Tag: MSMEs

As the digital economy continues to expand in 2025, digitalisation remains a priority for MSMEs striving for long-term success. However, adopting digital solutions is not always straightforward. According to EY, two in five MSMEs find digital adoption daunting. At the same time, waning consumer loyalty and rising expectations are pushing businesses to rethink their marketing strategies and embrace digital tools to foster trust online.

How can MSMEs balance digitalisation with meeting customer needs without becoming overwhelmed? The key lies in understanding their customers’ unique shopping journeys and enhancing their experience incrementally with targeted digital solutions.

Making online shopping feel more human

While transactions are critical conversion points, what truly matters to consumers is the experience leading up to a purchase. Increasingly, consumers prefer shopping experiences that seamlessly fit into their lifestyles, helping them find the right products at the right time.

Take new homeowners, for example. Traditionally, they might visit a furniture store and rely on a sales associate to guide them from sofas and coffee tables to shelves and cabinets. Customers enjoy experiences like this as it reassures them that they are in good hands, and helps them trust that the associate understands and proactively addresses their needs.

Through technology, MSMEs can replicate this personalised shopping journey online. Today, e-commerce platforms like Shopee deploy AI-powered solutions such as tailored search results and smart product recommendations. These tools require minimal effort from small business owners but significantly enhance the customer experience, making online shopping feel more intuitive and personalised.

Earn trust by working with genuine, trustworthy advocates

As consumers become more savvy, driving purchases requires more than just trustworthy and personalised browsing experiences. A 2024 Kantar survey commissioned by Shopee found that Southeast Asian shoppers also rely heavily on recommendations from other consumers when making purchase decisions. In addition to user reviews, MSMEs can also explore other touchpoints and sources to tell their brand story and help consumers trust their brand.

One effective approach is partnering with affiliates—including established content partners and trusted key opinion leaders (KOLs)—to promote their brands and products. Traditionally, brands have to individually vet and negotiate with affiliates for such collaborations. Today, MSMEs can use simple solutions to find relevant KOLs and choose cost-effective partnerships, whether through fixed per-post payments or commission-based models tied to sales.

For instance, a local seller of professional-grade photography and filming equipment can collaborate with budding content creators on affiliate marketing campaigns. These affiliates, who may be everyday consumers rather than influencers, can then share product demos, reviews, and experiences through social media posts, short videos, or personal livestream sessions. This enables potential buyers to learn about products authentically from a third party while also allowing other users to contribute by sharing their own experiences, further reinforcing credibility and trust.

Convert trust to loyalty by delivering on your promises

Unlike brick-and-mortar retail, the e-commerce customer journey doesn’t end at checkout. When it comes to online shopping, a seamless fulfilment experience can also contribute greatly to fostering brand loyalty. Shopee’s 2024 survey highlights this, with shoppers ranking timely deliveries as a top priority. However, many MSMEs, especially those new to online selling, struggle with logistics and inventory management due to limited resources, fragmented supply chains, and unpredictable demand. These occasionally lead to stock shortages, delayed shipments, and dissatisfied customers.

To overcome these hurdles, MSMEs can leverage digital solutions to optimise inventory planning and logistics. By analysing past sales trends, AI-driven forecasting tools help businesses predict demand surges and maintain sufficient stock, reducing the risk of cancelled orders. Additionally, working with logistics partners that provide accurate delivery date estimation enables MSMEs to provide customers with greater transparency and confidence in their purchases. These technologies not only enhance fulfilment efficiency but also help small businesses build stronger customer relationships.

The rapid pace of change—driven by technology, economic shifts, and evolving consumer behaviour—means that simply having an online presence is no longer enough. To earn trust and long-term loyalty, MSMEs must provide a seamless and reliable shopping experience. While this may seem daunting, modern technology makes it easier than ever for small businesses to meet rising customer expectations, build credibility, and position themselves for sustained growth in 2025 and beyond.

This thought leadership is written by Huiyan Pan, Regional Marketing Lead, Shopee

The insight is published as part of MARKETECH APAC’s thought leadership series under What’s NEXT in Marketing 2025, a multi-platform industry initiative which features marketing and industry leaders in APAC sharing their marketing insights and predictions for 2025 and beyond.

