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Home Technology Visa for the digital start-up of small businesses in Europe

Visa for the digital start-up of small businesses in Europe

More than two million small business owners in Europe have already received support since the program’s launch in the summer of 2020.

As part of the economic recovery after Covid-19, Visa is well on its way to achieving its goal of helping eight million small businesses across Europe adapt and reap the benefits of digital business.

Visa reports that more than 100 Visa partners have joined the initiative “It matters where you shop”, with which they want to help small business owners reach for digital capabilities and thus contribute to the whole society.

More than two million small business owners in Europe have already received support since the launch of the program in the summer of 2020. Today’s announcement marks an important milestone in the Commitment to help 8 million SMEs in Europe – and 50 million SMEs worldwide – with online activities, adapt and prepare for the future.

The epidemic has cut deep into Europe’s economy, and the consequences for SMEs are unimaginable. The results of a survey conducted by Visa show that as many as 65% of small business owners are worried about the future.[1] Because many businesses have had to operate under strict restrictions and at a time of complete cessation of public life, small businesses are redirecting their activities online to adopt digital forms of payment. Visa data shows that more than 10 countries in Europe are recording 20% ​​growth in online sales, and eight out of ten transactions are contactless today.

Alenka Mejač Krassnig, director of Visa in Slovenia, said: “Small businesses are an important part of our society and many, despite all the limitations and challenges, continue to operate. Their innovations and entrepreneurial spirit inspire us, the way they have adapted inspires us. We are proud that more than two million small businesses are already involved in many of our partners ’initiatives. We remain committed to working with our customers and partners toward economic recovery and keeping small businesses at the heart of our communities. ” In dodala: “In Slovenia, we are cooperating with our partners in the introduction of ‘tap to phone’ technology, which will enable merchants to make contactless payments via mobile devices, without a physical POS terminal. This technology enables small entrepreneurs to respond quickly to the changing needs of customers who want contactless payment, easily and securely. “

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Ever since Visa announced its commitment to help more than eight million small businesses in Europe on the path to their digital transformation, Visa has joined forces with banks, governments, commercial platforms and partners developing advanced technologies. The key highlights are:

  • Public-private partnerships: Visa in the Czech Republic, Slovakia and Poland is working with governments to provide access to contactless terminals for small businesses as well as free software for the first 12 months. Governments in 29 countries have responded by raising the limit on contactless payments, allowing consumers to make contactless payments.
  • New reception technology: The new Height ‘Tap-to-Phone’ technology, which transforms mobile devices into payment terminals, is already helping many small businesses to accept digital payments in Italy, Romania, Ukraine, Turkey, the UK and Poland. For example, in Turkey, technology is helping a new model of food delivery and allowing the consumer to order from more than a thousand restaurants and pay for delivery.
  • New online tools: Starting an online business can bring many worries. Visa works with many online platforms and digital markets, allowing small businesses to have a minimal cost and little effort in terms of their online presence. These programs have already been presented in 15 European countries and are promoted by local businesses. Visa has also expanded its digital global platform Practical Business Skills platforms, which provides free education to small and micro business owners.
  • New banking tools: Small businesses are also in demand for digital banking tools to successfully manage their finances in difficult times. In collaboration with banks and fintechs, Visa offers 30 new business card programs that help small businesses better control cash outflows and purchases while enjoying the benefits of innovative, new banking tools.
  • Cooperation with the community: Visa has expanded the initiative “It matters where you shop” and urged consumers to buy local products and support small businesses in their community. Examples are Champion Green (Ireland), Smart SME (Turkey), Fiver Fest (UK) and Kaufnebenan week (Germany).

A positive start, but there is still a lot of work ahead of us

As many European countries have entered 2021 with further constraints, Visa calls on partners to support the Small Business Support Initiative with a view to digitizing millions of small businesses in this crucial recovery period.

For more information visit

[1] Visa European SME Research (December 2020)

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