Mastercard: Umbrellas of Pride

Mastercard is using umbrellas in Vietnam to encourage women to become entrepreneurs in the country.

The campaign, created by Care Ignite and called “Umbrellas of Pride”, aims to change perceptions of how umbrellas are used to highlight the successes of female entrepreneurs.

Umbrellas were chosen because it is an item every business uses.

This comes after Mastercard Index Women Entrepreneurs of 2019 found 27% of all businesses in Vietnam are owned by women. It found high rates of “fear of failure” among female entrepreneurs in the country, suggesting the existence of potential underlying vulnerabilities that may be preventing progress.

These vulnerabilities have likely worsened because of the impact of the global Covid-19 pandemic, according to Mastercard.

The “Umbrellas of Pride” were gifted to strivers, female business owners in Vietnam that signed up for the Care Ignite program. Through story-filled umbrellas, all women instantly became Ignite ambassadors and helped build a network of support and mentorship.

“The pandemic has set back recent gains made towards women empowerment and there is a high risk of women getting left behind. Mastercard is committed to creating an inclusive world that works for everyone, especially women,” said Winnie Wong, country manager for Vietnam, Laos, and Cambodia at Mastercard.

“Women-owned businesses are the heartbeat of every economy and are critical to boosting recovery efforts in Vietnam. Hence, Mastercard is honored to be part of the Umbrellas of Pride campaign that acknowledges the strength, perseverance, and success of women entrepreneurs – a vital initiative in creating an equal world post-Covid.”