TraxPay and MasterCard Take B2B Payments to a Global Level
Traxpay is one of the leading companies in business to business payments, and thanks to MasterCard, it can now provide financial solutions for businesses on a global market. Traxpay currently serves clients in Europe, but it will be able to expand its efforts greatly with the help of MasterCard’s network of 150 countries.
Traxpay has developed a name for itself in B2B financing because of its Dynamic Payments platform. This allows for adjustments to be made due to early payment discounts, incomplete deliveries and missing items. Traxpay estimates that 25% to 30% of invoices in B2B companies need special handling. Dynamic Payments can account for that.
“Traxpay’s ability to combine enterprise data, financial flows, and supply chain interactions in a single cloud-based solution is the Holy Grail,” Frederic Hanika, head of corporate ventures at Software AG, told Forbes. “It puts them in a unique position to enable enterprises to not only collaborate more effectively and gain unparalleled insight into their operations, but also to achieve business outcomes faster than ever before.”
The alliance between TraxPay and MasterCard opens the door for businesses to complete transactions on a global scale with the help of a single finance company. Connecting buyers and suppliers from different parts of the world should prove to streamline developmental processes well into the future.