Express Computer
Home  »  News  »  Mastercard Collaborates with KredX to Make B2B Payments Rewarding for Enterprises and Vendors

Mastercard Collaborates with KredX to Make B2B Payments Rewarding for Enterprises and Vendors

0 80

Mastercard announced its collaboration with KredX, a supply chain finance platform, to make B2B digital payments rewarding for both enterprises and vendors. As part of the collaboration, Mastercard will integrate its commercial card service with the KredX platform, eliminating the complexities associated with B2B payments, especially those made via cards.

Equipped with features like dynamic discounting, early payment, and price discovery, the platform will enable enterprises and vendors to improve their cash flows. Powered by Artificial Intelligence, it will act as a complete procure-to-pay offering for businesses, helping them with faster and more efficient matching and processing of invoices. Further, the Smart Bid algorithm will help enterprises discover the best discount rates from vendors.

“B2B payments are ridden with complexities of diverse invoicing, payment terms, currency variations, and reconciliation procedures. Combining KredX’s proprietary technology with Mastercard’s expertise in commercial payment solutions will create a pioneering B2B payments solution accessible to all businesses, supporting them with better cash flows and access to working capital. This collaboration reiterates Mastercard’s commitment to further digital payment acceptance by providing unique and innovative solutions to businesses,” said Mukul Sukhani, Senior Vice President of business Development, South Asia, Mastercard.

The platform will also address some of the other challenges associated with B2B payments, such as long accounting and reconciliation processes, low vendor acceptance, and frequent chargeback. Further, it will be instrumental in promoting digital payment acceptance by allowing small vendors to receive payments even in the absence of in-house payment gateways and PoS machines.

“We are delighted to collaborate with Mastercard to provide a complete B2B payment solution for businesses. By integrating pre-discounting journeys with post-discounting payments, this platform will enhance companies’ operational efficiency and strengthen their supply chain management capabilities. Accelerating supply chain velocity through financial innovation has been central to KredX’s value proposition,” said Manish Kumar, CEO and founder, KredX.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

LIVE Webinar

Digitize your HR practice with extensions to success factors

Join us for a virtual meeting on how organizations can use these extensions to not just provide a better experience to its’ employees, but also to significantly improve the efficiency of the HR processes
REGISTER NOW 

Stay updated with News, Trending Stories & Conferences with Express Computer
Follow us on Linkedin
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image
Find Solutions to Maintain Productivity
Register Now
close-image
Live Webinar : Improve customer experience with Voice Bots
Register Now
close-image
Live Event: Technology Day- Kerala, E- Governance Champions Awards
Register Now
close-image
Virtual Conference : Learn to Automate complex Business Processes
Register Now
close-image