Over 10,000 Filipino micro and small businesses are gaining access to digital financial services through a partnership between Boost Capital and Mastercard.

Launched under the Mastercard Strive initiative, the program has onboarded 15 financial service providers, including Asialink, Paymongo, UNO Digital Bank, RAFI Microfinance, and Cantilan Bank.

Boost’s technology enables these providers to expand their reach, allowing small businesses to apply for loans and process payments via Facebook Messenger and Viber.

The initiative surpassed its initial goal five times over, reflecting strong demand for accessible financial tools among micro and small enterprises, which make up 99% of businesses and 63% of the workforce in the Philippines.

With Mastercard Strive’s support, Boost has enhanced its AI technology to offer advanced dialect recognition and document validation, streamlining the onboarding process for small business owners, particularly women entrepreneurs.