Kuala Lumpur, Malaysia – The Ministry of Entrepreneur and Cooperatives Development (MECD) and SME Corp. Malaysia have recently teamed up to launch the book ‘Do Your Own Branding (DYOB)’ aimed at helping MSMEs in Malaysia strengthen and build their brands. 

The guide offers practical insights into developing brand identities, including strategies for naming, logo creation, and implementing sustainable branding systems. It also highlights success stories from small and medium enterprises (PMKS) that have excelled in branding, serving as an essential resource to empower local businesses and support their global growth.

Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick introduced a new website for the National Mark of Malaysian Brand (NMMB) Programme. This platform provides accessible information for PMKS interested in participating in the certification programme. 

The NMMB recognises companies that meet stringent quality standards, facilitating their entry into regional and international markets. This initiative aligns with SME Corp. Malaysia’s Business Strategic Plan, which prioritizes PMKS internationalization.

During his address, Ewon emphasized branding’s critical role in Malaysia’s trade-oriented economy. 

“Branding is essential for adding value, differentiating products and services, and maintaining global competitiveness. KUSKOP remains dedicated to supporting PMKS through initiatives such as increasing their export contributions to 15% of national exports by 2025,” he stated.

Meanwhile, Tan Sri Bernard Giluk Dompok, Chairman of SME Corp Malaysia, highlighted that branding enhances business competitiveness, describing a brand as “not just an identifier but a symbol of trust and quality.” He noted the forum as a platform for elevating Malaysian brands to gain global recognition and respect.

Rizal bin Datuk Nainy, CEO of SME Corp Malaysia, elaborated that the DYOB guidebook is part of the agency’s comprehensive branding efforts, which include the NMMB Programme. Since its inception in 2009, the NMMB has certified 177 companies for their exceptional quality, excellence, and distinction.

Manila, Philippines – The Asian Development Bank (ADB) and the Mastercard Impact Fund, administered by the Mastercard Center for Inclusive Growth, announced a landmark partnership to promote financial inclusion and access for MSMEs across the Asia-Pacific region. 

The collaboration will leverage a US$5m grant from the Mastercard Impact Fund to support up to US$1b of ADB financing to financial institutions for lending toward micro, small, and medium enterprises (MSMEs). 

The Mastercard Impact Fund aims to accelerate ADB’s efforts to deliver financing to MSMEs across Asia-Pacific, including the Philippines, by providing a US$5m grant in the form of risk-reducing capital, incentives and capacity building support to financial institutions. The mitigation of credit risk and technical assistance support is expected to catalyse lending by financial institutions, toward unserved or underserved MSMEs. 

In the Philippines, MSMEs account for 99% of all business establishments and employ roughly 63% of the country’s workforce. However, despite being considered the economic backbone of the country, many MSMEs remain financially excluded. This sector is among the underserved segments by financial institutions, underpinning the need for increased MSME support. 

At least 50% of ADB’s total financing will go towards women led or owned MSMEs and climate finance among small businesses deployed over a period of four years. The initial target markets include India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, and Georgia. 

This partnership between the Mastercard Impact Fund and ADB marks a significant step towards addressing critical MSME financing gaps in the region. By leveraging their combined expertise and resources, both organizations are committed to fostering sustainable growth and inclusive prosperity for MSMEs throughout Asia and the Pacific.

Bhargav Dasgupta, vice president of market solutions at ADB, said, “MSMEs are the backbone of economies across Asia and the Pacific, yet many struggle to obtain adequate finance. By combining the resources and expertise of ADB and Mastercard, this facility will unlock the potential of MSMEs, particularly those run by women or supporting climate finance, empowering businesses and fostering inclusive and sustainable economic growth across the region.”

Meanwhile, Jon Huntsman, vice chairman of Mastercard and Board Director of the Mastercard Impact Fund, remarked, “This partnership deepens the work we’re doing in the Asia-Pacific region to support entrepreneurs and small businesses, which are the lifeblood of communities and economies. By bolstering resilience to climate and economic shocks, we are putting more people, communities and entrepreneurs on the path to financial inclusion and prosperity.”

