MasterCard and Microsoft revealed a new partnership to support small businesses in the field of global exports.  According to Small Business Trends, the new solution, called MasterCard Track will integrate “with the existing procure-to-pay process system a business has in place. It then strengthens third-party risk management and improves cash flow visibility while lowering the cost of tasks such as accounts payable/receivable with automation.”

The key is eliminating the need to access multiple places to deal with payment on a global basis.  According to the article this new partnership will combine nine B2B networks and procure-to-pay solution providers including Basware, BirchStreet, Coupa, the Infor GT Nexus Commerce Network, Ivalua, Jaggaer, Liaison Technologies, Tradeshift, and Tungsten Network.

This in turn will establish a fully operational Track Trade Directory which “will allow users to maintain, retrieve and exchange important information about themselves and their trading partners. The directory will have more than 150 million company registrations worldwide, which is kept up to date with integrated feeds from more than 4,500 compliance lists.”

The goal is to connect with the one percent of small and medium sized US businesses that export and grow that number due to the decrease in costs the solution should create.  “Mastercard is going to bring its B2B assets including account-to-account and card payment solutions, fraud management, data analytics, and payment gateway services. For its part, Microsoft will provide its global Azure cloud ecosystem to run Mastercard Track.”

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