Mastercard Track to modernize $125 trillion global B2B payments market
Mastercard unveiled its plans to modernize the business-to-business (B2B) payment ecosystem with Mastercard Track. The Track brand of products represents solutions that help to reduce complexity, cut costs and automate processes, the company says.
Mastercard launched Track in 2018 as a trade platform to address identity, compliance and payment management needs. As a secure, permissioned repository of more than 210 million registered entities worldwide, the trade directory is a central component to the expanded suite of products and services. Mastercard says Track will now encompass all current and future B2B payment products – a collection of tools and services to simplify the way businesses pay and get paid.