Besides Mastercard, among the signing partners, we name Caisse de dépôt et placement du Québec (CDPQ), Temasek and Peter Thiel. Both companies forged this partnership to leverage AvidXchange’s expertise in AP and payment automation and Mastercard’s commercial payment solutions aiming to further penetrate the middle market.
Furthermore, AvidXchange, a fintech provider of accounts payable and payment automation for midsize companies, will serve as the execution partner for Mastercard’s launch of the Mastercard B2B Hub in the US. Later in 2017, the hub will be made available to companies through their bank or commercial card issuer. The fintech will offer banks who choose not to utilize their own card payment capabilities with The Mastercard B2B Hub program options through its existing relationships with Comdata and KeyBank.
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