Mastercard Introduces Mastercard Track To Make the Business of Doing Business Easier

Originally Published by Mastercard.

Mastercard introduced Mastercard Track in collaboration with Microsoft. Track is a unique global trade platform that will simplify and enhance how companies around the world do business with each other.


While parts of the B2B process have been digitized, large and costly gaps still remain an estimated $500 billion in annual administrative costs and rising. These costs are added to the inefficiency of the nearly half of all global business transactions $58 trillion that are still done in paper.

Mastercard Track will address these fundamental challenges by further streamlining and automating the procure-to-pay-process enabling businesses to manage business identity, compliance and payments in a more efficient way.

“While there have been great improvements and innovations in the way consumers pay, the global B2B space remains highly inefficient and paper-based”, said Michael Froman, vice chairman and president of strategic growth at Mastercard. “This adds hundreds of billions of dollars of costs and burdensome delays to global trade. Mastercard Track is a tool that will help reduce frictions in the global trading system and promote increased exports especially by small and medium-sized businesses.”

Unlocking growth for businesses of all sizes

While consumers have become accustomed to a broader choice of technology solutions, businesses too are looking for speed, security and convenience in their everyday operations. From reducing the steps it takes to identify a business partner, to making the payments process simpler and more transparent, Mastercard Track has the potential to unlock economic growth and to level the playing field for small- and medium-sized enterprises (SME).

“Together with Mastercard, we’re helping companies around the world accelerate the pace of their own transformation by creating a more efficient buying and selling process at scale,” said Peggy Johnson, executive vice president, Microsoft. “By building Mastercard Track on Azure, Mastercard will be able to take advantage of our stringent security and compliance standards, our global footprint and our intelligent cloud solutions to help organizations of all sizes drive value from the back-office to the front of the enterprise.”

Mastercard Track underscores the company’s commitment to address several pain points in the global business environment. The new platform draws on and complements the whole range of Mastercard innovation and B2B assets, from account-to-account and card payment solutions to fraud management, data analytics and payment gateway services.

Addressing identity, compliance and payment management needs

Initially, Mastercard is partnering with nine B2B networks and procure-to-pay solution providers Basware, BirchStreet, Coupa, the Infor GT Nexus Commerce Network, Ivalua, Jaggaer, Liaison Technologies, Tradeshift and Tungsten Network representing a wide range of global businesses, to roll out Track’s identity, compliance and payment management capabilities to buyers and suppliers.

Beginning in early 2019, customers of these organizations will be able to maintain, retrieve and exchange key information relating to themselves and their trading partners through the Track Trade Directory, a secure, permissioned repository of over 150 million company registrations worldwide. This central directory will integrate feeds from more than 4,500 compliance lists into one place, making the screening and onboarding of suppliers more efficient.

As the platform expands, suppliers will have better visibility into cash flow when they can expect to get paid and for how much across multiple networks. Track will help connect all types of payments account-based, card-based or bank transfer within the platform, while also connecting purchase order and invoice information. This will streamline and simplify back-office reconciliation, one of the largest burdens facing businesses today.

Through its partners, Track will enable B2B networks, banks, insurance companies and technology providers to extend value-added services to business customers, such as enhanced data analytics and trade finance.

Integrated with Singapore’s National Trade Platform

In Singapore, Mastercard Track has already been integrated with the National Trade Platform, a one-stop digital trade ecosystem which brings together key logistics functions, such as movement of goods as well as regulatory and financial elements for players across the trade value chain. Mastercard Track facilitates secure and efficient electronic payments between buyers and suppliers, helping to strengthen the country’s position as the leading trading hub for the region.

For more information about Mastercard Track, please view our digital press kit or visit mastercard.com/track.

Latest News

multi race business woman

New Report Shows Significant Increase in Female and Black Representation in the Executive Boardroom

Diversity and inclusion appear to be successfully increasing among America’s largest and most successful companies. The finding comes from a new report conducted by executive recruiting firm Crist Kolder Associates as part of its review of DEI representation in executive offices. Ariel Zilber of the New York Post reported that…

Taco Bell

Taco Bell Creates Business School To Help Underrepresented Groups Become Franchise Owners

Taco Bell and the popular fast-food chain’s owner Yum! Brands have entered the DEI arena with a new business school designed to help people of all backgrounds — and people of color in particular — advance into restaurant ownership. Jonathan Maze of Restaurant Business reported that “a select group of…

LGBTQ dog tags

US Government Will Now Allow Veterans To Identify As Trans on Veteran Affairs Medical Records

In another giant leap forward for LGBTQ+ rights and equality in the military, the federal government has announced that military veterans can now officially identify as trans in their official medical records. Brody Levesque of the Los Angeles Blade reported that Veterans Affairs Secretary Denis McDonough has confirmed that veterans…

Comcast NBCUniversal’s NBCU Academy Partners With 13 New Academic Institutions

Originally published at corporate.comcast.com. Comcast NBCUniversal ranked No. 6 on The DiversityInc Top 50 Companies for Diversity list in 2021.   NBCU Academy, NBCU News Group’s multi-platform journalism training and development program, significantly expanded its reach to 30 institutions by adding 13 new partners, NBCU News Group Chairman Cesar Conde announced. The new…