June 27, 2024 | Tashkent, Uzbekistan – Today, the Mastercard Center for Inclusive Growth announces a new philanthropic initiative in collaboration with fintech startup MayaSoft under Mastercard Strive. Global nonprofit Accion and Caribou Digital will deliver the new program which aims to equip 12,000 small businesses in Uzbekistan with an innovative point of sale (POS) solution that will digitize their sales, support their access to capital, and provide transaction and inventory data to inform decision-making and support their growth.

Mastercard Strive is a global portfolio of philanthropic programs – supported by Mastercard’s philanthropic arm, the Center for Inclusive Growth – which empowers small businesses around the world to thrive in the digital economy. With programs in place across the globe, Strive supports more than 10 million small businesses around the world by unlocking access to capital, markets, and digital solutions, as well as helping to build their capacity through training and mentoring.

As 800,000 people under 29 years of age enter the Uzbek labor market each year, the country is now prioritizing job creation and small business growth. Its new initiatives to digitize retail trade have created a need for POS solutions, yet there are few affordable options for small businesses. Through this new partnership, MayaSoft seeks to fill this gap with their MARTA solution, which offers small businesses comprehensive, digital POS services and wider digital business management tools without extra subscription fees or hardware costs.

Critically, the MARTA solution will also provide immediate access to proceeds from digital payments made through the POS, shortcutting a process that currently takes several days. The solution incorporates an instant merchant settlement that advances the payment amount to the retailer before the clearing process between banks is complete. This innovation helps increase digital payment acceptance, while enabling small businesses to improve their working capital and growth opportunities.  

“Through collaboration with local organizations like MayaSoft, we’re making technology and access to finance affordable for small businesses wherever they are. As we drive digital transformation and financial inclusion, it is crucial to ensure no small business is left behind. Supporting digital payment acceptance and data-first solutions that address the unique needs of small businesses in Uzbekistan will bolster their resilience and financial health in an increasingly digital economy,” said Payal Dalal, Executive Vice President of the Mastercard Center for Inclusive Growth.

“At Accion, we work with local partners to develop and scale responsible digital financial solutions for underserved people globally. In Uzbekistan, we are working with MayaSoft to strengthen their MARTA solution, creating a pipeline to connect small business owners with affordable digital solutions,” as Victora White, Managing Director of Accion Advisory explains.

Empowering growth while bridging market gaps

The program will also lay the groundwork for digital tools that small merchants could use to unlock access to credit. Improved data collection and analysis will set the stage for MayaSoft to partner with local financial institutions that provide small businesses with access to microloans.

“We’re glad to partner with the Mastercard Center for Inclusive Growth and Accion to promote the MARTA solution to 500,000 small businesses that are eager to digitize and grow their sales across Uzbekistan, particularly those in remote areas with limited access to advanced technologies. Micro and small merchants, and even self-employed individuals, can access the solution free of charge through their smartphones, even where internet connectivity is poor,” said Nodir Badriddinov, Founder and CEO of MayaSoft.

The onboarding process is fully digital and can be completed in just one day. Once onboarded, small businesses can process card payments and digitize their sales operations, including integration with the taxation system.

“With hundreds of thousands of small businesses in Uzbekistan, the new program creates a significant opportunity to accelerate POS digitalization and bolster the entire retail landscape. This is especially important in Uzbekistan’s rural areas, where small businesses have limited access to finance and make less use of digital tools compared to their urban counterparts,” said Denis Filippov, Country Manager for Uzbekistan and Belarus, Mastercard.


Background: The small business landscape in Uzbekistan

Uzbekistan stands out as the most densely populated nation in Central Asia, with half of the population residing in rural areas. With an influx of 800,000 individuals below the age of 29 entering the labor market annually, job creation has become one of the economy’s top priorities. Unemployment and other socioeconomic issues have prompted the government  to provide further support to entrepreneurs and small businesses, being the driving force for economic growth, job creation, improved livelihoods, and poverty alleviation [1].


About MayaSoft

MayaSoft, a startup headquartered in Uzbekistan, operates as a licensed Payment Organization regulated by the Central Bank. Specializing in fintech solutions, the company is dedicated to the development, integration, and implementation of cutting-edge contactless payment technologies. Its primary objective is to bolster the payment acceptance infrastructure for small and medium-sized businesses while actively promoting the adoption of cashless payments among cardholders. With a clear mission to serve unbanked and underserved small merchants, MayaSoft offers secure and user-friendly mobile IT solutions. The overarching goal is to empower businesses to seamlessly accept fast and secure payments in any setting. Follow MayaSoft on Linkedin.

About Accion

Accion is a global nonprofit on a mission to create a fair and inclusive economy for the nearly two billion people who are failed by the global financial system. We develop and scale responsible digital financial solutions for small business owners, smallholder farmers, and women, so they can make informed decisions and improve their lives. Through targeted investment strategies, advisory solutions, and expert thought leadership, we work with local partners to develop and scale cheaper, more accessible, and customer-friendly financial solutions. Since 1961, Accion has helped build more than 230 financial service providers serving low-income clients in 75 countries, reaching more than 350 million people. More at www.accion.org

About Caribou Digital

Caribou Digital delivers fund management, learning partnerships, and research, advisory, and measurement services, supporting organizations worldwide to build more inclusive and ethical digital economies. Follow on LinkedIn.

About the Mastercard Center for Inclusive Growth 

The Mastercard Center for Inclusive Growth advances equitable and sustainable economic growth and financial inclusion around the world. The Center leverages the company’s core assets and competencies, including data insights, expertise, and technology, while administering the philanthropic Mastercard Impact Fund, to produce independent research, scale global programs, and empower a community of thinkers, leaders, and doers on the front lines of inclusive growth. For more information and to receive its latest insights, follow the Center on LinkedIn, Instagram and subscribe to its newsletter. 

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Thessa Mooij 


Director of Public Relations