Dubai, UAE; 12 September 2024: Businesses utilizing Mastercard Business cards within the Eastern Europe, Middle East, and Africa (EEMEA) region are about to gain access to an exciting new feature—a business subscription management tool developed in collaboration with technology partner Nuclei. This cutting-edge tool aims to assist small businesses in optimizing their operations and cutting down on expenses.
Initially, the user-friendly and budget-conscious platform will be rolled out in the GCC region, with plans to expand to the broader EEMEA area in subsequent phases.
Many small and medium-sized enterprises (SMEs) face the challenge of managing multiple subscriptions for various corporate services, often with varying renewal dates. As the number of subscriptions grows, effectively overseeing them can become increasingly difficult, leading companies to incur unwarranted costs when failing to cancel unwanted subscriptions. This new tool aims to simplify the tracking of numerous subscriptions with minimal hassle.
Additionally, this solution provides a significant incentive for subscription providers, encouraging businesses to opt for card payments rather than slower account-to-account (A2A) transfers.
“The subscription landscape has evolved dramatically in recent years, with a wide array of products and services transitioning into subscription models. This trend is fostering the demand for tools that support the substantial expansion of the subscription sector. Our groundbreaking platform meets the needs of the growing number of businesses that depend on subscriptions, helping to eliminate inefficiencies and empowering users to get the most value from their subscriptions,” stated Ankur Joshi, Founder and CEO of Nuclei.
“Small businesses play a crucial role in driving inclusive and sustainable economic growth; however, many are struggling to keep pace with swift digital changes. At Mastercard, our commitment is to equip them with the resources necessary for thriving in a digital world, aiming to connect 50 million micro, small, and medium enterprises (MSMEs) to the digital economy. Our collaboration with Nuclei addresses various challenges that MSMEs face in managing their business subscriptions, particularly concerning costs and the time and energy required,” added Thomas Kuncheria, Senior Vice President for Small and Medium Enterprises in EEMEA at Mastercard.
Nuclei is a global fintech company focused on B2B solutions, dedicated to infusing consumer technology principles into banks and telecom firms to enable them to offer innovative products to their clientele. The company is a proud member of the Mastercard Start Path, an acclaimed program supporting emerging fintech startups.