Ghanaian B2B commerce platform, Boost, has teamed up with global payments technology firm, Mastercard, to offer digital payment wallets and embedded supply chain finance. This move aims to empower and expand small businesses in Africa’s fast-moving consumer goods (FMCG) sector.
Boost, established in 2020, operates a B2B commerce platform designed to fuel growth for numerous retail entrepreneurs in the convenience economy. In collaboration with Mastercard, Boost plans to support various FMCG stakeholders, including distributors, wholesalers, and retailers, by offering them access to essential working capital and Mastercard’s acceptance solutions on Boost’s innovative platform.
Mastercard will equip Boost with the means to provide digital payment and credit solutions to their micro, small, and medium enterprise (MSME) customers across existing and future markets. This will enhance Boost’s impact and contribute to Mastercard’s mission of encouraging an inclusive digital economy.
The intentional collaboration aims to equip financial institutions with the capability to issue digital payment solutions and expand into the micro-retail space. It will empower merchants to digitize payments and gain access to working capital, whilst ensuring a wider selection of FMCG products are available to consumers with easy payment options.
Mike Quinn, co-founder and CEO of Boost, expressed excitement about the partnership with Mastercard, viewing it as an essential step towards Boost’s mission of empowering small businesses to thrive in the digital economy and create sustainable jobs and income. He commented that Mastercard’s support would help Boost elevate its model, creating transformative value for its customers and partners and propelling its global ambitions.
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