10 million Asia-Pacific small businesses to participate in Visa’s Global Programme to spur recovery through digital commerce Visa is introducing a range of programmes and solutions to help small- and medium-sized enterprises (SMEs) drive efficiency and sales by accepting and making payments digitally to meet increased demand for cashless payments – both online and in-store. Visa also formed the Visa Economic Empowerment Institute (VEEI) focused on economic and societal issues, including pandemic challenges SMEs face and closing racial and gender opportunity gaps. The 10 million pledge is part of a global programme that will see Visa supporting 50 million small businesses worldwide. Small businesses will play a vital role in helping communities recover – they account for more than half of global employment and are among the most affected by the pandemic. In the Asia-Pacific, SMEs account for more than 90 per cent of businesses and employ 50 per cent of the workforce. In addition to the economic impacts, COVID-19 is accelerating the use of digital commerce experiences, from people seeking new ways to pay that do not involve touching a terminal to a boom in e-commerce, as stay-home orders result in shopping online instead of in-store. In the Asia-Pacific, 41… Read full this story
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