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.
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.
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