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Middle East & Africa Paytech Trending

Mastercard and Pemo Drive SME Cashless Adoption Through New Partnership

The UAE is looking to support its small and medium-sized business (SME) marketplace by encouraging strategic partnerships between players in the region. Announced during Fintech Surge at GITEX 2023, Mastercard and Pemo are the latest to partner to improve the sector.

The collaboration aims to support the drive towards a cashless economy by providing SMEs with access to digital spend management solutions that empower them to scale and grow. Combining digital and contactless payment technology, Pemo’s physical and virtual corporate cards allow businesses to digitise and automate the spend management process. This includes one-click invoice payments and real-time cash flow monitoring for full visibility over spending habits.

The partnership will provide Pemo Mastercard Corporate cardholders with access to a range of features that enable them to boost productivity, save on business and leisure expenses and unleash business growth.

The program will also connect SME cardholders to over 150 merchant discounts through the Easy Saving Specials (ESS) platform. ESS is an SME-exclusive global redemption-based program with time-limited merchant offers redeemed at checkout. These include discounts and offers on much-needed services. For example:

  • Google Workspace
  • DocuSign,
  • Google Ads
  • Meta Ad
  • Notion

“At Mastercard, we are dedicated to connecting businesses big and small with better ways to make payments and manage expenses. Our innovative payment solutions empower businesses with enhanced efficiency, transparency, and control,” said Gina Petersen-Skyrme, vice president and country business development lead, UAE and Oman, Mastercard, Mastercard.

Added benefits

Cardholders will also be able to make use of travel and entertainment benefits. This includes access to airport lounges across the Middle East. It also covers airport concierge and discounts on on-demand car rides and car rental services.

In addition, those who activate the cards before the end of the year will receive an exclusive, limited-time offer. They can get up to one per cent cashback on corporate advertising for three months.

Capitalising on a booming market

SMEs comprise 94 per cent of the total number of companies operating in the UAE, accounting for 40 per cent of the GDP in Dubai alone. Corporate spending with SMEs is typically done using personal cards or petty cash. This is why the reconciliation process can take a significant amount of time, is subject to errors and provides insufficient spending control. Furthermore, SMEs often miss out on some of the perks that larger corporates typically enjoy. Pemo Mastercard Corporate cards aim to address these issues.

“We are specifically geared and catered towards SMEs, and we are well aware of their pain points. For all too long, SMEs have faced challenges when it comes to keeping a tight rein on their finances and expense management processes,” said Valerie Konde, co-founder of Pemo.

“Lack of visibility and cumbersome manual processes literally slow the whole operation and business down. Thanks to our partnership with Mastercard, we’re giving back to SMEs. Now, companies can operate even more efficiently using innovative technology and rewarding solutions that empower their businesses to grow. We are proud that Pemo Mastercard Corporate cardholders will have access to a range of benefits. Benefits which will actively help them expand their business and save money at the same time.”


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