Responding to the identified payment education gap in Canada
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TORONTO, May 26, 2014 /CNW/ - MasterCard Canada is responding to a recent research study from Rotman School of Management that identified lack of payment education as the biggest hurdle to future prosperity and sustainable business growth for Canada's businesses. This summer, MasterCard will be launching a series of education sessions across Canada called Master Your Card, aimed at helping businesses better understand how to make the most of payment technologies and other topics relevant to growing their businesses.
The Master Your Card sessions will cover topics such as:
- Payments 101: How to make the most of electronic payment acceptance
- How to work with your payment industry partners
- New Payment Technologies
- Opportunities in eCommerce
- Social Media for Business Owners
"We believe empowering Canada's businesses with the right tools and resources will allow them to benefit from our payment innovations. We have a responsibility to close the information gap and make sure a business owner understands the opportunities and obstacles," said Betty K. DeVita, President, MasterCard Canada.
Starting on June 24th, 2014 in Toronto, the education sessions will be a permanent part of MasterCard's outreach to small businesses and roll out to include sessions in, Edmonton, Calgary, Burlington, Belleville, Ottawa, Halifax and Fredericton. In addition, MasterCard will continue to work with Business Improvement Areas (BIAs) to participate in local and retail association meetings.
As Canadians embrace contactless and mobile payments, Canada's small businesses need a go-to resource to get the information that will help them build, grow and expand their business and the delivery of products and services.
"I participated last year and found the information really helpful. When you're running your own business, you don't have a ton of time so every bit helps – whether that's giving me the edge in negotiating a better rate or helping me understand why I need a new type of payment technology – I'm glad I can get what I need from these sessions," said Michelle Baboolall, Owner, Homegrown Boutique.
The Small Business Education Sessions, launched as a pilot program in 2013, connected MasterCard subject matter experts with hundreds of small businesses in Toronto, Montreal, Edmonton, Vancouver, Brampton, Halifax and Mississauga to bring greater transparency and information sharing directly to merchants.
Key Small Business Facts (Statistics Canada):
- Small businesses were forecasted to grow by 17.7% between 2012 and 2014
- 70% fewer businesses filed for bankruptcy In 2012 than in 2001
- At the end of 2012, more than 1.8 million businesses identified as small businesses (SMEs) were operating in Canada
- 98% of businesses operating in Canada are considered SMEs
- Of the 1 million+ SMEs, 55% have between one and four employees
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardCAnws, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.
SOURCE: MasterCard Canada