Mastercard Provides Latin America Small Businesses Free Resources and Technology
MIAMI, FL | June 25, 2020
RiskRecon Cybersecurity Assessment, and an Online Education Program Offered Free of Charge
As small businesses across Latin America and the Caribbean (LAC) cope with the pandemic's repercussions, Mastercard has provided a suite of free tools and resources to support their increased online operations. These services include free cyber vulnerability assessments and identity theft protection, as well as an online education portal.
According to Alampyme, four and a half million small and medium-sized enterprises in Latin America and the Caribbean will suffer an estimated $13 billion loss following the COVID-19 closures. This fact affects not only small business owners but also the region’s economies and communities. In Latin America and the Caribbean alone, SME’s make up 99% of companies, contribute 30% of Gross Domestic Product, and employ 70% of the population.
“Small businesses are amongst the hardest hit from the COVID-19 pandemic, and it is vital that they be protected,” said Daniel Acosta, senior vice president of Commercial products for Mastercard LAC. “At Mastercard, we are committed to helping them sustain themselves through this global crisis by providing access to resources they need.”
Free Cyber Vulnerability Assessments & ID Theft Protection
RiskRecon, a Mastercard company, is providing LAC small businesses free cyberhealth assessments to help them identify and address potential vulnerabilities in their systems. Monitoring and catching vulnerabilities early enable small companies to stay ahead of cybercriminals so they can focus on growing their business instead of fighting costly cyber-attacks.
With free access to RiskRecon’s ‘My Cyber Risk’ service and portal, small businesses will receive continuous cyberhealth assessments along with recommendations for how to strengthen their cybersecurity posture. Small businesses with up to 200 employees can register for this free offering at https://www.riskrecon.com/lacsmb-en. This program is offered at no cost through March 31, 2021.
Mastercard is also enabling small businesses to better monitor and resolve identity theft through its ID Theft Protection solution. Issuing banks can enroll in this solution for free through the end of 2020, making identity protection one less thing their small business cardholders have to worry about. The solution is available at no cost to banks across the region, except in Brazil, Puerto Rico and English-speaking Caribbean.
Dedicated Online Resources to Navigate the Pandemic
These days, small businesses need information to adapt their operations and meet new consumption needs. To that end, Mastercard is putting forth it’s small business education portal, MastercardBiz, boosting its content
with specialized resources, COVID-19 related content and online trainings from ConnectAmericas, the online business platform created by the IDB. This platform helps small and medium enterprises from Latin America and the Caribbean internationalize their business by connecting them to more than 400,000 users from 110 countries to explore private and public business opportunities, and by offering them training tools that enhance their ability to internationalize.
Boosting Consumer Spend, Contactless payments, and a Global Commitment
This announcement follows similar initiatives by Mastercard to support small businesses in LAC and around the world. Examples include multiple campaigns and incentives to encourage consumers to buy from small businesses. Mastercard has also recently enabled higher contactless limits across LAC as part of its global effort to ensure consumers, merchants, and small businesses can safely pay, receive payment, and maintain operations during the COVID-19 crisis. The company also committed $250 million in financial, technology, product, and insight assets over the next five years to small businesses globally; and pledged to bring 50 million micro and small businesses into the digital economy by 2025.