Lastly, Ari Sarker, president for Asia-Pacific at Mastercard, commented, “Despite their long-established significance to economies, MSMEs continue to be challenged by access to credit – the fundamental resource which can catalyze growth for them and their economies. For growth to be truly inclusive, closing the MSME funding gap needs to be a core focus for both public and private sectors. This partnership is a meaningful step in that direction.”

Indonesia – PT Bank Negara Indonesia (Persero) Tbk (BNI) has entered into a strategic collaboration with PT Berdayakan Usaha Indonesia (Batumbu), a fintech lending platform, to enhance financing access for micro, small, and medium enterprises (MSMEs) across Indonesia.

Recognising the vital role of the MSME sector, BNI’s partnership with Batumbu highlights the bank’s dedication as an “Agent of Development” to expanding access to productive financing for MSMEs within supply chain ecosystems.

As part of this collaboration, BNI will provide a loan channelling facility of IDR 1.2t to Batumbu, which will allocate the funds to its MSME partners using a supply chain financing model.

This strategic alliance leverages technology to streamline financing, empowering MSMEs to grow and drive Indonesia’s economic progress, reaffirming BNI and Batumbu’s commitment to inclusive financial access.

Through initiatives like its collaboration with Batumbu, BNI aims to deliver transformative solutions that empower MSMEs to compete globally and achieve long-term success.

The partnership was officially cemented with the signing of a Cooperation Agreement (PKS) by I Nyoman Astiawan, BNI’s general manager of retail productive banking, and Reza Perazi Armadi, Batumbu’s president director, during a ceremony at BNI Tower in Jakarta.

Armadi expressed his enthusiasm for the partnership, highlighting its alignment with Batumbu’s mission to empower MSMEs across Indonesia, backed by the support of Validus Investment Holdings Pte Ltd.

“This partnership unlocks opportunities for us to deliver fast, tailored financing solutions to small and medium enterprises, many of whom remain underserved by traditional banking services,” Armadi stated. 

Speaking at the event, BNI’s director of retail banking, Corina Leyla Karnalies, emphasised the strategic significance of the collaboration in empowering MSMEs, a vital pillar of Indonesia’s economy.

“In this era of digital transformation, technology has become a pivotal enabler for the advancement of the financial sector. Fintech lending presents innovative, efficient, and inclusive financing solutions tailored for MSMEs. At BNI, we remain steadfast in our commitment to fulfilling our role as an agent of development by driving innovation and leveraging digitalisation to simplify and enhance credit access for MSMEs,” Karnalies remarked.

Since its founding in 2018, Batumbu has disbursed IDR 45.1t in financing as of October 2024, maintaining sustained profitability with positive monthly EBITDA since 2022.

Through this partnership, BNI and Batumbu reaffirm their commitment to building an inclusive financial ecosystem that empowers MSMEs and strengthens Indonesia’s economic resilience.

Jakarta, Indonesia – Despite improvements from the previous year, only 46% of MSMEs have fully separated their business and personal finances, which could impact cash flow and business sustainability. This is according to the latest data from PT Bank OCBC NISP Tbk (OCBC) and NielsenIQ (NIQ) Indonesia’s Business Fitness Index (BFI).

The data showed that MSMEs registered as business entities tend to have a better understanding of financial management systems and business risk planning. This results in a healthier financial score of 60.2, compared to those without an entity, who score 47.4. 

This is attributed to having clearer and measurable business plans, targeted business strategies, and proper, regular, and orderly financial recording, which can serve as an accurate basis and benchmark for business continuity.

Moreover, with separate business accounts, financial record-keeping can become more organised and well-documented. The good news is, the awareness amongst MSMEs in Indonesia regarding meticulous financial record-keeping has increased, evidenced by 77% of MSME operators who have already conducted financial accounting or bookkeeping. However, of those who have done financial record-keeping, 77% still perform it manually.

The report also showed MSMEs in Indonesia are improving in financial management as seen from the increase in scores for maintaining cash reserves, influenced by higher income compared to expenditure. Hence, generally, this year the financial health score of MSMEs has increased to 48 compared to last year’s 43.8. Although there has been an increase, this score is still in the ‘caution’ category and far from the ideal score of 75.

