The Power of Digital Money for Small and Micro Merchants in LAC
It is well-known that small and micro merchants represent the vital spark of Latin America's economy. Not only because 99.5% of firms in the region are small and medium businesses (SMBs), responsible for 60% of formal productive employment¹, but also because they create a vibrant force for entrepreneurship and innovation.
With digital connectivity reaching new heights, there is now a tremendous opportunity to continue assisting micro and nano merchants in Latin America and the Caribbean increase their digital capabilities to help them drive more growth, expand their customer base and ultimately elevate their prosperity.
We just launched a new paper “Empowering micro and nano merchant businesses through digital payments,” which offers valuable insights to properly address this critical audience particularly in the current context of digital transformation. The paper provides actionable data on perceptions towards digital payments and cards’ acceptance, most relevant digital tools and benefits for nano and micro merchants, key challenges in maintaining and growing their businesses and major opportunities for issuers and acquirers.
All this is critical to co-create strategies that can help us capture sizeable card and non-card commercial opportunities within this segment. With our newly reshaped Commercial and Money Movement Solutions (CMS) division, we are also at the forefront of capitalizing new revenue streams for our clients and partners, especially in this sector that embodies most of the business landscape in our region.
Digital payments have proven to be a game-changer for small businesses worldwide. And with the right support, they can continue to be a driving force for economic growth, contributing to a more inclusive and sustainable digital economy.
The future is built by small businesses. So, I invite you to explore our new paper available in:
ENG https://vi.sa/3Wrhis4
SPA https://vi.sa/3SvqM4w
POR https://vi.sa/3yhCrNr