Mastercard partners with BMO and Moneris – ThePaypers – The Paypers

Mastercard has partnered with BMO and Moneris, who have joined Mastercard Track Business Payment Service.

This Mastercard solution, available to Canadian business customers in early 2022, is designed to help buyer and supplier partners tackle the challenges of business-to-business (B2B) payments.

Mastercard Track automates and enhances the execution and management of B2B payments and the exchange of payments-related data between buyers and suppliers. It offers supply chain finance solutions and provides control over payments to overcome inefficiencies in the current ecosystem.

With Mastercard Track, BMO and Moneris can modernise business payments for their customers by reducing complexity and risk, cutting costs and automating processes. The service enables buyers to improve working capital, use resources more efficiently and strengthen relationships with its suppliers. It offers suppliers a way to enhance control of payments, optimise cash flow management, and be more operationally efficient.

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