Mastercard and Fundbot are collaborating to create a platform for optimizing B2B payments for various industries, including handling cross-border transfers. Mastercard, one of the leaders in payment solutions, and Fundbot, a FinTech company from the UAE specializing in supply chain financing, have joined forces to optimize B2B payment flows across different sectors. The companies plan to launch a payment platform that will simplify and enhance the financial connections between buyers and suppliers.
The innovative payment solution will initially be launched in the UAE and Saudi Arabia, but may be scaled to other countries in the future. The primary focus of the implementation will be on early claims settlement in the healthcare sector and accelerating payment processing.
In the future, the project authors intend to integrate the dynamic discount product Fundbot into the platform, which:
will accelerate the conversion of accounts receivable into cash for suppliers;
will reduce the Days Sales Outstanding (DSO);
will overall simplify the execution of B2B payments.
Moreover, the Fundbot product is fully integrated with leading enterprise resource planning (ERP) systems, facilitating its implementation and use for companies of all sizes. It also includes the possibility of using dynamic discounts and is equipped with an AI tool that recommends the optimal discount rate for each transaction based on current trends in the specific country and industry, increasing the conversion rate.
Recall that earlier Mastercard and JPMorgan joined forces to enhance the efficiency of cross-border B2B payments through the integration of Multi-Token Network (MTN) and Kinexys Digital Payments. Additionally, a new solution aimed at improving the efficiency and security of B2B payments in the travel services sector was recently launched as part of the Mastercard Wholesale Program (MWP).
