In a bid to encourage the digitalization of micro, small, and medium-sized firms (MSMEs) through the adoption of electronic payment instruments and the development of financial inclusion, the Nuevo Leon Ministry of Economy has inked a collaboration agreement with Mastercard and Billpocket.
More than 500 Billpocket Nano and Billpocket Ultra terminals will be distributed to business owners in Nuevo León as part of the alliance’s efforts to also offer them technical support and advanced financial inclusion training.
“We have said that micro, small and medium-sized businesses are the engine of Nuevo León’s economy, so we will continue to support them, now with payment tools so that they can make the leap to digitalization,” said Iván Rivas, Secretary of Economy in the state.
The Hecho en Nuevo León (Made in Nuevo León) initiative, which supports the formal commercial development of regional MSMEs by offering guidance and training for their formalization and expansion and currently has close to 3,000 associated enterprises, offers additional assistance.
Pymes Competitivas is a different project that offers entrepreneurs more than 120 hours of training and mentoring under the effective Small Business Development Center model, which boosts company sales by threefold.
Mastercard is a crucial ally for the advancement of the digitization agenda of businesses and governments in Mexico, contributing its expertise and vast experience as a pioneer in payment method technology and providing a fast, secure network. It aims to simplify the transaction process for SMEs to make it more convenient and user-friendly by working with Billpocket, a financial services firm for the development and supply of payment terminals.
When we can join forces with partners in the public space, we know we can create powerful solutions for micro and small businesses. As more people rely on digital technologies, collaboration between different actors in the public and private sector is necessary to foster access to the necessary financial tools and resources.
Through technologies that allow them to accept and use electronic payments, the company is dedicated to assisting 50 million MSMEs over the course of the next five years in transitioning to the digital economy.
Additionally, this will provide 25 million female company owners with financial options to accelerate the expansion of their enterprises.