The program represents a collaborative effort between Mastercard and Boost designed to advance commercial card payments in the United States, Canada, Brazil, United Kingdom, Western Europe, Mexico and Australia
NEW YORK — (BUSINESS WIRE) — Boost Payment Solutions, Inc., the leader in optimizing the use and acceptance of commercial cards, announced today a strategic global partnership with Mastercard to create tailored and scalable strategies to accelerate and expand the use of commercial card products. The partnership’s initial focus will be seven key markets – the United States, Canada, Mexico, Brazil, Western Europe, United Kingdom and Australia.
Business-to-business (B2B) spending is believed to exceed $125 trillion worldwide. Today much of this spending remains entrenched in antiquated methods, with invoices in many regions of the world still being manually processed and reconciled. B2B payment providers, such as Boost, deliver automated, efficient, and lower-cost solutions for companies and their suppliers, which has already resulted in tens of billions of dollars of business-to-business payments having been converted to commercial card products. This alliance is expected to support the acceleration of global commercial card use and acceptance.
“Boost’s suite of technology-enabled solutions and proven supplier enablement strategies are designed to maximize commercial card use and acceptance globally,” said Dean M. Leavitt, CEO & Founder at Boost Payment Solutions. “We look forward to expanding our partnership with Mastercard and leveraging their global presence to drive operational efficiencies in the B2B payments space.”
The global nature of the alliance highlights the tremendous opportunity that lies within these selected regions. Mastercard’s global presence, coupled with Boost’s B2B expertise on expanding card acceptance, aims to achieve new levels of B2B payment efficiencies, cost savings and overall productivity within the B2B payments ecosystem in these fast-growing economies. Mastercard and Boost have a long-standing relationship in expanding and enhancing the B2B payments landscape, and Boost has been a partner for Mastercard Track™ Business Payment Service since its launch.
“We’re working with partners to help businesses optimize their working capital and drive efficiencies in their payments-related activities,” said Robert Luton, EVP – Enterprise Partnerships at Mastercard. “This effort with Boost will continue to support the shift from paper-based processes towards a more frictionless, digitized effort.”
Boost continues to expand its global team to support this partnership with Mastercard and key hires are already in place in the United States, Canada, Brazil, Mexico, Australia, U.K. and Western Europe.
As the leader in B2B electronic payments, Boost optimizes how commercial card payments are initiated, processed, received and reported. Boost’s technical innovations have transformed commercial cards into a cost effective, scalable and secure alternative to traditional checks, wires and ACH. Boost features a global footprint that serves a broad spectrum of industries. Boost was founded in 2009, and is headquartered in New York, NY. Please visit us at www.boostb2b.com