Traxpay, MasterCard partner to take supply chain finance global

Wednesday 24 September 2014 08:59 CET | News

Traxpay, a business-to-business (B2B) payment provider, has partnered with MasterCard to use the payment company’s global network for connecting buyers and suppliers.

Traxpay combines information about invoices with the payments and supports supply chain financing, factoring and dynamic discounting to provide or preserve working capital.

B2B payments often need adjustments such as discounts for early payment or reduction for missing or incomplete deliveries. Traxpay estimated that 25 to 30% of invoices require special handling. Its patent-pending Dynamic Payments platform combines electronic financial transactions with all data related to the transaction, both structured or unstructured. Traxpay’s integration-ready configurable workflow engine dynamically monitors any changes in the who, what, when, where, why, or how of a transaction, while keeping all related data, business logic, and the payment itself synchronized between all parties.

Other electronic invoicing companies, including Basware and Ariba, are combining electronic invoice processing with payments, Basware through its alliance with MasterCard and AribaPay using the Discover network.

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Keywords: Traxpay, MasterCard, supply chain finance, business-to-business, B2B, buyers, suppliers, payment, factoring, dynamic discounting, working capital
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech

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