MSMEs have also begun to harness digitalization in their marketing efforts. Up to 81% of MSMEs already have social media accounts, yet only 35% understand and maximize its features. Regarding the intensity of usage, 46% of MSMEs with social media accounts are not active enough in their use. 

The utilisation of e-commerce/online platforms is also not optimal, with only 17% of MSMEs using this platform. This means MSMEs must be more proactive in exploring digital platforms that can connect them with customers and potentially expand their business scope.

Sari Kartika, SME proposition division head at OCBC, said, “Separating business and personal income is an essential first step for MSMEs to advance to the next level, especially by utilizing a business entity identity. However, many entrepreneurs face challenges in opening business accounts, mostly related to processing time and documentation requirements.”

Lastly, the research shows that currently, both female and male entrepreneurs are increasingly optimistic about their business capabilities. Interestingly, 23% of male entrepreneurs agree that female entrepreneurs are better at managing business finances and securing business capital, compared to 10% who stated males are better. Meanwhile, male entrepreneurs are considered more capable in critical aspects, such as making business decisions, facing business challenges, and allocating more time for business.

Inggit Primadevi, director of consumer insights at NIQ Indonesia, commented, “Research results show that 80% of MSMEs are not registered as business entities, and only 3% of Indonesian MSMEs are registered as single shareholder limited companies. Among those registered, small enterprises are the majority, while micro enterprises are significantly lower. These results indicate a need for improvement to elevate MSMEs to the next level.”

Singapore – Validus, a digital SME lending platform, has announced the establishment of a debt facility of up to US$50 million from HSBC with the aim of financially supporting micro, small and medium enterprises (MSMEs) in Indonesia.

Digital SME financing platform Batumbu, Validus’ Indonesian subsidiary, will be deploying the debt facility.

According to Indonesia’s Ministry for Economic Affairs, MSMEs contribute 61% of the country’s gross domestic product, encompassing 97% of the country’s total workforce. However, MSMEs in the country struggle to secure financial resources due to banks’ stringent requirements, as reported by the World Bank.

As an additional and accessible financing option, the debt facility aims to help MSMEs overcome financial challenges while boosting their contribution to Indonesia’s economic development.

“This long-term partnership with HSBC builds on our ongoing efforts to bridge the financing gap for MSMEs in Indonesia. We will continue to pioneer innovations and drive advancements in the lending space. By leveraging Batumbu’s unique position as the largest and only profitable digital SME financing platform in the country, we are committed to unlocking new opportunities for businesses, driving economic growth, and enhancing financial inclusion. We are honoured to work with HSBC on this pivotal initiative, which will enable Validus to make a larger impact on the Indonesian economy,” Nikhilesh Goel, co-founder and group CEO of Validus, said.

Harish Venkatesan, head of corporate and business banking at HSBC Singapore, said “As one of the leading MSME digital financing players in the ASEAN region, we are pleased to support Validus in playing an instrumental role in promoting financial inclusion to underserved small businesses in this region. MSMEs play a key role contributing to the long-term economic success in the ASEAN region and beyond. We look forward to supporting Validus in their mission to drive regional growth through the HSBC ASEAN growth fund.”

While based in Singapore, Validus has expanded its presence in Indonesia, Vietnam, and Thailand.

Manila, Philippines – Around 51% of women-led SMEs and 56% of microbusinesses in the Philippines saw revenue growth after they started accepting digital payments, new data from Visa recently revealed.

Considering that SMEs are important to the economy and that women make up more than half of the population in Asia, utilising women’s economic potential might boost the Asia Pacific region’s GDP by $89 billion a year, including the Philippines. 

According to the study, around 72% of the SMEs in the Philippines surveyed said that running their own business has gotten easier. Digital wallets—GCash in particular—dominate as the primary means of digital payment for SMEs, particularly those led by women (61%) according to a Philippine poll. Millions of unbanked Filipinos now have access to the advantages of having a payment card because of Visa’s partnership with GCash for the launch of the new GCash Card.

