Invoiced, the award-winning Accounts Receivable Automation platform for mid-sized businesses, today announced a new partnership with Mastercard to enhance accounts receivable and payments via Mastercard TrackTM Business Payment Service. The new partnership will enable Invoiced to bring key payment and reconciliation benefits to mid-sized businesses using Invoiced worldwide.
With the new integration, Invoiced clients (Suppliers) can further automate collections activities via Invoiced, by enabling the client’s customers (Buyers) to bypass the client’s Invoiced-powered payment portal, remitting payments from the Buyer’s A/P system directly to and through Invoiced. This new capability, facilitated by Mastercard TrackTM Business Service, satisfies a critical A/R use case for mid-sized companies who issue invoices to large businesses, government agencies and others. These large Buyers typically require that payments be requested, registered and managed via an A/P portal. As a result, the new integration is intended to deliver greater A/R efficiencies for Invoiced Supplier clients as well as A/P efficiencies for their respective Buyers.
Because Mastercard has established a Mastercard TrackTM Business Payment Service network and business directory that includes Suppliers and Buyers, businesses using Invoiced are now able to maximize their A/R automation coverage across more of their customers. Invoiced brings thousands of Suppliers—who collectively transact with more than 1 million Buyers—to Mastercard TrackTM Business Payment Service, uniquely expanding the overall reach of this network for small and mid-sized businesses.
“We’re thrilled to partner with Mastercard on this important initiative for streamlining business payments and are excited about the potential for our clients and their customers,” said Adam Weinroth, chief marketing officer and head of partnerships for Invoiced. “Because so many businesses want to leverage accounts receivable automation, even for their biggest customers, this new partnership unlocks a critical new use case that would have previously been highly challenging or simply off the table for most mid-sized companies,” he added.
“Mastercard TrackTM Business Payment Service is an open loop network that’s helping solve the operational complexities of B2B payments” said David Trecker, senior vice president of B2B payments at Mastercard. “Partnerships with leading innovators like Invoiced enable Suppliers and Buyers around the world to take full advantage of financial automation, delivering win-win outcomes across the global business payment landscape.”
In order to take advantage of the new partnership and integration between Invoiced and Mastercard TrackTM Business Payments Service, new and existing Invoiced clients can visit info.invoiced.com/mastercard to enroll.
