Latest news with #MastercardSMEConfidenceIndex
Khaleej Times
27-02-2025
- Business
- Khaleej Times
Mastercard SME Confidence Index: Optimism at a high as businesses in the UAE embrace digital growth and expansion
Small and medium enterprises (SMEs) in the UAE are entering 2025 with strong optimism, fueled by a thriving digital economy, strong government support, and increasing access to financial solutions, according to the third edition of the Mastercard SME Confidence Index. The findings show that 91 per cent of SMEs in the UAE are optimistic about their business outlook, reflecting the nation's commitment to fostering an enabling environment for entrepreneurs and small businesses to scale and succeed. Additionally, 90 per cent expect to earn similar or more revenue this year compared to last year, an increase from the last survey. This confidence is driving expansion plans, with seven in ten SMEs seeking credit in 2025, primarily to scale their businesses rather than sustain operations. The study also highlights that digital transformation remains a key priority, with the vast majority of SMEs (83 per cent) focusing on enhancing digital payments, while others are prioritising financial inclusion and sustainability initiatives. "Small and medium enterprises are the backbone of economies, driving innovation, employment, and resilience. As digital transformation accelerates, SMEs are unlocking new opportunities through digital payments and financial inclusion. Their ability to adapt and grow in a rapidly evolving business landscape reflects the strength of an ecosystem that prioritizes access to finance, digital enablement, and sustainable growth," said Dimitrios Dosis, president — Eastern Europe, Middle East and Africa, Mastercard. "As the UAE advances its vision for a thriving digital economy, SMEs play a crucial role in driving innovation and growth. Their confidence in the future reflects not only their resilience but also the impact of an ecosystem designed to support their success. At Mastercard, we are committed to empowering SMEs with cutting-edge payment solutions, real-time insights, and strategic partnerships that help them scale sustainably and securely,' said J.K. Khalil, division president, East Arabia, Mastercard. Digital payments and data insights drive SME growth The study highlights the pivotal role of digital payments and data-driven decision-making in SME success. In the UAE, 92 per cent of SMEs now accept digital payments, up significantly from previous years. Meanwhile, nearly all SMEs (97 per cent) recognise the importance of better data, analytics, and insights in strengthening their businesses, signaling a shift toward smarter, tech-enabled operations. Access to credit as a growth catalyst With growth at the forefront of SME ambitions, 70 per cent of small businesses in the UAE are actively seeking credit, reflecting their appetite for investment and expansion. Mastercard's collaboration with financial institutions and fintech partners, such as Geidea, is expanding access to innovative credit solutions. By leveraging digital payment data and insights, SMEs can build stronger financial profiles, improving their ability to secure financing and manage cash flow effectively. Public and private sector collaboration to accelerate SME success The study reveals that over 80 per cent of SMEs in the UAE believe that private sector initiatives or partnerships have the greatest potential to positively impact their business. Mastercard continues to work closely with government and private sector partners to provide SMEs with the tools, training, and financial solutions they need to succeed. In 2024, the company partnered with Abu Dhabi Global Market (ADGM) to offer an SME-focused business education program, equipping entrepreneurs with knowledge on digital payments and financial management. As SMEs across the UAE embrace 2025 with confidence, the Mastercard SME Confidence Index serves as a critical barometer of their evolving needs, challenges, and aspirations. The company remains committed to translating this optimism into tangible progress by equipping SMEs with the tools, insights, and partnerships needed to scale sustainably. From enabling seamless digital payments and expanding access to credit, to fostering financial inclusion and upskilling entrepreneurs through strategic collaborations, Mastercard continues to play a pivotal role in shaping a thriving SME ecosystem in an increasingly digital and interconnected economy.