Out of all the companies that have begun to take digital payments, those that accept cards have seen the biggest gains in turnover (83%). Instantaneous transfers and cashless transactions are made possible by digital payments, improving the shopping experience. Visa helps small and medium-sized businesses (SMEs) in the Philippines by providing broad acceptance and strong security against fraud for both customers and merchants. 

The Philippines has over a million micro, small, and medium-sized enterprises (MSMEs), making them important for the nation’s economic development. 99.5% of the businesses in the Philippines are MSMEs, according to data from the Department of Commerce and Industry. Almost 50% of these enterprises are involved in wholesale and retail commerce, which accounts for 65% of all jobs in the nation. 

Guaya Melgar, CEO and co-founder of Mochi, said, “My business has grown since I introduced digital payment methods. I appreciate the convenience, speed, and the ability to easily track payment records. It provides my customers with a convenient cashless payment option too. I hope to expand my business beyond the Philippines so enabling cross-border payments will help me grow my customer base.” 

Meanwhile, Jeff Navarro, Visa’s country manager for the Philippines, stated, “Small and medium-sized businesses are the driving force behind the thriving economy in the Philippines. Visa is proud to contribute to their growth by providing secure and convenient digital payment solutions. Visa is committed to continuously supporting the Philippine government’s financial inclusion and digitization goals, including empowering SMEs, the cornerstone of the economy, by introducing innovative financial and payment solutions so they can build on this foundation to grow their business.”

Recently, Visa released an online toolbox for SMEs to help travel-related businesses take full advantage of contactless payments. Visa launched the SME Accelerator Program in the Philippines in 2023 with the goal of assisting partners and SMEs with competitive pricing, expedited onboarding, and comprehensive go-to-market support. The enhanced SME Accelerator programs will also concentrate on a broader range of collaborations with ecosystem players to assist smaller vendors and expedite the implementation of solutions for SMEs.

To help women-owned and underrepresented SMEs in APEC countries like the Philippines gain faster access, the Visa Foundation has committed to donate $100 million over the course of five years. Approximately 29.6 million SMEs are from APEC economies, and 10.9 million of the nearly 67 million SMEs that Visa has addressed globally are led by women. 

Singapore – To celebrate the Global International MSME Day for 2024, digital payment and financial services provider Ant International has shared its support towards almost 100 million Micro, Small, and Medium-sized Enterprises (MSMEs) worldwide through its businesses and programs as well as its global campaign.

Through these efforts, Ant International reinforces its commitments towards MSME digitalisation and inclusion through the expansion of its services as well as new programs for skills development with industry partners.

In its ‘Embrace the power of small” campaign, Ant International features three business owners and their journeys of digitalisation namely, Cholthicha Joyyangsuk (Numwan) from Thailand who sells desserts on her tuktuk, Lem Cheong from The Hainan Story, Singapore who was inspired by his grandma’s rich heritage and flavourful recipes, and Lewis Ames from Wrimes Cosmetics, UK who started with neon face paint and pivoting to pet care during the pandemic.

These stories then will be featured on out-of-home billboards, starting in Europe, in time for the UEFA EURO 2024, of which Ant International is the Official Payment Partner, and rolled out to other global markets, and also on TV and social media.

In terms of Ant International’s other efforts, Alipay+, the cross-border mobile payments and marketing solutions operated by Ant International, announced an expansion of its global acceptance. As of June 2024, Alipay+ is accepted by over 90 million merchants in over 66 markets, enabling many small businesses to efficiently connect with global mobile-first consumers.

This initiative from Alipay+ is then supplemented further by digital payment solutions providers Antom and Worldfirst, empowering more SMEs with international payment solutions.

Additionally, ANEXT Bank, a digital wholesale bank incorporated in Singapore, recently celebrated its second anniversary, with two times year-on-year increase in its customer base, of which 69% are micro businesses. To further support regional MSMEs, the bank has introduced its second batch of ‘SME Friends of ANEXT’ with forward-thinking small and growing businesses to co-create the “digital bank of tomorrow”.

In Indonesia, Ant International and DANA will launch the second edition of ‘SisBerdaya’, an initiative that provides female micro entrepreneurs training, mentoring, and educational programs in business management and digital skills. Started in 2023, the first edition drew more than 2700 applicants, with 180 participants undergoing a one-month training, and grants awarded to 30 entrepreneurs.

