For the commercial UAE clients, the HSBC launched a Mastercard TrackTM Business payment service.
The technology and payment leader Mastercard endures to deliver on their promise for modernization of universal business payments as well as across Middle East as well as African territory, announcing their latest partnership with HSBC that will aid bank’s UAE based commercial clients with an enhanced business-to-business payment experience via the Mastercard Track™ Business Payment Service.
The latest collaboration will have direct consequence in the unveiling of Mastercard Track™ Business Payment Service in the UAE. With partnerships across all territories around the world, Mastercard Track Business Payment Service benefits firms simplify and optimize how they pay and get paid through a global open-loop network. Trades have superior control of their payments with rich data interactions and the ability to systematize payments across multiple payment rails. Among the benefits for businesses are the ability to scale, improved security and control, cash flow efficiency and digitization of prevailing manual processes.
Girish Nanda, Country Manager, UAE & Pakistan, Mastercard, stated that: “The launch of Mastercard Track Business Payment Service is a game-changer for the Middle East and Africa region. We are seeing a structural need to digitize and automate B2B payments across all our markets, accelerated by the global pandemic, and Mastercard Track allows us to fully take advantage of this opportunity. We are thrilled to have partnered with HSBC to further deliver on modernizing the business payment ecosystem by delivering a better payment reconciliation experience for HSBC business customers in the UAE.”
For tracking Business Payment services as well as Account-to-Account functionality in the United States, with plans to scale globally, during the November 2020 the preceding year, Mastercard announced the accumulation of global Card payment competences.
