| When it comes to purchasing goods online, businesses may have more spending clout, but it is consumers who have an easier time paying for their purchases with a credit card. Shortly though, MasterCard International and TradeCard Inc. will begin piloting a new service that aims to eliminate that difference.
MasterCard and TradeCard have entered into a joint venture to develop an online service that will speed payment between trading partners in B2B exchanges. The service will combine MasterCard’s traditional credit with TradeCard’s international B2B payment system, which helps companies execute major transactions with overseas trading partners. The service is intended for purchases as large as $100,000.
The new service is targeted at e-marketplaces, where trading partners may not know each other, and transactions are slowed by paper-based line-of-credit negotiations. With the MasterCard-TradeCard offering, buyers and sellers will be able to complete their transactions using a credit card, much like online consumers do, without changing their back-end accounting systems. |
