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CASE STUDY

Boost Payment Solutions Helps Large Retailer Centralize Reporting and Scale Card Spend

INDUSTRY BACKGROUND

The B2B payment industry is shifting, as more buyers and suppliers address high costs, automate manual payment processing, and adopt digital payment solutions. Virtual cards are quickly becoming the preferred method of payment for enterprise buyers because they are significantly more secure than other payment modalities and offer better control for procurement and AP organizations. As AR teams are challenged to accept a widening array of payment types, including virtual cards, they are looking for processing solutions that minimize costs, reduce manual workloads, increase security, and ultimately optimize cash flow.

Success Metrics

$500M+ Annual card spend

340,000+ Card transactions annually

4,000+ Locations supported

3 FTE saved through automation

THE CHALLENGE

For a large home improvement retailer with more than 4,000 locations, virtual
card acceptance had become difficult to scale. Transactions were spread across
retail stores and regional credit offices, while key remittance details, including
account numbers and invoice numbers, were not always captured consistently.
Payments required manual intervention, exceptions were difficult to clear and
reconciliation depended on incomplete data from multiple sources. The process
also made it harder to understand the true cost of card acceptance, optimize
interchange and reduce exposure to sensitive card data. The retailer needed a
way to keep valuable card spend in place without adding more manual work to
an already complex operation.
PROOF POINTS
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Mastercard has successfully migrated the vast majority of its payments to its commercial card platform. Mastercard now pays suppliers with its commercial card products via Boost in over 30 countries around the world.
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Mastercard enjoys significant rebates and working capital generated by its card payment program.
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Boost and Mastercard entered a strategic global partnership in 2021 to expand the use and acceptance of commercial cards around the world.

THE SOLUTION

Mastercard enlisted Boost to simplify its payments to suppliers via Boost’s proprietary straight-through processing (STP) platform, Boost Intercept®, thereby allowing Mastercard to automate supplier onboarding, payment processing and remittance reporting.

Boost Intercept digitizes Mastercard’s commercial card payments so that payments are automatically settled with the supplier’s depository banks while payment notifications and detailed remittance reports are sent to suppliers in their preferred file format. By integrating Boost Intercept with Mastercard’s virtual card platform, In Control®, Boost was able to convert the e-mail-based output from In Control into STP payments across the globe using locally issued card products with a single push of a button.

THE SOLUTION

Boost implemented it’s multi-patented straight-through processing (STP)
technology, Boost Intercept, to help transform the retailer’s decentralized
virtual card process into a centralized, automated acceptance model. By
consolidating payment files directly to one inbox and enriching payment
notifications with the remittance data needed for reconciliation, Boost created a
more seamless process for handling virtual card payments. 

Instead of requiring teams to manually track, key and reconcile payments
across multiple locations, Boost enabled a more controlled workflow that
supported automation, improved reporting and cleaner daily reconciliation. The
result was a solution designed around the retailer’s operational reality, not a
one-size-fits-all payment process.

 

Project Achievements

CENTRALIZED REPORTING

Consolidated payment and remittance data into a headquarters-led workflow, giving the retailer cleaner visibility across thousands of locations and reducing reconciliation complexity.

END-TO-END AUTOMATION

Automation replaced manual keying and payment follow-up across locations, while a custom logic engine validated and corrected invoice and account numbers, significantly reducing payment exceptions and rework.

OPTIMIZED TRANSACTION COSTS

Payments were processed through Boost at optimized interchange rates, with no transaction limit.

IMPROVED SECURITY

Reduced exposure to sensitive card data, helping lower fraud risk and alleviate PCI compliance concerns.

About Boost

Boost Payment Solutions is the global leader in B2B payments with a technology platform that is purpose-built to meet the complex demands of today's commercial trading partners. Our proprietary technology solutions bridge the needs of buyers and suppliers around the world, eliminating friction and delivering process efficiency, payment security, data insights and revenue optimization. Boost was founded in 2009 and operates in 45+ countries. Boost Intercept®, our patented Straight Through Processing (STP) platform, eliminates manual workflows with end-to-end payment and data automation. Breaking the mold of traditional rigid credit card pricing constructs, Dynamic Boost® offers buyers and suppliers payment flexibility based on business rules that fit their mutual needs. The Boost 100® platform brings together all the solutions and services that large enterprises need to enable up to 100%of their AP spend on their commercial card.
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