Today MasterCard announces its Payment Gateway enabling businesses to pay their suppliers with either Purchase Card or ACH transactions and deliver remittance data. Unlike rival B2B services launched this year by AmEx and JPMorgan Chase, MasterCard is targeting small and mid-sized companies as well as large corporates, and it is selling the product through financial institutions that have the option of customizing the service to meet the needs of their business customers. Wells Fargo is piloting the new service under its own brand name and MasterCard is currently using it with its own suppliers. The Payment Gateway interfaces with ERP packages from Oracle and SAP.
Buyer Benefits
Improves Bottom Line.
Through one simple, efficient payment interface, payments are processed faster, enabling you to take advantage of significant discounts and freeing resources for other revenue-generating activities, enabling you to optimize working capital.Reduces Costs.
The MasterCard Payment Gateway reduces paper check processing errors and expenses.Leverages Existing Technology Investment.
Enhance control, tracking and security with no new technology investment. The MasterCard Payment Gateway integrates easily with your existing infrastructure, leveraging existing controls in your A/P process such as 3-way match. Additionally, payment is always buyer-approved and buyer-initiated.Supplier Benefits
Shrinks Costs. Grows Profits.
The MasterCard Payment Gateway isn’t only a tool for your customers, it can also help you improve your bottom line. It can help to grow profits by optimizing working capital (reducing Day Sales Outstanding), reducing chargeback and fraud risk, and operational costs associated with paper check processing.
Go Faster Easier Than Ever.
The MasterCard Payment Gateway processes payments automatically. No more manual, paper-based processing. And reconciliations are much faster with the enhanced remittance data provided by the Gateway.Build Your Business.
When you enroll, you’ll be included in a B-to-B Supplier Directory that puts you right at the fingertips of new and current customers. The directory is super easy for them to use. Fortunately, we’ve made enrolling just as easy for you.
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