Zoho’s SME-in-a-box to speed up Mastercard’s digital payment processes

With a motto to help benefit 73 million SMEs in India, payment solutions major Mastercard has partnered with Chennai-headquartered uunicorn company Zoho. This partnership will benefit Mastercard to launch a bundled 'SME in a box' solution for business owners. The bundle has been designed by Zoho to ease payments and help Small and Medium Enterprises (SMEs) seamlessly manage their GST compliance and back-office operations. The 73 million SMEs in India will be able 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.

Rajeev Kumar, Senior Vice President, Market Development, South Asia, Mastercard opined that this partnership is yet another way for Mastercard to empower Indian SMEs with the best-in-class technological solutions. Kumar is confident that Mastercard will enhance digital payment acceptance in the country and contribute to the Government’s mission of 30 billion transactions in FY 2019.