Mastercard Commits $250 Million To Support Small Business’ Financial Security

Reaffirms Commitment to Small Business Owners and Their Employees By Committing Funds, Along With Cyber Security and Local Market Intelligence Solutions at No Cost 
PURCHASE, NY – April 7, 2020 – Our local main streets have been amongst the hardest hit from the COVID-19 pandemic. To help address this challenge, Mastercard today announced a commitment of $250 million over five years to support small businesses in the United States and other markets where we operate. The announcement came during the virtual America CARES Small Business Relief event hosted at the White House on Tuesday afternoon.
As part of the commitment, the company will provide U.S. small business owners with access to necessary resources to help protect their business and their employees through free cyber vulnerability assessments and identity theft protection for the 28 million small businesses eligible to participate in the Small Business Administration’s Paycheck Protection Program. Leveraging its data and insights, Mastercard will provide U.S. small business owners access to its Local Market Intelligence™ solution in order to help them understand consumer spending trends in their communities.
“When our small businesses suffer our nation suffers, so it is incumbent upon all to ensure that we’re supporting the businesses who are the lifeblood of our economy and pillars of our communities,” said Michael Miebach, President of Mastercard. “We are leveraging our network, insights, technology and partnerships to deliver the resources small business owners need now to help them sustain their business as they quickly adapt to a new way of operating and evolved

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