SAP Fioneer partners Mastercard for embedded payments offering
By Gloria Methri
SAP Fioneer, a global provider of financial services software solutions and platforms, has partnered with Mastercard to help enable its financial services customers worldwide to deliver embedded payments and lending as part of their business and commercial banking proposition.
Commercial payments remain largely fragmented, with disconnected systems and processes creating a barrier between the purchasing of goods and services and the financial services that underpin business-to-business transactions.
To address this SAP Fioneer and Mastercard are combining their respective capabilities and reach to explore opportunities to help banks and FinTechs deliver an embedded payment and lending experience for their customers that meets the increased demand for convenience, speed to market, and agility.
Commenting on the collaboration Dirk Kruse, CEO of SAP Fioneer stated, “We are delighted to partner with Mastercard to jointly address a burning need for a better, more streamlined approach to embedding financial services into payment processes. Combining best-of-breed technology and services from two market leaders will deliver powerful solutions that address significant pain points experienced by the industry in the payments arena.”
Integrating Mastercard’s suite of commercial payment and open banking capabilities into the SAP Fioneer Card Management, Embedded Finance, and SME Lending platforms can help banks accelerate their ability to support evolving client needs for business-to-business (B2B) payments, as well as lending and financing for small and medium enterprises and consumers.
Rebecca Meeker, senior vice president of global B2B partnerships, at Mastercard, said, “For too long fragmentation has posed a barrier to international trade and commerce. By embedding secure payment and lending capabilities into the platforms where the commercial activity takes place, with partners like SAP Fioneer, Mastercard is advancing a consumer-grade experience for B2B payments and transforming how companies pay and get paid.”
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