Mastercard announces new supply chain finance offering

Thursday 21 October 2021 13:26 CET | News

Mastercard has announced a new supply chain finance capability within Track Business Payment Service (Track BPS).

Launched in partnership with Demica, a global provider of supply chain finance technology, this new offering empowers Mastercard partners to provide their business customers with access to affordable working capital. Mastercard Track, an open-loop network, can now connect providers of B2B payments and their respective buyer and supplier customers to working capital.

Mastercard’s solution unlocks a network for working capital - covering small businesses and global corporations alike, offering ease of integration for payment partners. Demica brings a global, multi-product financing platform and expansive network of banks and other funders at scale. Payment partners and their customers can benefit from Demica’s capabilities ranging from advisory services, supplier onboarding, and a white-labelled deployment process.

This solution enables payment partners to extend the reach of buyer programs to more of their supply chain partners, strengthening supplier relationships. Suppliers gain access to early payments and enjoy enhanced user experiences, such as one-time enrollment, standard agreements, and easy implementation leveraging their partner connections.

Mastercard is integrating its Track Business Payment Service network and its blockchain-based Mastercard Provenance Solution in supply chains across industries. Buyers and suppliers will see improved visibility, traceability, and procure-to-pay cycle times. As a result, payment partners can use this data to reduce risk, decrease reconciliation costs, and help further advance early payments in the accounts payable and receivable processes. The offering will provide access and support to a new suite of APIs to power each step of the commercial payments journey.

This new supply chain finance offering is available on Account-to-Account (A2A) rails in the US with plans for global expansion throughout 2022 as Mastercard continues to onboard partners in this space through its focused approach to global trade.


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Keywords: supply chain finance, account-to-account payment, B2B payments
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech