Developed with Microsoft, Mastercard Track offers you a unified way to track B2B payments and bolster third-party compliance—across the procure-to-pay process.
Mastercard
BusinessWire
Published on Sep 12, 2018
Unique B2B platform powered by Microsoft Azure better connects buyers and suppliers with networks, banks and solution providers
Mastercard (NYSE:MA) today introduced Mastercard Track™ in collaboration with Microsoft (NASDAQ:MSFT). Track is a unique global trade platform that will simplify and enhance how companies around the world do business with each other.
While parts of the B2B process have been digitized, large and costly gaps still remain – an estimated $500 billion in annual administrative costs and rising1. These costs are added to the inefficiency of the nearly half of all global business transactions – $58 trillion2 – that are still done in paper.
Mastercard Track will address these fundamental challenges by further streamlining and automating the procure-to-pay-process – enabling businesses to manage business identity, compliance and payments in a more efficient way.
“While there have been great improvements and innovations in the way consumers pay, the global B2B space remains highly inefficient and paper-based,” said Michael Froman, vice chairman and president of strategic growth at Mastercard. “This adds hundreds of billions of dollars of costs and burdensome delays to global trade. Mastercard Track is a tool that will help reduce frictions in the global trading system and promote increased exports – especially by small and medium-sized businesses.”
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