EedenBull and Mastercard partner to support SMEs in APAC
By Gloria Mathias
Mastercard and Norwegian FinTech company, EedenBull have announced the launch of a card and spend management platform designed to help SMEs process their spending and payments more efficiently.
As an extension of their existing partnership, Mastercard will refer EedenBull’s Q Business platform to its extensive network of customers issuing cards to SMEs in the region. The service will be available to issuers initially in Australia, New Zealand, Singapore, the Philippines, and Malaysia before expanding region-wide.
The partnership highlights that a payments network in the APAC is collaborating with FinTech to support a white-label Expense Management System (EMS) and Card Management System (CMS) solution for SMEs.
Q Business provides a one-stop AI-powered digital platform that gives SMEs full visibility of operational spending across the business. Q Business simplifies expense management and payment handling and gives real-time insight into transaction patterns. This allows SMEs to issue, manage, and oversee cards for their employees via mobile and web, ensuring transparency and control over expenditure and driving improved business operations.
For card issuers, the partnership provides them with a digital card management system designed specifically for SMEs, which will help them add more value to their business banking relationships with their SME customers.
Sandeep Malhotra, Executive Vice President, Asia Pacific, Mastercard, said, “Combining Mastercard’s experience, commercial solutions, and a wide network of customers and partners with EedenBull’s unrivalled expertise in this space will help banks to stay ahead of the curve and deliver added value to their SME customers.”
Nicki Bisgaard, CEO, EedenBull, said, “We are partnering to bring Q Business, our unique AI-powered card and spend management platform, to Mastercard issuers in key Asia Pacific markets. This innovative solution, available through mobile apps and web interfaces, empowers SMEs to efficiently manage payments across their organizations. We look forward to the continued expansion of this partnership to additional regions, further benefiting SMEs worldwide. Together with Mastercard, we are reshaping the payment landscape for small and medium-sized enterprises.”
The extension of the collaboration with EedenBull aligns with Mastercard’s strategy of working with FinTech firms to drive innovation and create opportunities for its partners.
IBSi Daily News Analysis
November 29, 2023
APAC Fintech news
APAC Deepfake incidents surge as global fraud landscape evolvesRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage