Top
image credit: Pixabay

Mastercard gets more serious about commercial payments with new offering

September 12, 2019

Category:

Mastercard Inc. is stepping up its efforts in commercial payments, announcing its new Mastercard Track Business Payment Service in conjunction with its investor day on Thursday.

The new service could help Mastercard MA, -0.87% take a bigger piece of the market for business-to-business payments, which the company estimates to be much larger than the market for retail payments, by offering a digital solution that helps businesses pay one another. Many commercial payments are still handled in an old-fashioned manner, involving checks and invoicing, but businesses generally aren’t inclined to use traditional credit cards for these supplier purchases.

Read More on Market Watch