Mastercard & KredX to offer flexible B2B payments to SMEs
By Gloria Mathias
Mastercard has collaborated 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. It is powered by AI and 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,” said Mukul Sukhani, senior vice president of business development, South Asia, Mastercard.
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.
KredX is an India-based supply chain finance platform accelerating finance through the use of cutting-edge technology and data. The company offers a host of customizable solutions ranging from enterprise finance and cash flow management solutions to working capital and channel financing solutions for businesses, large and small, operating within the supply chain ecosystem.
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