Mastercard, the American multinational financial services provider, recently announced a new online search tool that will help consumers confirm which businesses remain open amid the "new normal" of COVID-19. The platform, ShopOpenings.com is available to both Canadian and U.S. users and identifies locations that accept contactless payments.
Alongside the new platform, Mastercard also debuted a new global initiative, dubbed Digital Acceleration for Small Business that offers resources and insights to brands looking to build an online presence. The program features partners including Spotify, BigCommerce, and Hello Alice, among others.
Both programs are part of Mastercard's wider Recovery Insights program that seeks to support global businesses and governments regain economic security and safety amid the devasting COVID-19 pandemic.
Image Credit: Shutterstock, Mastercard
Why This Trend Is Growing
- Contactless Payment Adoption
- The pandemic has accelerated the adoption of contactless payments, presenting an opportunity for companies to invest in and improve contactless payment technology.
- Digital Transformation for Small Businesses
- The pandemic has highlighted the importance of digital transformation for small businesses, providing opportunities for companies to offer tools and resources to help small businesses succeed online.
- Local Store Support Platforms
- The pandemic has created a need for platforms that support local businesses, presenting an opportunity for companies to create similar platforms that connect consumers with local businesses in need of support.
Industries Being Reshaped
- Financial Services
- Financial services companies like Mastercard can develop innovative digital tools and support programs to help their clients navigate the challenges of the pandemic and beyond.
- E-commerce
- E-commerce platforms like BigCommerce can partner with financial services companies to offer resources and insights to small businesses looking to build an online presence and reach a wider customer base.
- Local Business Support
- Local business support initiatives like ShopOpenings.com can encourage collaboration between businesses, government agencies, and financial services companies to boost economic recovery and ensure the survival of small businesses.
