Mastercard and U.S. B2B payments company Boost Payment Solutions are teaming up to promote the use and acceptance of commercial cards across the Caribbean.
An announcement made by the firms this week said Boost Payment Solutions will be able to grow its straight-through processing solution in the Caribbean, with the company using its Boost Intercept platform to enable suppliers to accept virtual payments. According to the companies, Boost Payment Solution’s deal with Mastercard enables the firm to expand its solution into the Caribbean, adding to the list of existing territories in which the platform is available, including the U.S. and its territories, Canada, Europe, the United Arab Emirates, Brazil and Australia.
“Enterprises of all sizes continue to see the value in straight-through processed card payments, and we’re very excited to offer our proprietary capabilities to businesses throughout the Caribbean region,” said Boost Payment Solutions CEO Dean Leavitt in a statement. “And through our alliance with Mastercard, we look forward to unlocking the potential of commercial card payments for businesses across the Caribbean.”
“Many businesses view a migration from checks or other forms of payments to commercial cards as an onerous and expensive process involving development resources, and that’s just not the case anymore,” he added. “The complete automation of transactions and reporting provided by Boost services is a source of considerable savings and intelligence for all smart businesses.”
“Access to funds is the lifeblood of every business and is fundamental for growth,” added Mastercard’s Caribbean Territory Head Marcelo Tangioni. “By working with Boost Payment Solutions, we can provide enterprises in the Caribbean more choices in how they pay and get paid.”
Mastercard has initiated other moves into the B2B payments space in recent months. Last June, the company launched the Mastercard B2B Payments Hub and a partnership with B2B payments company AvidXchange in an effort to simplify B2B payments for small- and medium-sized business customers.
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