Mastercard, PayMongo, and Paymentology have launched a virtual prepaid card for small and medium enterprises (SMEs) in the Philippines, as reported by Philstar Biz.
The card is designed to help SMEs go cashless by allowing them to make digital payments without opening a traditional bank account. This aims to address the financial inclusion gap for many small businesses in the country that rely on cash transactions.
By leveraging the partnership, the companies hope to streamline payment processes and provide SMEs with greater access to digital commerce tools, potentially boosting their growth and efficiency.