Mastercard will integrate working capital into its Track Business Payments package through a partnership with supply chain finance specialist Demica.
Through this partnership, Mastercard brings supply chain financing to small businesses by connecting B2B payment providers and their respective buying and supplier customers to working capital.
Demica brings to the partnership a global multi-product financing platform and an extensive network of banks and other large-scale lenders. Payment partners and their customers can choose from Demica’s capabilities ranging from consulting services to vendor onboarding and the white label deployment process.
Craig Vosburg, Chief Product Officer at Mastercard, says, “The disparate systems and processes in today’s B2B ecosystem continue to complicate cash flow management, increase operating costs and hamper business growth. business. Our new offering and partnership with Demica help address these issues by enabling buyers and suppliers to unlock their working capital and deploy it to grow their businesses, enabling choice and scale and accelerating financial inclusion.
The new supply chain finance offering is available on Account-to-Account (A2A) rails in the United States with plans for global expansion throughout 2022.