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Fintech & Ecommerce

Mastercard extends commercial card usage for B2B payments in India

Dec 21, 2020

This alliance with EnKash is to provide a B2B digital payment automation platform

Mastercard B2B India

Mastercard extends commercial card usage for B2B payments in India. Source: pexels.com

Mastercard and B2B platform EnKash have partnered to expand the acceptance of commercial cards across India.

The platform is embedded with supplier enablement services designed to help businesses to pay using the Mastercard payment network and to accept card payments, especially for SMEs.

By leveraging the EnKash and Mastercard service, the companies can more effectively use their unused credit lines to pay for multiple types of primary and non-primary financial transactions.

Access to funds is the lifeblood of every business and is fundamental for growth, which is more so for MSMEs. Mastercard solutions coupled with payment network allow businesses to better manage their working capital needs and improve efficiencies through automation and enhanced reconciliation. This alliance brings more options in how businesses pay and get paid, while maintaining exacting standards of security. By ensuring faster payment to suppliers, the bulk of whom are MSMEs, the company would also be supporting a crucial segment of the Indian business eco-system
Vikas Varma, Chief Operating Officer, South Asia, Mastercard

The partnership between Mastercard and EnKash will allow banks to increase spending on cards and offer their customers higher profits and services. Corporations will gain improved oversight, compliance, and security to improve the efficiency of strategic purchasing and large payments.

We’ve reported that Mastercard and Bank of Kigali have launched a new campaign to encourage cashless payments.

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