Improved cybersecurity for SMEs: MasterCard Trust Centre partners Nigerian fintech startup NowNow

In a bid to improve cybersecurity for Small and Medium Enterprises (SMEs), MasterCard Trust Centre, has announced it will partner Nigerian fintech startup NowNow to achieve that aim.

This partnership will address the cybersecurity needs of SMEs by providing them with free resources to help educate and improve their cybersecurity ecosystem.

NowNow is the only African start-up participating in the latest Mastercard Start Path Global Programme.

According to the firm, the partnership will make the Mastercard Trust Centre more accessible to its partner SMEs.

Announcing the partnership, Executive Vice President, Product Optimization and Customer Advancement, Cyber and Intelligence at Mastercard, Paul Trueman, noted that there has been a significant increase in cybercrime in recent years.

According to the Nigerian Communications Commission, NCC, Nigeria loses an estimated $500,000,000 yearly due to cybercrime.

SMEs are a huge target for cybercriminals as they typically do not have the resources to defend themselves or to act accordingly once they have been breached. NowNow supports SMEs with regular web application penetration tests to ensure that applications are not vulnerable to any cyber threats. It is currently available in Nigeria and Angola and is expanding into several other markets (Equatorial Guinea, Liberia, and UAE).

As part of the Mastercard Start Path Global Program, which is designed to help later-stage startups innovate and scale, NowNow was provided with operational support, commercial engagement, and the opportunity for strategic investment.

Trueman said, “As Mastercard brings the next billion people into the digital economy, it is vital that business owners feel as secure and safe from cybercrime as possible. Our partnership with NowNow is key to achieving this. Whether large or small, businesses deserve the peace of mind to operate knowing that they are being kept safe.”

Also speaking, the CEO of NowNow Sahir Berry said: “Like Mastercard, NowNow is committed to driving financial and digital inclusion by building an ecosystem that digitizes payments and creates access to financial services for businesses, governments, and customers in rural and urban communities using simplified branchless banking initiatives.

“We are excited to partner with the Mastercard Trust Centre to help our customers improve the security of their cyber ecosystem, and better protect themselves from cyber criminals.”

The Mastercard Trust Centre is a microsite on the Mastercard.com site. It helps SMEs to defend their critical assets, business, and reputation by providing online access to trusted cybersecurity research, curated education, resources, and tools from Mastercard and trusted external sources.

Recognising that each business has unique needs, the Mastercard Trust Centre provides a tailor-made approach, whether they are entrepreneurs starting to learn about cybersecurity, or business owners expanding their knowledge or mastering cybersecurity.

Mastercard develops partnerships with external businesses such as NowNow, non-profit organizations, and governments to bring the Mastercard Trust Centre to its partners’ SME communities.