Mastercard Partners with Demica for Working Capital Solution
(21 October 2021 – Global) Mastercard has announced it will add working capital into its Track Business Payments package through a partnership with supply chain finance specialist Demica.
Through the partnership, Mastercard is putting supply chain financing within the reach of small companies by connecting providers of B2B payments and their respective buyer and supplier customers to working capital.
Demica brings to the partnership a global, multi-product financing platform and expansive network of banks and other funders at scale. Payment partners and their customers can choose from Demica’s capabilities ranging from advisory services, supplier onboarding, and a white-labelled deployment process.
Craig Vosburg, chief product officer, Mastercard says: “Disparate systems and processes in the current B2B ecosystem continue to make cash flow management complicated, increase operating costs, and hinder business growth. Our new offering and partnership with Demica help solve these pain points by allowing buyers and suppliers to unlock their working capital and deploy it to grow their businesses - enabling choice and scale and accelerating financial inclusion.”
The new supply chain finance offering is available on Account-to-Account (A2A) rails in the United States with plans for global expansion throughout 2022.