The collaboration is set to integrate Mastercard’s commercial card service with KredX’s innovative platform, eliminating the usual complexities associated with B2B payments made using cards.
The KredX platform, powered by artificial intelligence (AI), offers dynamic discounting, early payment and price discovery features, designed to improve cash flow and enhance vendors’ chain management capabilities.
KredX CEO and founder Manish Kumar, said: “By integrating pre-discounting journeys with post-discounting payments, this platform will enhance companies’ operational efficiency and strengthen their supply chain management capabilities.”
The Bengaluru-based firm’s platform acts as a procure-to-pay offering for businesses, facilitating faster and more efficient matching and processing of invoices.
The collaboration between Mastercard and Kredx also aims to address other challenges associated with B2B payments, including long accounting and reconciliation processes, low vendor acceptance and frequent chargebacks.
Mukul Sukhani, senior vice president of business development for South Asia at Mastercard, said: “Combining KredX’s proprietary technology with Mastercard’s expertise in commercial payment solutions will create a pioneering B2B payments solution accessible to all businesses, supporting them with better cash flows and access to working capital.”
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