Mastercard, the global payments company, has introduced Mastercard Track in collaboration with Microsoft. Mastercard Track is a unique B2B platform that better connects buyers and suppliers with networks, banks, and solution providers.
Powered by Microsoft Azure, Mastercard Track will streamline and automate the procure-to-pay-process – enabling businesses to manage business identity, compliance, and payments in a more efficient way.
According to Michael Froman, vice chairman and president of strategic growth at Mastercard, while there have been great improvements and innovations in the way consumers pay, the global B2B space remains highly inefficient and paper-based adding hundreds of billions of dollars of costs and burdensome delays to global trade.
Mastercard Track is a tool that aims to reduce frictions in the global trading system and promote increased exports – especially by small and medium-sized businesses. According to Peggy Johnson, executive vice president at Microsoft, by building Mastercard Track on Azure, Mastercard will be able to take advantage of the company’s stringent security and compliance standards, its global footprint, and intelligent cloud solutions.