On June 27, the world celebrated MSME Day, a timely reminder of the vital role micro, small and medium-sized enterprises play in economies everywhere, especially here in Jamaica. MSMEs make up over 90 per cent of our business landscape, generate thousands of jobs and form the backbone of communities across the island.

From the cook shop owner in May Pen to the digital entrepreneur building a brand from their living room, MSMEs reflect the drive, creativity and resilience that power Jamaica forward. Yet, despite their importance, many still face significant challenges in scaling, competing and fully participating in the formal economy.

One of the most transformative opportunities for MSMEs today lies in digital enablement, particularly through embracing digital payments.

Many small businesses continue to rely heavily on cash, operate informally and struggle to access credit, maintain financial records or reach broader markets. These barriers limit growth and leave MSMEs vulnerable, especially in uncertain economic times.

At Mastercard, we believe that access to the digital economy is essential not only for the success of small businesses but for inclusive growth nationwide. That is why we are committed to helping Jamaican MSMEs thrive through simple, secure and affordable digital solutions. Whether it is a vendor accepting tap-to-pay transactions at a market or a service provider sharing a payment link online, these tools are transforming how business is done.

Here in Jamaica, we are actively putting this into practice. In December 2024, we launched a Tap-on-Phone pilot with over 600 micro-merchants in Montego Bay, enabling secure contactless payments using just a smartphone. Then, in February 2025, we signed a memorandum of understanding (MoU) with the St James Municipal Corporation to promote MSME digitalisation through expanded access, training and infrastructure.

Through partnerships like these, we are helping entrepreneurs digitise, operate more efficiently and access the financial services they need to succeed. Education is also critical, and Mastercard continues to invest in outreach and resources that help small business owners navigate digital tools, protect themselves from fraud and build a strong foundation for the future.

Digital inclusion cannot happen in isolation. It requires collaboration across the private sector, government and development partners to ensure every entrepreneur, regardless of size, background or location, can grow.

As we reflect on MSME Day, let us also look ahead. Supporting small businesses cannot be limited to one day each year; it must be ongoing, intentional and inclusive.

Because when MSMEs thrive, so does Jamaica.

Dalton Fowles is country manager Jamaica, Trinidad & Tobago, Barbados and the Easter Caribbean at Mastercard.