Mastercard has unveiled plans to boost B2B payment automation across the globe, focusing on modernizing supplier reconciliation and simplifying virtual card transactions.

Key Initiatives for Enhanced B2B Payments

One of the main initiatives includes the global roll-out of Mastercard Receivables Manager. This automated solution is designed to make virtual cards more efficient, secure, and cost-effective for businesses that accept payments.

To offer payment service providers greater flexibility in implementing B2B payment solutions, Mastercard has introduced Commercial Direct Payments. This improved straight-through processing system fully automates the virtual card payment and reconciliation process.

Impact and Benefits of the New Solutions

The expansion of these offerings is expected to provide a swift and efficient B2B payment experience for both buyers and suppliers, particularly as digital commercial payments become increasingly vital. According to Mastercard’s official press release, 93% of B2B suppliers consider digitizing payment processes essential, while two-thirds still fall short in meeting buyer payment expectations.

Mastercard Receivables Manager, launched two years ago and now globally available, has been enhanced with features like multi-language support and secure card-on-file to facilitate global digital commerce. This product allows acquiring partners to modernize supplier virtual card acceptance experiences across major card networks, helping customers build stronger buyer-supplier relationships.

Commercial Direct Payments is a card network-agnostic solution that automates accounts receivable processes for suppliers while also enhancing digital payment opportunities for buyers who prefer card payments.

When the buyer initiates a card payment, Commercial Direct Payments streamlines the process by directly connecting with the supplier’s acquirer. This eliminates manual steps involved in making and receiving payments, ensuring that funds are automatically deposited into the supplier’s account, and detailed remittance data is securely integrated into the AR workflow.

The benefits for ecosystem players include driving supplier efficiency through automated reconciliation, unlocking scaled automated B2B payment processing, and strengthening buyer-supplier relationships. With Commercial Direct Payments, buyers have greater flexibility to pay with physical or virtual cards while suppliers can receive payments securely, efficiently, and on time.