Al Bawaba
23-02-2025
- Business
- Al Bawaba
Mastercard SME Confidence Index: Optimism at a high as businesses in the UAE embrace digital growth and expansion
Small and medium enterprises (SMEs) in the UAE are entering 2025 with strong optimism, fueled by a thriving digital economy, strong government support, and increasing access to financial solutions, according to the third edition of the Mastercard SME Confidence Index. The findings show that 91% of SMEs in the UAE are optimistic about their business outlook, reflecting the nation's commitment to fostering an enabling environment for entrepreneurs and small businesses to scale and succeed. Additionally, 90% expect to earn similar or more revenue this year compared to last year, an increase from the last survey. This confidence is driving expansion plans, with seven in ten SMEs seeking credit in 2025, primarily to scale their businesses rather than sustain operations. The study also highlights that digital transformation remains a key priority, with the vast majority of SMEs (83%) focusing on enhancing digital payments, while others are prioritizing financial inclusion and sustainability initiatives. 'Small and medium enterprises are the backbone of economies, driving innovation, employment, and resilience. As digital transformation accelerates, SMEs are unlocking new opportunities through digital payments and financial inclusion. Their ability to adapt and grow in a rapidly evolving business landscape reflects the strength of an ecosystem that prioritizes access to finance, digital enablement, and sustainable growth,' said Dimitrios Dosis, president Eastern Europe, Middle East and Africa, Mastercard. 'As the UAE advances its vision for a thriving digital economy, SMEs play a crucial role in driving innovation and growth. Their confidence in the future reflects not only their resilience but also the impact of an ecosystem designed to support their success. At Mastercard, we are committed to empowering SMEs with cutting-edge payment solutions, real-time insights, and strategic partnerships that help them scale sustainably and securely,' said J.K. Khalil, division president, East Arabia, Mastercard. Digital payments and data insights drive SME growth The study highlights the pivotal role of digital payments and data-driven decision-making in SME success. In the UAE, 92% of SMEs now accept digital payments, up significantly from previous years. Meanwhile, nearly all SMEs (97%) recognize the importance of better data, analytics, and insights in strengthening their businesses, signaling a shift toward smarter, tech-enabled operations. Access to credit as a growth catalyst With growth at the forefront of SME ambitions, 70% of small businesses in the UAE are actively seeking credit, reflecting their appetite for investment and expansion. Mastercard's collaboration with financial institutions and fintech partners, such as Geidea, is expanding access to innovative credit solutions. By leveraging digital payment data and insights, SMEs can build stronger financial profiles, improving their ability to secure financing and manage cash flow effectively. Public and private sector collaboration to accelerate SME success The study reveals that over 80% of SMEs in the UAE believe that private sector initiatives or partnerships have the greatest potential to positively impact their business. Mastercard continues to work closely with government and private sector partners to provide SMEs with the tools, training, and financial solutions they need to succeed. In 2024, the company partnered with Abu Dhabi Global Market (ADGM) to offer an SME-focused business education program, equipping entrepreneurs with knowledge on digital payments and financial management. As SMEs across the UAE embrace 2025 with confidence, the Mastercard SME Confidence Index serves as a critical barometer of their evolving needs, challenges, and aspirations. The company remains committed to translating this optimism into tangible progress by equipping SMEs with the tools, insights, and partnerships needed to scale sustainably. From enabling seamless digital payments and expanding access to credit, to fostering financial inclusion and upskilling entrepreneurs through strategic collaborations, Mastercard continues to play a pivotal role in shaping a thriving SME ecosystem in an increasingly digital and interconnected economy.
