Mastercard has optimised B2B payment automation globally with the introduction of Mastercard Receivable Manager and Commercial Direct Payments.
Mastercard is expanding the global reach of Mastercard Receivables Manager, its automated solution designed to make virtual cards more efficient, secure, and cost-effective for businesses.
To provide payment service providers with more flexibility in offering B2B payment features, Mastercard is also introducing Commercial Direct Payments, an augmented processing solution that automates virtual card payments and reconciliation.
The expanded offerings aim to deliver an optimal B2B payment experience for both buyers and suppliers at a time when digitalisation of commercial payments is becoming increasingly mandatory.
Global expansion of Mastercard Receivables Manager
Launched two years ago, Mastercard Receivables Manager has introduced features such as multi-language support and secure card-on-file to optimise digital commerce globally. Now, this feature is available worldwide, allowing acquiring partners to modernise supplier virtual card acceptance experiences across key card networks and help customers strengthen buyer-supplier relationships.
Payment providers such as Elavon and Run Payments in the US are offering Mastercard Receivables Manager to address manual processing and reconciliation challenges. EazyPay is also among the first acquiring partners in the Middle East to provide a solution to transform accounts receivable workflows for their customers in Bahrain.
Taking the manual out of Commercial Direct Payments
Commercial Direct Payments is a new card network-agnostic solution that optimises receivable automation for suppliers and augments digital payment opportunities for buyers looking to pay by card.
When a buyer initiates a card payment, Commercial Direct Payments enables it to be processed directly with the supplier’s acquirer, eliminating all manual steps for making and receiving payments. The funds are automatically deposited into the supplier’s account, and the detailed remittance data can be optimally integrated into the AR workflow.
Key benefits include:
- Driving supplier efficiency with automated reconciliation – suppliers can reconcile payments using the remittance data that can flow directly into their ERP systems, allowing them to focus on more strategic tasks;
- Unlocking automated B2B payment processing at scale – issuers and acquirers can quickly access the benefits of straight-through processing without the need for multiple costly and time-intensive connections. Commercial Direct Payments optimises this process by providing a single connection to Mastercard and enabling the flow of secure, standardised payment and remittance data between issuers and acquirers;
- Strengthening buyer-supplier relationship – buyers can choose to pay with physical or virtual cards to improve cash flow, while suppliers can benefit from secure, efficient, and on-time payments.
Commercial Direct Payments is a global product initially available in the US, with Sakon among the first launch customers.
