The Success of Mastercard’s Strive Mexico Program
Mastercard Mexico has successfully supported over 400,000 micro and small businesses through its Strive Mexico program over the past three years. The initiative aimed to aid these businesses in their digital transformation, recovery from the pandemic, and integration into the formal economy.
Led by Mastercard’s Center for Inclusive Growth, this effort significantly impacted thousands of entrepreneurs who found digitalization as a crucial tool to grow and strengthen their businesses.
Mauricio Schwartzmann, Country Manager of Mastercard Mexico, expressed his pride: “Empowering and supporting more than 400,000 small businesses is an achievement of which we are immensely proud. This is just another step towards creating more inclusive economic opportunities in Mexico.”
The Origin of Strive Mexico
Strive Mexico was launched in 2022, amidst the economic recovery post-pandemic, with a fundamental question: How can we help small businesses adapt to the digital era?
In an interview with El Economista, Luz Gómez, Vice President of Research and Insights at Mastercard’s Center for Inclusive Growth, recalled that the primary goal was to strengthen the resilience of micro and small businesses in a constantly changing economic and technological environment.
“We initiated Strive Mexico three years ago with the challenge of accompanying micro and small businesses to leverage the digital environment, improve their operations, and become stronger. We had a special focus on women entrepreneurs because we identified significant gaps in digitalization and access to credit,” Gómez explained.
Since then, the program has provided training tools, hybrid consulting, personalized mentoring, and access to technology platforms designed for digitalizing processes such as payments, accounting, and social media promotion.
A Tangible Increase in Sales and Formalization
One of the most significant findings from the program was the direct impact of digitalization on sales. According to a study conducted by Mastercard in collaboration with Stanford University, businesses that adopted digital payments for at least six months saw a sales increase of up to 23 percentage points.
“Digitized businesses not only sell more but also become visible to the financial system. When they operate solely in cash, they are invisible; nobody truly knows how well they’re doing. However, once digitalized, they generate records, history, and credibility to access financial services and credits,” Gómez detailed.
This process, she added, represents not just a technological leap but also an open door to formalization and financial inclusion, crucial factors for sustainable economic development.
Women at the Center of Change
One of the program’s pillars was the inclusion of women entrepreneurs. Mastercard connected female leaders of microenterprises with volunteer mentors specializing in various business areas.
“Women entrepreneurs faced smaller, less digitalized businesses with limited access to credit. With mentoring, we offered them flexible, adaptable support tailored to their time and needs, which made a difference. It’s not just about technology; it’s also about the human touch that boosts confidence and project sustainability,” Gómez explained.
This approach improved digital tool adoption among women, increased online sales, and strengthened community support networks, amplifying the program’s impact beyond mere indicators.
Collaboration for an Inclusive Ecosystem
The success wasn’t isolated. Mastercard collaborated with strategic partners like Fundación Capital and BFA Global, as well as government institutions, fintechs, banks, and local cooperatives.
“We don’t do this alone. Our model is collaborative; we work with actors already close to micro and small businesses. It’s a collective effort combining technology, financing, and training,” Gómez emphasized.
A New Chapter: Mastercard Avance MiPyMe, a Mastercard Strive Program
The new phase of the program, Mastercard Avance MiPyMe, marks the beginning of a cycle with greater depth and innovation. The initiative aims to expand its reach and leverage emerging technologies—such as artificial intelligence—to offer personalized, sustainable solutions to small businesses.
“We’ve come this far, but there’s much more to do. We want to continue helping micro and small businesses advance within an increasingly digital community. This is a new commitment to Mexico’s inclusive economic development,” Gómez highlighted.
At the end of the interview, Luz Gómez shared a message for micro and small business owners: “Sometimes digital tools can seem intimidating, but my advice is to take that next step. Learning something new always opens opportunities.”
Key Questions and Answers
- What is the Mastercard Strive Mexico program? It’s a three-year initiative by Mastercard Mexico that supported over 400,000 micro and small businesses in digital transformation, recovery from the pandemic, and integration into the formal economy.
- What were the program’s primary goals? The main objectives were to strengthen the resilience of micro and small businesses, promote digitalization, and support women entrepreneurs.
- What impact did digitalization have on sales? Businesses that adopted digital payments saw a sales increase of up to 23 percentage points.
- How did the program support women entrepreneurs? Through personalized mentoring and flexible support tailored to their needs, the program improved digital tool adoption among women and strengthened community support networks.
- Who collaborated in the program’s success? Mastercard worked with strategic partners like Fundación Capital, BFA Global, government institutions, fintechs, banks, and local cooperatives.
- What’s next for the program? The new phase, Mastercard Avance MiPyMe, aims to expand its reach and leverage emerging technologies for personalized, sustainable solutions to small businesses.
