Mastercard has recently enhanced its B2B payment automation globally through the introduction of Mastercard Receivables Manager and Commercial Direct Payments.
Global Reach of Mastercard Receivables Manager
Initially launched two years ago, Mastercard Receivables Manager now offers multi-language support and secure card-on-file features to optimise global digital commerce. This solution is now available worldwide, enabling acquiring partners to modernise supplier virtual card acceptance experiences across key card networks and enhancing buyer-supplier relationships.
Introduction of Commercial Direct Payments
To increase flexibility for payment service providers, Mastercard has introduced Commercial Direct Payments, a network-agnostic processing solution designed to automate virtual card payments and reconciliation.
In this new system, when a buyer initiates a card payment, it is processed directly with the supplier’s acquirer, removing all manual steps in the payment process. This results in automated depositing of funds into the supplier’s account and optimal integration of detailed remittance data into the AR workflow.
- Automated reconciliation for suppliers: By using remittance data that flows directly into their ERP systems, suppliers can focus on more strategic tasks.
- Scalable automated B2B payment processing: Issuers and acquirers can gain straight-through processing benefits quickly and efficiently without multiple costly connections. Commercial Direct Payments simplifies this process with a single connection to Mastercard.
- Better buyer-supplier relationships: Buyers can choose between physical or virtual cards for improved cash flow, while suppliers benefit from secure and timely payments.
Commercial Direct Payments is currently available in the US, with Sakon among its first launch customers.
