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That’s why Mastercard has taken steps to eliminate the pain point of managing payment preferences altogether through its Mastercard Track Business Payment Service (BPS), a multi- rail ecosystem that sits between buyer and supplier to optimize the movement of both funds and data in a B2B payments flow. "We said Anderson.
In this week’s look at payment rails innovation, the European Union begins paving the way for greater crypto adoption, while Mastercard expands its own crypto accelerator initiative. Mastercard Expands Crypto Accelerate Program. Now, with Mastercard, Wirex has become its first crypto card licensed principal member.
That includes advancements in Canada's upcoming Real-Time Rail, as well as adoption by Transcard of Mastercard's Track Business Payment Service to facilitate real-time, account-to-account transfers for businesses. Plus, blockchain makes new inroads in the B2B arena. Mastercard Adds A2A For Track Business Payment Service.
11), Mastercard announced a collaboration with blockchain company R3 to create a blockchain-based tool for cross-border B2B payments. There are barriers to progress, though, with most businesses saying that a lack of standard remittance information is the biggest challenge to adoption of electronic payments information.
BitPesa , an Africa-based FinTech looking to power cross-border transactions and foreign exchange for corporates and consumers across the continent using blockchain, has an expansion plan and has just announced a restructuring to fuel that growth. For BitPesa, developing a new blockchain payment rail is the answer to that demand.
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