Mastercard Teams up with Zoho to Launch a Bundled Solution for SMEsOctober 15, 2018 | New Delhi | By Barkha Patel
Mastercard today announced its strategic partnership with Zoho, a leading cloud solution provider to launch a bundled 'SME in a box' solution for business owners. The bundle will ease payments and help Small and Medium Enterprises (SMEs) manage their GST compliance and back-office operations effortlessly.
The solution aims at empowering 73 million SMEs in India to receive or make payments through all digital forms including Bharat QR, Mastercard business credit and debit cards while staying GST compliant using Zoho's ERP software.
A dynamic Bharat QR printed on generated invoices would facilitate easy collection of payments. Digitizing merchant onboarding, Mastercard offers improved efficiency, instant activation of payment acceptance and seamless experience to the SMEs.
The bundle is available as an “Exclusive Offer” for Mastercard business debit and credit card users.
"At Zoho, we continually strive to help Indian SMEs be more profitable and compete at the world stage," said Sivaramakrishnan Iswaran, Director, Zoho. "In this spirit, we are happy to join hands with Mastercard to equalize access to world-class accounting, payments, tax filing and business decision making solutions for Indian SMEs. For the first time ever, Indian SMEs have better solutions than their counterparts anywhere else around the globe," he further added.
Speaking about the partnership, Rajeev Kumar, Senior Vice President, Market Development, South Asia, Mastercard said, “Mastercard always strives to create a financially inclusive society and contribute to accelerate India’s journey towards becoming a cashless economy. SMEs being the backbone of the Indian economy have a significant role in this journey. This partnership is yet another way for Mastercard to empower Indian SMEs with the best-in-class technological solutions. Mastercard is confident that it will enhance digital payment acceptance in the country and contribute to the Government’s mission of 30 billion transactions in FY 2019.”
Benefits of the partnership include:
- Improved cash flow with faster digital payments
- Streamlined back-office with Zoho's GST compliant ERP software
- Exclusive pricing for Mastercard business Debit / Credit card users
Zoho is the operating system for business—a single online platform capable of running an entire business. With apps in nearly every major business category, including sales, marketing, customer support, accounting and back office operations, and an array of productivity and collaboration tools, Zoho is one of the world's most prolific software companies. In 2017, Zoho introduced the revolutionary Zoho One, an integrated suite of applications for the entire business.
Zoho respects user privacy and does not have an ad-revenue model in any part of its business, including its free products. More than 35 million users around the world, across hundreds of thousands of companies, rely on Zoho every day to run their businesses, including Zoho itself. Zoho Corporation is privately held and profitable with more than 5,000 employees. Zoho is headquartered in Pleasanton, California, with international headquarters in Chennai, India. Additional offices are in Austin, Utrecht, Singapore, Yokohama, and Beijing. For more information, please visit www.zoho.com/.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @mastercardindia, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
ZOHO Communications Contact
Aravind Natrajan, +91-9840708418
Mastercard Communications Contact
Latika Taneja, +91 98990 10054
Ashish Kumar, +91 8860548346
Mayuri Dahiya, 8585925739