Lastly, in collaboration with the International Finance Corporation, ‘10×1000 Tech for Inclusion’ is an open learning platform to help future digital leaders develop more skills to drive greater impact within their communities. As of 2023, with the support of 40+ global strategic partners, more than 6,000 individual talents from 100+ countries and regions completed the 10×1000 learning programs, of which 90% are from developing markets and 60% work in MSMEs.

Talking about these initiatives, Douglas Feagin, president of Ant International, said, At Ant International, we firmly believe in the power of small and that small businesses can make a big impact. Fintech innovations today unlock new possibilities for small businesses to dream boldly and compete globally.”

“Together with our partners, we want to ensure that every business and every person will have access to the knowledge, network, and digital tools to help them achieve their goals,” he added.

Philippines – Visa, a global payment solutions provider, is dedicated to increasing digital and financial inclusion in Southeast Asia by providing women and youth with digital and financial skills. This effort strives to promote long-term growth and prosperity. 

Southeast Asia’s young population, which makes up approximately a third of the region, as well as its SMEs and MSMEs, which account for 99% of all firms, are critical to economic growth. Visa is contributing to this success by increasing digital and financial literacy among women SME owners and young people.

In 2023, Visa will have digitally empowered 10 million SMEs in Asia-Pacific. The Visa Foundation has invested more than US$47m in the region, supporting two million women-led SMEs and sustaining 500,000 jobs. It just invested US$100m to APEC economies over a 5-year period.

According to an OECD assessment, women, people from specific ethnic minority groups, and rural regions have obstacles when it comes to fully embracing digital possibilities. These groups frequently face institutional and cultural barriers to growth, in addition to a predilection for unofficial funding. 

Stephen Karpin, regional president, Asia-Pacific, Visa, said, “In the Philippines, women and young people form a crucial engine propelling local economic growth. Visa utilises our resources and vast network to give back to the communities we operate in, particularly in promoting digital and financial inclusion. We believe in the transformative power of providing individuals and communities with global access to digital financial tools. As a key partner in Southeast Asia’s financial ecosystem, Visa is committed to reaching the most underserved communities, ensuring they too can reap the benefits of the digital economy.” 

Meanwhile, Kelly Tullier, vice chair, chief people and corporate affairs officer, Visa, added, “At Visa, we are dedicated to empowering women, particularly those running small businesses, to set them up for success. My trip to Vietnam reinforced how contributions within local communities are most impactful when done in concert with leaders on the ground. We met Visa Foundation partner, WISE Vietnam (Women’s Initiative for Startups and Entrepreneurship), which has supported 100,000 women entrepreneurs in Vietnam with access to digital tools to grow their businesses. 

“Meanwhile, Visa’s partnership with The Asia Foundation enables us to work with government agencies and microfinance institutions to support local businesses and help the digital economy thrive. By supporting each other, we lay the groundwork for equitable futures for all,” Tullier added. 

Visa and the Visa Foundation form strategic partnerships to promote digitisation and financial inclusion in Southeast Asian communities. 

In line with Visa’s financial literacy initiative in the Philippines, which began in 2017, has trained over 36,000 students and teachers in 64 schools spread across 21 cities. Visa collaborates with Tanghalang Pilipino, the Cultural Center of the Philippines’ resident theatre troupe, and Teach for the Philippines (TFP), a non-profit organisation supported by the Bangko Sentral ng Pilipinas. 

The program includes a Tagalog skit that was performed in classrooms and eventually developed into two online series about financial literacy. In order to promote student development programs and leadership development projects that place transformative teachers and changemakers in schools and education governance organisations, TFP recently received a grant from the Visa Foundation. 

Meanwhile, in Indonesia, Visa provided women-led Indonesian SMBs with the tools they needed to drive financial and digital inclusion. Since its launch in 2017, the “Ibu Berbagi Bijak” (Women Sharing Wisdom) financial literacy initiative has benefited over 1,400 women, including more than 1,000 women-led MSMEs in Central Java, Yogyakarta, Bali, and West Java, through training, mentorship, and business matching. This project received backing from regional governments, Bank Indonesia, the Financial Services Authority, and key ministries such as the Ministry of Tourism and Creative Economy and the Ministry of Cooperatives and Small and Medium Enterprises. 