Mid East Info
21-02-2025
- Business
- Mid East Info
Mastercard SME Confidence Index: Optimism at a high as businesses in the UAE embrace digital growth and expansion
Mastercard SME Confidence Index: Optimism at a high as businesses in the UAE embrace digital growth and expansion. Seven in ten SMEs plan to seek credit this year to scale operations, as digital payments and data-driven strategies take center stage Dubai, UAE; 20 February 2025: Small and medium enterprises (SMEs) in the UAE are entering 2025 with strong optimism, fueled by a thriving digital economy, strong government support, and increasing access to financial solutions, according to the third edition of the Mastercard SME Confidence Index. The findings show that 91% of SMEs in the UAE are optimistic about their business outlook, reflecting the nation's commitment to fostering an enabling environment for entrepreneurs and small businesses to scale and succeed. Additionally, 90% expect to earn similar or more revenue this year compared to last year, an increase from the last survey. This confidence is driving expansion plans, with seven in ten SMEs seeking credit in 2025, primarily to scale their businesses rather than sustain operations. The study also highlights that digital transformation remains a key priority, with the vast majority of SMEs (83%) focusing on enhancing digital payments, while others are prioritizing financial inclusion and sustainability initiatives. 'Small and medium enterprises are the backbone of economies, driving innovation, employment, and resilience. As digital transformation accelerates, SMEs are unlocking new opportunities through digital payments and financial inclusion. Their ability to adapt and grow in a rapidly evolving business landscape reflects the strength of an ecosystem that prioritizes access to finance, digital enablement, and sustainable growth,' said Dimitrios Dosis, president Eastern Europe, Middle East and Africa, Mastercard. 'As the UAE advances its vision for a thriving digital economy, SMEs play a crucial role in driving innovation and growth. Their confidence in the future reflects not only their resilience but also the impact of an ecosystem designed to support their success. At Mastercard, we are committed to empowering SMEs with cutting-edge payment solutions, real-time insights, and strategic partnerships that help them scale sustainably and securely,' said J.K. Khalil, division president, East Arabia, Mastercard. Digital payments and data insights drive SME growth: The study highlights the pivotal role of digital payments and data-driven decision-making in SME success. In the UAE, 92% of SMEs now accept digital payments, up significantly from previous years. Meanwhile, nearly all SMEs (97%) recognize the importance of better data, analytics, and insights in strengthening their businesses, signaling a shift toward smarter, tech-enabled operations. Access to credit as a growth catalyst: With growth at the forefront of SME ambitions, 70% of small businesses in the UAE are actively seeking credit, reflecting their appetite for investment and expansion. Mastercard's collaboration with financial institutions and fintech partners, such as Geidea, is expanding access to innovative credit solutions. By leveraging digital payment data and insights, SMEs can build stronger financial profiles, improving their ability to secure financing and manage cash flow effectively. Public and private sector collaboration to accelerate SME success: The study reveals that over 80% of SMEs in the UAE believe that private sector initiatives or partnerships have the greatest potential to positively impact their business. Mastercard continues to work closely with government and private sector partners to provide SMEs with the tools, training, and financial solutions they need to succeed. In 2024, the company partnered with Abu Dhabi Global Market (ADGM) to offer an SME-focused business education program, equipping entrepreneurs with knowledge on digital payments and financial management. As SMEs across the UAE embrace 2025 with confidence, the Mastercard SME Confidence Index serves as a critical barometer of their evolving needs, challenges, and aspirations. The company remains committed to translating this optimism into tangible progress by equipping SMEs with the tools, insights, and partnerships needed to scale sustainably. From enabling seamless digital payments and expanding access to credit, to fostering financial inclusion and upskilling entrepreneurs through strategic collaborations, Mastercard continues to play a pivotal role in shaping a thriving SME ecosystem in an increasingly digital and interconnected economy.
Zawya
21-02-2025
- Business
- Zawya
85% of Egyptian SMEs adopt digital payments: Mastercard Confidence Index
