Mastercard has announced the launch of a new supply chain finance capability.

The offering is part of its Track Business Payment Service, which is designed to increase access to working capital and accelerate automation when businesses pay and get paid.

Mastercard Track, an open-loop network, can now connect providers of B2B payments and their respective buyer and supplier customers to working capital.

The capability has been launched in partnership with Demica, a global provider of supply chain finance technology. The company has a multi-product financing platform, as well as a network of banks and other funders.

“Helping businesses optimise their working capital has been one of the key goals of Mastercard Track Business Payment Service,” said Craig Vosburg, chief product officer, Mastercard. “Disparate systems and processes in the current B2B ecosystem continue to make cash flow management complicated, increase operating costs, and hinder business growth.

“Our new offering and partnership with Demica help solve these pain points by allowing buyers and suppliers to unlock their working capital and deploy it to grow their businesses – enabling choice and scale and accelerating financial inclusion.”

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