Mastercard unveils SME card with built-in cybersecurity solutions

MIAMI, FLORIDA:

Small and medium-sized enterprises (SMEs) across Latin America and the Caribbean (LAC) are set to gain stronger protection in the digital economy with Mastercard’s enhanced SME business credit card, now featuring built-in cybersecurity tools, the company has said..

The upgraded card includes My Cyber Risk and Identity Theft Protection, designed to safeguard businesses from a growing range of cyber threats while supporting their digital transformation.

“It was really listening from the SMEs, evolving our value preposition to meet their needs and from their launching this new product,” said Walter Pimenta, executive vice-president for commercial and new payment flows at Mastercard LAC.

My Cyber Risk gives SMEs a clear risk rating, a prioritised view of vulnerabilities, an inventory of Internet-facing systems and practical remediation steps while Identity Theft Protection continuously monitors for compromised business credentials, including emails, bank accounts, and identification data, instantly alerting owners of potential incidents.

Pimenta, speaking at a round-table session during the Mastercard LAC 2025 Innovation Forum on Monday, confirmed that the new cybersecurity features would be available across the region starting January 1, 2026.

He emphasised that shifting consumer behaviour toward digital payments is reshaping commerce, making digital adoption essential for SMEs.

“Consumers have gone digital, and that’s a given in every single market, even in markets that are very cash heavy,” he said. “So either the SMEs go digital or they lose sales, and I think this is becoming much more of an area of attention for SMEs,”

UNDERSERVED SECTOR

Mastercard’s vice-president for SMEs, Mark Barnett, noted that while SMEs represent more than 90 per cent of businesses in LAC and contribute significantly to GDP – ranging from 20 to 35 per cent in many countries – the sector has historically been underserved.

In Jamaica, for instance, approximately 425,000 small businesses operate, but only about 14,000 are officially registered. Across the region, around 70 per cent of SMEs rely on digital payments to survive.

In Jamaica, SMEs that have embraced digital payments say they have seen significant growth in their businesses.

This is accoording to a Mastercard study conducted between March and April this year. It also found that 91 per cent of SMEs already accepting digital payments reported significant business growth while 54 per cent of non-digital SMEs expressed interest in adopting such technology. Additionally, 69 per cent admitted losing customers weekly due to the lack of digital payment options.

Another recent Mastercard survey revealed that 86 per cent of SMEs in LAC have conducted cyber-risk assessments, yet few feel fully prepared to respond to evolving threats. With 46 per cent of small businesses reporting a cyberattack in the past year, Barnett stressed the importance of Mastercard’s innovation.

“I’d like to get to a point where everybody who has a Mastercard small business card has cyber protection. That isn’t the case globally, but pretty soon, that’s gonna be the case in LAC,” he said.

Beyond cybersecurity, Mastercard is expanding its SME offerings with a suite of tools and services, including the Digital Presence Optimizer, which helps businesses strengthen their online presence and reputation. This tool will be available across LAC by July 1, 2026.

Additional benefits for cardholders include SME home care for business cards, missed-flight coverage for Executive and World Elite cards, hotel or motel protection for Black Business cards, and remote legal and tax support through Mastercard partner Grupo Mok.

sashana.small@gleanerjm.com