back Back

Mastercard partners with HSBC UAE to announce B2B payment system

By Leandra Monteiro

April 19, 2021

  • Mastercard
  • UAE
Share

Mastercard, HSBC UAE, B2B payment, Middle East, Mastercard Track™ Business Payment Service, PakistanMastercard continues to deliver results in terms of modernization of business payments globally and across the Middle East and Africa region. With that in mind, the technology company has recently announced a new partnership with HSBC that will provide the bank’s commercial customers in the UAE with an improved business-to-business payment experience via the Mastercard Track™ Business Payment Service.

This new collaboration will result in the launch of Mastercard Track™ Business Payment Service in the UAE. With partnerships across all regions around the world, Mastercard Track Business Payment Service helps companies simplify and optimise how they pay and get paid through a global open-loop network. Businesses have greater control of their payments with rich data exchanges and the ability to automate payments across multiple payment rails. Among the benefits for businesses are the ability to scale, improved security and control, cash flow efficiency and digitisation of existing manual processes.

“The launch of Mastercard Track Business Payment Service is a game-changer for the Middle East and Africa region. We are seeing a structural need to digitize and automate B2B payments across all our markets, accelerated by the global pandemic, and Mastercard Track allows us to fully take advantage of this opportunity. We are thrilled to have partnered with HSBC to further deliver on modernizing the business payment ecosystem by delivering a better payment reconciliation experience for HSBC business customers in the UAE,” said Girish Nanda, Country Manager, UAE & Pakistan, Mastercard

In November 2020, Mastercard announced the addition of global Card payment capabilities to Track Business Payment Service and Account-to-Account functionality in the United States, with plans to scale globally.

Previous Article

April 19, 2021

Hi55 Ventures partners with Mastercard to roll out salary access card

Read More
Next Article

April 19, 2021

3 WealthTech companies transforming the European financial market

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

Mastercard

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

PPRO and Afterpay team to bring BNPL solution to US consumers

Read More

Today

Boodil launches innovative Travel Payments Platform

Read More

Today

heymax & Visa team to simplify Credit Card rewards experience

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023