Mastercard, ADB And Partners Form Supply Chain Digitisation Alliance
(09 September 2020 – Singapore) To digitise supply chains for merchants and wholesalers in Asia and boost their access to credit, Mastercard, along with Finastra, SGeBIZ and N-Frnds, has created an alliance with the support of Asian Development Bank (ADB).
Mastercard will use supply chain data from N-Frnds, SGeBIZ’s digital procure-2-pay platform and other sources to partner with Finastra and its Trade Bank customers to automate access to working capital finance. The group will also use the mobile technology of N-Frnds to better communicate future promotional efforts between wholesalers and suppliers.
Initially starting in Indonesia with 500 retailers, this programme is expected to roll out to 5,000 retailers by the end of the first quarter of 2021.
“Innovative partnerships like this one can support the agility and resilience of supply chains, accelerating access to finance and improving efficiency,” said Mastercard vice chairman and president of strategic growth Michael Froman.
“We are excited to join N-Frnds, our strategic partner for the last mile in this new initiative to digitalise and streamline trade financing and promotions in traditional markets. We believe that this new collaboration will enable us to lead the transformation of value chains in Indonesia, both by extending credit and ensuring that our promotional spend is significantly more effective and enjoyed by the four million grocery stores in Indonesia,” says Coca-Cola Amatil Indonesia President Director Kadir Gunduz.
Subscribe