In line with its commitment to support the UAE’s evolving Small and Medium Enterprise (SME) segment, MasterCard today announced its association with the upcoming Gulf Capital SMEinfo Awards 2012  scheduled to be held in Dubai on November 7th, 2012.
The Gulf Capital SMEinfo Awards 2012 program recognizes success, growth and innovation in business. This year MasterCard has announced its participation as a sponsor for the ‘Small Business of the Year’ category. This award has been designed to recognize a UAE-based business that has exhibited consistent growth and strong financial performance.
The contestants for this award must showcase their success in delivering key goals, competitor advantage along with growth and innovation that has been applied to the business. SMEs based in the UAE with a turnover of 50 million dirhams or less and with an employee base of 250 or less were eligible to apply for the MasterCard Small Business of the Year award.
Commenting on MasterCard’s support for the Gulf Capital SMEinfo Awards 2012, Raghu Malhotra, division president, Middle East and North Africa, MasterCard Worldwide said, “Healthy growth of the SME segment is crucial towards maintaining a sustainable economic model for any country. As a global leader in payment solutions, we understand the dynamics of this segment and have developed sophisticated and customized solutions that help SME business owners address their needs effectively”.
He added, “MasterCard’s association with Gulf Capital SMEinfo Awards 2012 is a testament of our commitment towards effectively engaging with local businesses and developing tailored solutions that also reflect our global knowledge and expertise. We are confident that the awards will prove to be a prominent platform that will continue to inspire SME establishments in the UAE and beyond to achieve better financial performance and overall growth”.
MasterCard has been at the forefront of introducing innovative payment solutions for the SME segment, as it is a key business focus. MasterCard’s products designed specifically for the SME segment are a key component of its ‘Commercial Payment Solutions’ portfolio that includes a comprehensive suite of solutions developed through extensive research and product innovation.
MasterCard’s ‘One Card Solution for Small Business’ consolidates all business expenses on one card, allowing SMEs to easily access consolidated information about their expenditures . Besides this, the ‘Premium SME card program’ offers elite travel benefits and customized rewards.
MasterCard’s ‘Small Business Debit’ product offers SMEs enhanced control and options for managing their cash flow. Another unique solution, ‘MasterCard inControl™’, allows small businesses to have complete control over spending. MasterCard’s commercial payment product portfolio has witnessed strong growth in the region as both private and public sectors seek increased transparency in spending by seamlessly tracking and managing budgets.