Egypt - Small and medium-sized businesses in Egypt are quickly adopting digital payments to improve efficiency and financial stability, according to the latest Mastercard SME Confidence Index. The report shows that 85% of SMEs in Egypt now accept digital payments, moving away from cash to enhance security, simplify transactions, and build credibility. 'As digital transformation accelerates, SMEs are unlocking new opportunities through digital payments and financial inclusion. Their ability to adapt and grow in a rapidly evolving business landscape reflects the strength of an ecosystem that prioritizes access to finance, digital enablement, and sustainable growth,' said Dimitrios Dosis, president Eastern Europe, Middle East and Africa, Mastercard. Business owners say digital payments help them access funds faster, reduce fraud risks, and make it easier to pay suppliers and employees. Despite challenges like rising costs of goods and services, which 70% of SMEs identified as a major concern, many are investing in digital solutions to cut costs and improve productivity. About one in three SMEs plan to seek credit not just to stay afloat but to expand their businesses and strengthen their finances. Strategic partnerships are also key to business growth, with 45% of SMEs recognizing the value of working with private sector companies to access financial tools, technology, and market insights. To support this shift, Mastercard has teamed up with MaxAB, a major B2B marketplace in Egypt, to help businesses embrace digital payments. This partnership provides contactless payment solutions, reducing reliance on cash while improving security and efficiency. 'Mastercard is committed to supporting this transition by providing advanced payment technologies, strategic partnerships and tailored financial tools that empower SMEs to thrive in an increasingly digital economy,' said Adam Jones, division president, West Arabia, Mastercard. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
21-02-2025
- Business
- Zawya
Saudi SMEs show optimism towards 2025 upon Mastercard Confidence Index
Riyadh – Small and medium enterprises (SMEs) in Saudi Arabia are viewing 2025 with remarkable optimism that is driven by a robust embrace of digitalisation and innovative technologies, according to the third edition of the Mastercard SME Confidence Index. This positive outlook aligns seamlessly with the Kingdom's Vision 2030 objectives, aiming to diversify the economy and enhance the contribution of SMEs to the national GDP. A significant majority representing 93% of the SMEs surveyed in the Kingdom are confident about the next 12 months. Business owners are recognising the critical role of seamless and secure transactions in today's marketplace while prioritising the adoption of advanced data analytics and insights, viewing these tools as essential for informed decision-making and strategic growth. Mastercard's President for Eastern Europe, Middle East, and Africa, Dimitrios Dosis, said: 'Small and medium enterprises are the backbone of economies, driving innovation, employment, and resilience.' Dosis elaborated: 'As digital transformation accelerates, SMEs are unlocking new opportunities through digital payments and financial inclusion. Their ability to adapt and grow in a rapidly evolving business landscape reflects the strength of an ecosystem that prioritizes access to finance, digital enablement, and sustainable growth.' Meanwhile, the widespread adoption of digital payments among Saudi SMEs underscores a strategic move towards efficiency and customer satisfaction. With 99% of the SMEs surveyed in Saudi Arabia now accepting digital payments, marking an increase from 88% in the Mastercard SME Confidence Index 2023, business owners are leveraging digital transactions to fast-track their growth. Mastercard's Division President for West Arabia, Adam Jones, noted: 'The confidence among SMEs in Saudi Arabia highlights the strength and adaptability of this sector. As businesses continue to embrace digitalization and new technologies, access to secure payments, data-driven insights and financial solutions will be key enablers of their success.' SMEs cite enhanced credibility with government and financial institutions (56%), streamlined transactions with suppliers and employees (55%), and faster access to revenues (55%) as the top benefits of a digitized economy. The study also found that as digitalisation accelerates, business owners are prioritising secure, user-friendly, and data-driven financial solutions to stay competitive in a rapidly evolving market. AI and Digital Inclusion for Growth As Saudi Arabia's SME sector continues to evolve, business owners are focused on leveraging innovation and expanding digital inclusion to sustain long-term growth. Many SMEs see AI, automation and digital platforms as essential tools for streamlining operations and enhancing customer engagement. According to the Mastercard SME Confidence Index, 72% of the SMEs surveyed have identified AI adoption as a key priority, reflecting a growing emphasis on digital transformation. Private sector collaboration is also viewed as a key driver of success, with 66% of the SMEs surveyed highlighting the importance of partnerships in gaining access to financial resources, technology and business insights. Additionally, as businesses embrace digital transformation, 97% of the respondents believe cybersecurity and regulatory support remain top considerations for ensuring a secure and resilient commercial environment. Aligning with Vision 2030's emphasis on economic diversification and SME empowerment, Mastercard announced in 2024 the launch of a local technology infrastructure to process e-commerce transactions efficiently, reinforcing its position as an enabler of Saudi Arabia's digital economy. Under the patronage of the Saudi Central Bank (SAMA), Mastercard Gateway continues to enhance the Kingdom's digital payments ecosystem, providing businesses with seamless, secure payment solutions to drive growth and innovation in the e-commerce sector. Additionally, Mastercard joined forces with Saudi Awwal Bank (SAB) to introduce the SME Business credit card that enables small businesses to manage their finances efficiently while facilitating access to credit. Earlier in February 2025, Saudi Arabia hosted the leading tech and AI platform LEAP for four days in the capital Riyadh.
