Finexio, the smart B2B payment network, announced a strategic partnership with global financial services leader Mastercard. The partnership allows Finexio’s clients to pay suppliers via Mastercard branded virtual cards, offering best-in-class security, worldwide acceptance, and speed, with the two companies collaborating to advance adoption of electronic payments within the U.S. business-to-business market.
“The electronic payments space is growing at an accelerated rate, however, traditional paper checks remain the primary vehicle used for business payments. In partnering with Mastercard, we are now able to introduce more businesses to the efficiencies of electronic payments,” said Ernest Rolfson, CEO of Finexio.
At the time, the release described Finexio as a venture-backed payments company established to save middle-market firms time and money by eliminating paper checks from accounts payable payments, working with companies like The General Insurance and Morgan & Morgan.
“Around 60 percent of businesses are still cutting checks to pay their suppliers, an inefficient process that is fraught with delays and paperwork. Using our products and solutions, businesses can now design efficient and secure payment processes and deliver the choice, transparency and immediacy that their partners demand,” said Marie Elizabeth Aloisi, senior vice president, Business Development, North America, Mastercard.
“Partnerships like this one with Mastercard are integral to Finexio sustaining its growth. Their innovations such as Mastercard Track and the B2B Hub are in total alignment with our goal of creating impactful efficiencies within the business payments space,” added Rolfson.Read the original publication (opens in a new tab)