Boost Payment Solutions, Inc., the leader in optimizing the use and acceptance of commercial cards, has announced a strategic global partnership with Mastercard to create tailored and scalable strategies to accelerate and expand the use of commercial card products.
Business-to-business (B2B) spending is believed to exceed $125 trillion worldwide. Today much of this spend 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.
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.
“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.”
“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.”
