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Mastercard and Fundbot are partnering to create a platform designed to enhance B2B payments across various sectors, including international transactions.
Mastercard, a prominent player in payment solutions, and Fundbot, a FinTech firm based in the UAE that focuses on supply chain financing, have united to optimize B2B payment processes across different industries. The two companies aim to introduce a payment platform that will facilitate and enhance financial interactions between buyers and suppliers.
This cutting-edge payment solution is set to debut in the UAE and Saudi Arabia, with aspirations to expand into additional countries. Its main emphasis will be on the prompt settlement of healthcare claims and expedited payment processing.
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Looking ahead, the project team plans to incorporate Fundbot’s dynamic discount feature into the platform, which will:
- speed up cash conversion for suppliers’ receivables;
- minimize days sales outstanding (DSO);
- streamline overall B2B payment procedures.
Furthermore, Fundbot’s offering is fully compatible with leading enterprise resource planning (ERP) systems, facilitating seamless adoption for businesses of varying sizes. It also provides the option to implement dynamic discounts and includes an AI tool that suggests the most advantageous discount rate for each transaction based on prevailing trends in specific countries and industries, thereby enhancing conversion rates.
Previously, Mastercard and JPMorgan collaborated to enhance the effectiveness of cross-border B2B payments through the integration of Multi-Token Network (MTN) and Kinexys Digital Payments. Additionally, the Mastercard Wholesale Program (MWP) has recently introduced a new solution aimed at boosting the efficiency and security of B2B payments for travel services.
Сообщение Mastercard to Streamline B2B Payments in UAE and Saudi Arabia появились сначала на CoinsPaid Media.
