MasterCard partners NowNow to improve cybersecurity for Nigerian SMEs

By Gloria Methri

Mastercard has partnered with Nigerian digital payment start-up NowNow, to help SMEs reduce the risk of cyberattacks. Small and medium businesses tend to be huge targets for cybercriminals as they typically do not have the resources to defend themselves.

NowNow supports SMEs with regular web application penetration tests to ensure that applications are not vulnerable to 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.

Paul Trueman, Executive Vice President, Product Optimization and Customer Advancement, Cyber & Intelligence at Mastercard 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.”

Recognizing the impact of COVID-19 on SMEs, Mastercard committed $250 million over five years to help SMEs, including establishing the MasterCard Trust Centre to address their cybersecurity needs.

Sahir Berry, CEO of NowNow said, “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 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. The company develops partnerships with external businesses such as NowNow, non-profit organizations, and governments to bring the Trust Centre to its partners’ SME communities.