Mastercard Introduces a Fast, Safe and Cost-Effective Solution for Businesses to Accept Virtual Card Payments
Summary
The innovation complements Mastercard’s virtual card platform as the company provides choice in payments to players across the ecosystem and accelerates the digitization of B2B transactions across buyers and suppliers. Suppliers will no longer need to manually capture and enter virtual card details to reconcile the vast number of digital payments received. “This is a significant milestone in our journey to deliver more seamless, digital-first user experiences to the B2B payments ecosystem,” said Chad Wallace, global head of Commercial Solutions at Mastercard. “We’re bridging the gap between buyers’ virtual card preferences and suppliers’ acceptance challenges by automating manual processes and transforming the way accounts receivable teams operate.” Mastercard has partnered with Billtrust, a B2B order-to-cash software and digital payments market leader, to deliver its latest commercial solution. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential.