MasterCard, in collaboration with the Philippines-based technology company Eko-Pay, has launched a new digital payment solution for businesses in Asia Pacific.
The new digital payments offering, Eko-B2B, will help accelerate digitisation of business-to-business (B2B) transactions.
The automated payment solution will empower businesses to modernise workflows and improve productivity for B2B payment transactions. Powered by Eko-Pay, it seamlessly integrates with the MasterCard inControl platform to deliver business payments, slash inefficiencies and boost transparency.
Web portals of the vendors and suppliers, who leverage Eko-B2B, will provide round-the-clock access to current and historical payment details and dashboards that track key business performance statistics, thereby abolishing the need for manual payment systems and their associated complications and operational inefficiencies.
The Eko-B2B solution allows businesses to manage multiple payment systems, non-electronic payment methods and supplier resistance with minimal time.
Eko-Pay CEO Jean-Pierre Gagnon said: “Eko-Pay is very pleased to partner with MasterCard on this solution that bridges a critical gap in the B2B payment environment.
“The entire platform was designed with simplicity in mind to allow for rapid adoption through local and international business networks and provide a long tail acceptance enablement solution.”