Here’s How AB InBev Is Helping Small Businesses Fight Back from the Pandemic

It’s fair to say that the COVID-19 crisis really knocked global industry for six. When the pandemic first hit and businesses all around the world were forced to close, the outlook seemed bleak for many smaller operations around the world.

While larger businesses had the resources to weather the storm and ecommerce companies could continue operating at almost full capacity – with many even seeing massive surges in business as customers stuck at home under lockdown restrictions sought products to distract them from the tedium and anxiety – small business was left floundering.

While stimulus checks and other forms of support from government organizations certainly helped, the road back from the COVID-19 pandemic was never going to be simple – especially for those businesses in poorer parts of the world.

AB InBev

To help small business owners in Latin America fight back against the challenges of the coronavirus crisis, international beverage brand, AB InBev knew that enabling these companies to move their transactions online was a big part of the puzzle.

The company behind such household name alcoholic beverages as Budweiser, Beck’s, and Corona, therefore, sprang into action and deployed Z-Tec – its global innovation and technology hub – to make its next generation ecommerce fintech developments available to small businesses in this critical but often struggling part of the world.

Many of these retailers are unbanked and are therefore unable to access fair credit and financial services during a time when being able to make use of these products is of utmost importance. Z-Tech together with other fintech companies such as Konfio, Tienda Pago, and KEO, worked around the clock to extend over $100 million in emergency credit to provide cash flow and working capital to help these businesses sustain and grow their businesses and recover from the economic impact of the pandemic.

"Z-Tech is committed to empowering SMBs through technology and amplifying their access to financial services, such as digital payment accounts and credit, to support their growth and recovery," said CEO of Z-Tech, Francisco Prisco. "More than 100,000 SMBs have already joined our platform and our mission is to continue helping in the digital transformation of these businesses and, together with AB InBev, positively impact our communities through new technology."

Fintech

Z-Tech has been helping businesses move their transactions online with its own proprietary fintech platforms – Donus and SiHay. Donus provides debit cards, credit services, point-of-sale system and credit, and a simple smartphone app to monitor transactions and access funds through a secure digital wallet, while SiHay empowers entrepreneurs to better manage their inventory and digitize their sales.

AB InBev isn’t stopping there either and has Z-Tech working on the development of an exciting and innovative blockchain powered solution for common problems faced by small businesses – in particular, smallholder farmers and recyclers – in the Latin America region.

A lack of record-keeping and digital identity can often make it difficult for these brands to access traditional banking services, but the secure and transparent ledger technology provided by blockchain will make it easier for farmers and recyclers to have more transparency in their pricing and selling products and keep an accurate history of transactions.

"Access to finance is essential to empowering entrepreneurs across our value chain, and technology can be a key enabler in promoting that access," said Global Director for Agricultural Innovation & Sustainability at AB InBev, Katie Hoard. "AB InBev will continue to invest in partnerships and platforms that will contribute to building enduring and prosperous businesses."

AB InBev has been pouring significant investment into digital technology during the pandemic. Customer-centric capabilities, innovation, and digital transformation have all been top of the agenda for the famous beverage brand and is allowing it to build sales and improve interactions with businesses and customers, such as the fintech innovations we’ve seen the company deploy in Latin America, as well as pandemic related direct-to-customer technologies.

"Our direct-to-consumer business involves both end consumers as well as our customers like convenience stores, restaurants, and bars," said Global Vice President, Direct-to-Consumer Technology, France Roy. "We’ve also built digital capabilities to help our own on-trade bars and restaurants outside the US, which gives a touch-free menu experience to our users. Building a direct-to-consumer ecosystem involves optimizing every part of the experience and this ranges from the end consumers’ experience to the customer delivering that to them."

Final Thoughts

Helping small businesses and its customers recover from the pandemic is a massive undertaking but, like all good businesses, AB InBev understands that it needs its entire value chain working at optimum efficiency if it is going to come back fighting from global crises such as that presented by COVID-19.

You can hear AB InBev Vice President for Data & Analytics, Digital Transformation, and Global Media, Luiz Felipe Barros speak at Digital Food and Beverage 2022, being held in July at the Hyatt Regency Austin.

Download the agenda today for more information and insights.