Mastercard has launched two small business programs to meet the growing demands of the creator economy.  

The global creator market, made up of individuals with their own brands and audiences on social media, is projected to reach $1 trillion by 2034, up from $148.4 billion in 2024, growing at a CAGR of 21.8%, according to market research company Market.US. The U.S. creator market is projected to reach $123 billion by 2029, up from $50.9 billion in 2024. 

“As the creator economy grows, it’s vital to provide this new wave of entrepreneurs with support to help them build sustainable businesses and navigate the road ahead,” Seema Chibber, executive vice president for core payments at Mastercard North America, told Bank Automation News.

According to a 2023 Mastercard study, 73% of Gen Z and millennials prefer roles as creators or entrepreneurs over traditional corporate paths. However, financial challenges create barriers in their paths, Chibber said. 

To help young entrepreneurs, Mastercard offers actionable insights, AI-driven mentorship and cybersecurity services through its Mastercard Small Business Navigator, launched in May, and Mastercard Business Builder, launched in February. 

Mastercard Small Business Navigator “offers access to personalized data, cybersecurity resources, financial planning tools and mentorship — all designed to simplify operations and reduce barriers to entry,” Chibber said.  

Mastercard Business Builder helps entrepreneurs set up legal entities, manage finances and find the right partners, she said. 

“With Gen Z in the driver’s seat as both ‘solopreneurs’ and as a critical consumer spending demographic, it’s about equipping, education and providing personalized support to empower them so they can thrive in today’s digital economy,” Chibber said.  

Better.com, digital bank Oxygen and pension funds management service provider Jarvis are also expanding their offerings to cater to young entrepreneurs as the creator economy continues to grow.

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