Additionally, the Visa Foundation’s partnership with UN Women and the Swiss Association for Entrepreneurs in Emerging Markets produced a program that provides business coaching, networking opportunities, and funding to women-led care firms. Following program completion, the first cohort touched over 6,500 employees and independent caregivers in addition to over 27,000 care beneficiaries. 

In Vietnam, Visa’s ‘Accelerate My Business’ program, developed in collaboration with The Asia Foundation and the Center for Women and Development, assists ethnic minorities, youths, and female Vietnamese company owners. This initiative delivers basic financial, commercial, and digital expertise to micro and SME owners in disadvantaged communities, with the goal of empowering 25,000 female company entrepreneurs over the next three years.

Additionally, Visa provides help to households and ethnic minority communities under a three-year Memorandum of Understanding signed with the State Bank of Vietnam in 2023, in collaboration with the Committee for Ethnic Minority Affairs. Improving financial and business literacy in Vietnam is the goal of the yearly Financial Literacy Program, which was founded in 2012 in collaboration with the Vietnam Students’ Association Central Committee. 

Furthermore, in Cambodia, Visa works with the Ministry of Women’s Affairs in Cambodia (MoWA) and the National Bank of Cambodia (NBC) to empower women through financial literacy and entrepreneurship programs. Since 2020, Visa, MoWA, and NBC have collaborated on a four-year initiative called “Promoting Financial Literacy for Women and Women Entrepreneurs,” which has benefited over 10,000 female entrepreneurs and students. 

Visa is committed to coordinating its social impact initiatives with the objectives of the National Bank of Cambodia (NBC), in light of NBC’s progressive pledge in its National Financial Inclusion Strategy 2019–2025 to cut the percentage of women who are financially excluded by half, from 27% to 13%. 

Over 1,200 women entrepreneurs in the Philippines and Cambodia have benefited from The Visa Foundation’s cooperation with The Asia Foundation. Over 800 women entrepreneurs in 12 provinces in Cambodia were given access to cash, financial education, business training, and online markets through the project’s use of pre-existing e-commerce platforms. 

Manila, Philippines – The Asian Development Bank (ADB) and Mastercard have signed a memorandum of understanding (MOU) to promote financial inclusion and digital transformation across Asia-Pacific. The agreement reflects both organisations’ common objective of improving financial inclusion by supporting micro, small, and medium-sized enterprises (MSMEs) and women-owned businesses. It seeks to use digital innovation to promote equitable growth and the adoption of climate-friendly behaviours. 

ADB and Mastercard have committed to working together on projects that will increase financial accessibility, encourage the use of digital payments, and improve digital literacy in marginalised populations. Their main goals include encouraging inclusive economic development and closing the digital divide. To make sure that their cooperative efforts are in line with the main goal of creating a safe and sustainable digital economy, the parties have set guiding principles.

ADB recently granted a US$300m loan to help the Philippines’ financial inclusion aspirations. The loan aims to increase Filipinos’ access to financial services, particularly among underprivileged parts of the community, while simultaneously encouraging economic growth. 

The strategic partnership is a step toward a more inclusive and resilient digital economy in the Asia-Pacific region. ADB and Mastercard aim to create new opportunities, promote long-term growth, and have a lasting impact on future generations by working closely together.

Speaking about the partnership, Simon Calasanz, country manager, Philippines, Mastercard, said, “Mastercard has an extensive history of supporting MSMEs, and is committed to further collaborating with ADB in the Philippines to drive greater financial inclusion, broaden credit access, and ensure a safe and secure digital ecosystem for the evolving landscape.” 

Meanwhile, Suzanne Gaboury, director general of ADB’s private sector operations department, stated, “Financial inclusion is at the heart of ADB’s mission to promote sustainable development. Through this partnership with Mastercard, we are increasing our efforts to expand access to financial services and unlock opportunities for marginalised communities in the Philippines, and across the region.”