Mastercard Incorporated (NYSE: MA) has launched a new supply chain finance capability within Track Business Payment Service (Track BPS). The new capability is designed to increase access to working capital while cutting costs, decreasing complexity and risk, and speeding up automation when businesses pay and get paid.
Mastercard has unveiled the new offering in collaboration with Demica. This new offering enables Mastercard partners to offer their business customers access to cheap working capital. Mastercard Track, an open-loop network, can now link providers of B2B payments as well as their respective buyer and supplier customers to working capital.
Furthermore, Mastercard doubles its commitment to empowering every business to get the working capital they need to prosper by unveiling this first of its kind, embedded working capital capability in Mastercard’s Track Business Payment Service multi-rail platform. This solution allows payment partners to expand the reach of buyer programs to more of their supply chain partners. It will reinforce supplier relationships.
Mastercard is incorporating its Track Business Payment Service network and its blockchain-based Mastercard Provenance Solution in supply chains across industries. Buyers and suppliers will see enhanced visibility, ability to track, and obtain-to-pay cycle times. The offering will deliver access and assistance to a new suite of APIs to power each step of the commercial payments journey.