Mastercard Launches Solutions for Female Business Owners in Latin America

Mastercard has launched a suite of solutions for female business owners in Latin America and the Caribbean.

The solutions include access to financing, continuous education and a health program, Mastercard said in a Tuesday (April 11) press release.

“With these resources, Mastercard aims to help female business owners address the barriers that still block their full professional development, such as limited access to financing, lack of support networks and the gender gap in business,” Maria Barreiros, vice president of small and medium-sized enterprise products at Mastercard Latin America and Caribbean, said in the release.

The financial solutions offered by Mastercard to help businesswomen in the region include business credit cards, travel and operating expense reimbursements through the Easy Savings program, and discounts on digital business services, according to the press release.

For continuing education, Mastercard offers through partnerships access to the INCAE Virtual Accelerator, the Todas Conectadas digital skills training platform, the Strive eCommerce toolkits and the MicroMentor platform that connects entrepreneurs with mentors.

The newly announced suite of solutions also includes a health program, legal consultancy, insurance against cellphone theft and accidents, and cybersecurity education and tools.

“We are also reinforcing our commitment to supporting small business growth and strengthening economies, which starts with providing businesses of all sizes with the tools they need to thrive,” Barreiros said in the release.

In other news from Latin America, Visa and digital wallet Tigo Money partnered in November 2022 on a regional agreement that aims to expand access to digital financial services across the region.

The agreement created a new payment solution — the Tigo Money Visa card — that is linked to the consumer’s Tigo Money wallet and allows them to use their digital money anywhere Visa is accepted.

In February, Miami-based trade finance platform Marco said that a fresh $200 million credit line as well as an $8 million equity investment would enable it to pursue rapidly growing trade opportunities in Latin America.

The FinTech has lent over $250 million in its first two years in business, as its financing helped Latin American- and certain U.S.-based businesses across the global economy.