Mastercard has introduced Advanced B2B Analytics to help banks find suppliers more likely to accept card payments.
The platform analyses corporate accounts payable data and uses AI to score suppliers by their likelihood of accepting cards.
Interactive dashboards help banks and their clients review payment activity and decide which suppliers to approach.
Mastercard is targeting a common difficulty in business payments: banks and corporate buyers may have the data to identify card payment opportunities, but it is often spread across different systems or handled through manual processes.
The company also offers support from its Advisors & Transformation team to help banks prioritise suppliers and plan outreach.
For corporate clients, the aim is to move more eligible supplier payments onto commercial cards, including virtual cards.
Mastercard expects greater visibility into those payments to help businesses manage working capital, although it has not provided results showing the platform’s impact.
Absa Group and Emirates NBD are among the first financial institutions offering Advanced B2B Analytics to corporate clients. They will use its insights to identify suppliers that may accept cards.
“Businesses today are sitting on vast amounts of payment data, but too often it remains fragmented and underutilised.
With Advanced B2B Analytics, we’re combining powerful insights with our deep commercial payments expertise to help issuers identify where card acceptance can deliver the greatest value, engage suppliers more effectively and drive measurable growth.”
said Marc Pettican, Global Head of Corporate Solutions at Mastercard.
Mastercard plans to extend its payment insights to suppliers and payment acquirers, but has not given a timeline.
Featured image: Edited by Fintech News Singapore, based on image by mumemories via Magnific
