Mastercard partners with NowNow to reduce the risk of cyberattacks on SMEs.
This is currently offered in Angola and other countries.
Mastercard supports SMEs with $250,000,000.
The Digital Payment System by NowNow
In order to help businesses lower the risk of cyberattacks, Mastercard has teamed with NowNow, a Nigerian startup that specializes in digital payments to nip the arising cyberattack issues in the bud.
Cybercrime has significantly increased over the past few years. Nigeria loses an estimated $500,000,000 per year as a result of cybercrime, according to the Nigerian Communications Commission.
SMEs are a major target for cybercriminals because they frequently lack the resources to defend themselves or to respond appropriately after a breach. Regular web application penetration examinations by NowNow help SMEs make sure their programs are secure from online attacks.
This technological service is currently offered in Nigeria and Angola, and it is gaining popularity in a number of other markets (Equatorial Guinea, Liberia, and UAE).
NowNow received operational support, business engagement opportunities, and the chance for strategic investment as a part of the Mastercard Start Path Global Program, which is intended to aid later-stage businesses in innovating and growing.
Mastercard also pledged $250,000,000 over a five-year period to assist SMEs in response to the devastating effects of COVID-19, including the establishment of the Mastercard Trust Centre to address their cybersecurity concerns.
Founded in 2018, the Nigerian fintech company NowNow is a digital Payment System that provides financial services to consumers, Agents, and SMEs.