Following this announcement, the new solution will be used in order to provide businesses with additional working capital management advantages and benefits, such as the ability to maximise cash flow and minimise payment uncertainty. Enterprises and corporates will also be enabled to streamline previously payment-related tasks in a more efficient and affordable way, following Taulia Virtual Cards’ integration across SAP ERP solutions. These include the SAP S/4HANA and other major enterprise resource planning platforms (ERP platforms).
Taulia’s customers and clients will benefit through their existing issuer relationships while being given the possibility to deploy virtual cards and extend the current benefits offered by their own banks through Taulia. Furthermore, the partnership will enable Taulia to expand its working capital services for business by using virtual cards generated through Mastercard upon request. This is expected to provide significant time and cost savings to corporations that seek more customer-grade user experiences in their business platforms.
Enterprises will have the capability to use improved spend control and more options to pay suppliers efficiently through the tightly integrated virtual card experience. At the same time, suppliers will gain optimised cash flow and overall visibility, aiming to alleviate friction across B2B transactions.
Global payment-processing corporation, Mastercard offers its clients a secure range of remittance-related products, which were developed in order to provide payments and transactions through its global network. This is expected to deliver an improved experience to bank accounts, mobile wallets, digital wallets, cash, and cards in multiple sectors across the globe. Mastercard had several partnerships and product launches in the last couple of months, covering different geographic regions around the world.
In November 2023, US-based Feedzai announced its collaboration with Mastercard in order to expand crypto fraud protection for clients worldwide. Throughout this strategic deal, Feedzai was set to leverage Mastercard’s Ciphertrace crypto intelligence solutions to reduce the risk of account-to-account (A2A) fraud that was flowing into the crypto exchanges system at the time of the press release.
The tool was expected to be incorporated into Feedzai’s RiskOps platform, a feature that was designed in order to analyse transaction data, as well as to offer a comprehensive suite of AI-based solutions that could be used to stop fraud and other financial crimes at their source. This was set to give banks, customers, and businesses the possibility to be alerted when a transaction appeared fraudulent in a more efficient way.
Earlier in the same month, Mastercard Singapore announced its collaboration with FOMO Pay in order to introduce the Mastercard QR within SGQR and to allow cardholders to scan and pay while leveraging their Mastercard accounts. According to the press release published at the time, FOMO Pay was set to enable SGQR merchants and traders to accept Mastercard QR payments, as well as to allow the use of Mastercard credit and debit cards for scan-and-pay at SGQR codes.
Only certified mobile applications that were enrolled in the program were able to initiate payments, which aimed to provide an extra layer of security for both banks and cardholders.
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