Mastercard Advances B2B Payments with New Supply Chain Finance Offering, Empowering More Businesses to Secure Working Capital They Need to Grow
* Mastercard Track™ Business Payment Service and new partnership with Demica enables easier access to flexible working capital for buyers and suppliers
* New offering supports Mastercard’s expansion of its Track BPS network around the world with new partnerships solidified in North America, Middle East & Africa, Europe, Asia Pacific, and Latin America
Mastercard today announced a new supply chain finance capability within Track Business Payment Service (Track BPS) – designed to increase access to working capital while lowering costs, reducing complexity and risk, and accelerating automation when businesses pay and get paid.
Launched in partnership with Demica, a leading 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.
A lack of scalable solutions in the market has put supply chain financing out of reach for many businesses. As a result, only the largest suppliers can access working capital solutions, while trillions of dollars are tied up in accounts receivable each year.
Mastercard’s solution unlocks a network for working capital - covering small businesses and global corporations alike, driving speed to market, and offering ease of integration for payment partners. Demica brings a global, flexible, 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.