Singapore – SMEs across the Asia-Pacific are increasingly participating in global trade, but complex cross-border payment processes and limited transaction visibility continue to pose operational challenges.
Mastercard has introduced the Mastercard Global Commerce Suite for Small Businesses, a platform powered by Mastercard Move designed to help banks better support SMEs managing international payments.
The solution is initially available to banks and financial institutions in Hong Kong SAR, a major regional commercial hub, with plans to expand into other Asia Pacific markets.
“SMEs want to move money across borders with the same speed and confidence as domestic transactions, but many banks remain constrained by legacy systems,” Anouska Ladds, executive vice president, commercial and new payment flows, Asia Pacific, Mastercard, stated.
“Our platform aims to offer banks a powerful, scalable way to support SME growth by bringing payments, visibility, and control together in one platform that is purpose-built for cross-border commerce.”
Digital commercial payments in the region are expected to grow at an annual rate of 14.7% through 2028, driven by the continued digitalisation of SMEs and their growing role in international commerce. As participation in cross-border trade increases, financial institutions are under pressure to provide simpler payment systems that reduce operational complexity while enabling businesses to scale internationally.
The Mastercard Global Commerce Suite for Small Businesses enables financial institutions to provide SMEs with tools to manage payments, collections and expenses through a single interface. The offering includes access to virtual accounts in multiple currencies as well as multi-currency payment cards, allowing businesses to transact internationally while maintaining local payment capabilities.
The system also supports application-based management tools and API connectivity that allow integration with e-commerce platforms and digital marketplaces.
“Our platform enables banks to serve SMEs more effectively, while building the foundation for deeper, long-term relationships as their customers grow,” Anouska added.
Additionally, enhanced transaction tracking and near real-time settlement updates are intended to improve cash flow visibility for businesses managing international operations. Security features include authentication mechanisms and compliance functions aimed at reducing fraud risk and operational friction in cross-border payments.
Overall, banks across APAC are increasingly modernising commercial banking services as payment ecosystems become more digital and data-driven. Mastercard supports this transition through infrastructure that connects payment networks, accounts and digital platforms, enabling financial institutions to scale commercial payment services while supporting the evolving requirements of SMEs engaged in international trade.
