Mastercard ties-up with CAIT to launch small business support coalition

Mastercard has tied-up with trader body CAIT to support small business

Payment processing company Mastercard and India’s largest trader body CAIT have partnered to support businesses which are struggling to remain open and resume operations as they grapple with new norms of safety and health protection. 
The tie-up will be working toward educating small merchants and kirana shop owners with government approved protocols with improved safety and hygiene. To mark the launch, the coalition is looking to distribute 35,000 health protection kits in some of Delhi’s busiest markets which include Sadar Bazar, Chandni Chowk and Karol Bagh. 
The inaugural health protection kit was presented to Harsh Vardhan, Union Minister of Health and Family Welfar and also to Hardeep Singh Puri, Minister of Housing and Urban Affairs at their respective residence. Minister of Housing and Urban Affairs Hardeep Singh Puri said in a statement, “At this point of our fight against the Covid-19 pandemic, awareness about adhering to social distancing norms and following safety protocols is crucial to support small businesses. I also encourage more entities to come forward to support the merchant community as they adapt to the new normal.”

Praveen Khandelwal, National Secretary General for CAIT said, “Small merchants have been the hardest hit from the COVID 19 pandemic, and we are determined to help them for what they may need as they emerge on the other side. Reopening of their business has brought them relief and much-needed hope to survive in a post-COVID world.”

Vipin Sharma, CEO, ACCESS Development Services said, “The pandemic has resulted in great turbulence, uncertainties and ambiguities as we grapple with an unprecedented situation. In all of this, small businesses, given their vulnerabilities, are the hardest hit. Small businesses contribute about a third of gross domestic product and employ more than 110 million people. As a part of this initiative undertaken by Mastercard, we intend to extend our support to micro-merchants and handhold them to grow and scale.”

Porush Singh, Division President, South Asia, Mastercard said, “The Small Business Support Coalition is a vital step towards enabling small merchants and our neighborhood stores to resume operations and stay open for business in the coming months. By joining forces with different stakeholders – members of the industry, government, customers and SME associations – Mastercard believes that this collective work will help our communities to emerge even stronger from this crisis.”