This service makes B2B payments work faster and smarter for businesses
Mastercard has launched its Track Business Payment Service, which enables greater control over transactions. Besides, it provides automated reconciliation for suppliers and application of all payment options approved by them.
Along with that, Mastercard Track allows buyers and suppliers to manage their payments more efficiently. For instance, suppliers can manage how they get paid for different invoices for different buyers. At the same time, buyers can optimize payment with improved reconciliation. It will help to manage cash flow and capture early payment discounts.
The service is managed through a single platform that minimizes the need for a manual and time-consuming interaction between buyers and suppliers.
We’ve reported that Mastercard’s company RiskRecon will help small businesses across Canada protect themselves during the coronacrisis. Since they moved their activities online, Canadian small businesses are currently facing greater exposure to cyber threats.