Visa has announced it has helped to digitally-enable 16 million small and micro businesses (SMBs) worldwide, or just over 30% of the multi-year goal it set in 2020 to digitise 50 million SMBs.
Through community-based programs set in motion from Dubai to DC, Visa has provided SMBs with the tools, services and education necessary to accept digital payments and gain greater access to the digital economy. Visa research released in the 5th edition of the Visa Back to Business global study shows just how essential it is for SMBs to continue to digitally accelerate, with 92% of consumers saying COVID-19 has permanently changed how they will pay.
“With an 18-month view into the pandemic now, we have seen that small businesses that have embraced digital commerce and cross-border selling have generally weathered the pandemic and that seemingly small pivots toward digital commerce can continue to make the difference between a small business surviving and thriving,” said Shahebaz Khan, General Manager for the UAE, Visa. “We are proud of the work we have done to help small businesses here in the UAE access the digital economy, and we will continue to help many more, one digital payment at a time.”