Speedchain and Mastercard partner to modernise commercial debit and credit payments
By Edlyn Cardoza
Speedchain Inc., a FinTech focused on revolutionising business-to-business commerce via its connected data platform, announced a multifaceted partnership with Mastercard.
“Speedchain is dedicated to bringing transaction experiences to our members that are more secure, flexible and data driven. This partnership helps enhance our ability to deliver on that promise at scale. This collaboration is also about people, and we are very excited to work with an expert team at Mastercard that share our passion for delivering excellent and innovative products,” said Speedchain’s CEO, Daniel Cage.
Leveraging Mastercard’s network and innovative payments technology, Speedchain member organisations of all sizes can experience modernised ways to pay by connecting virtual purchasing cards to the platform and leveraging Mastercard rails for vendor payments. Speedchain members can now connect Mastercard virtual cards to the Speedchain B2B SuperApp, designed to offer improved payment security, enriched data, and enhanced user experience for vendors through its reporting, cash management and threat detection capabilities.
Speedchain helps public and private sector enterprises pay in real-time, detect and prevent fraud, and manage efficiencies for a streamlined payment process. This partnership with Mastercard is a part of Speedchain’s journey to accelerate and add capacity to its platform, which has distributed over $1.6 Billion in corporate and government sector transactions since 2021.
“Mastercard is committed to modernising payments around the world – and we’re doing that today with partners like Speedchain by reinventing how businesses send and receive payments,” said Marie Elizabeth Aloisi, executive vice president, Commercial Solutions at Mastercard. “Pairing Speedchain’s data-rich platform with Mastercard’s multi-rail capabilities, we are unlocking new opportunities for public and private sector companies large and small.”
IBS Intelligence recently reported that Buy2Sell, an e-commerce platform in Asia, announced a new strategic partnership with Mastercard. The announcement is the result of a longstanding relationship where Buy2Sell will enable multiple payment types to a variety of delivery channels via a single connection through Mastercard Cross-Border Services.
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