Corporate buyers often like using cards to pay suppliers more than their suppliers like accepting them. Interchange fees associated with card acceptance is a significant detractor from supplier acceptance, research shows.
But a new initiative from Mastercard and Adflex aims to boost supplier acceptance rates.
The companies said last week it is launching their supplier onboarding service, which offers a 14-step onboarding process for corporates to aid their suppliers in accepting card payments.
The platform combines streamlined signup and enrolment solutions, the firm explained, and allows issuers and corporate buyers to manage their new and existing card programmes
“This joint initiative of Adflex and Mastercard means issuers can be confident that their clients’ card programmes will perform as expected without the worries of supplier pushback,”
said Adflex Commercial Director Andy Downman in a statement.
Mastercard and Adflex are launching their Supplier Onboarding Service after a number of successful pilot projects across the UK and Europe, the companies said.
