Right this moment, Mastercard introduced the launch of Mastercard Receivables Supervisor, a brand new, automated answer that streamlines the way in which companies settle for and course of digital card funds.
The innovation enhances Mastercard’s digital card platform as the corporate gives selection in funds to gamers throughout the ecosystem and accelerates the digitization of B2B transactions throughout patrons and suppliers.
Mastercard Receivables Supervisor was developed to make digital card transactions extra environment friendly, safe and cost-effective to course of. Suppliers will not have to manually seize and enter digital card particulars to reconcile the huge variety of digital funds acquired. As an alternative, the brand new product consolidates these card funds from all issuers so the remittance information can routinely be matched to open invoices, and formatted and delivered for his or her Enterprise Useful resource Planning (ERP) methods – making it simpler for suppliers to reconcile invoices with effectivity and accuracy.
This additionally provides suppliers new benefits, together with the power to drive early funds and enhance total visibility of their money stream.
“It is a vital milestone in our journey to ship extra seamless, digital-first consumer experiences to the B2B funds ecosystem,” stated Chad Wallace, international head of Business Options at Mastercard. “We’re bridging the hole between patrons’ digital card preferences and suppliers’ acceptance challenges by automating handbook processes and remodeling the way in which accounts receivable groups function.”
Mastercard has partnered with Billtrust, a B2B order-to-cash software program and digital funds market chief, to ship its newest industrial answer. Requiring minimal implementation effort, Mastercard Receivables Supervisor allows acquirers to shortly get-to-market and empowers suppliers to obtain digital card funds with simplicity and ease, thereby optimizing acceptance at scale and rising card spend alternative for companies.
Mastercard Receivables Supervisor is a worldwide product innovation that’s at present obtainable for U.S.-based prospects, with availability increasing to a number of different markets starting later this yr.