Mastercard Pledges $250 Million for Small Business Support

Pitching in to help with the economic after-effects of the still-spreading SARS-CoV-2 coronavirus pandemic, Mastercard (NYSE: MA) announced a new initiative to help small businesses. The payment card giant said it is committing $250 million to help fund efforts supporting such enterprises, many of which are struggling in the face of the coronavirus and will likely continue to do so.

Much of this assistance will take the form of Mastercard providing resources and direct support. The company will offer cyber vulnerability assessments, in addition to providing its identity theft protection services. Both will be free of charge to qualifying businesses for three months.

These businesses will also be able access to the company's Local Market Intelligence analysis tool.

Source Fool.com