Mastercard has joined forces with self-service payment portal Pay4You to pitch a tail spend management offering to firms in Europe.
The partners are focusing on the 20% portion of a company's expenditures that are not actively managed by procurement.
They claim that by integrating Pay4You's platform with Mastercard's virtual card technology, corporations can reduce costs, increase process efficiencies, and ensure compliance while offering employees a better user experience.
The collaboration will also help issuers capture new flows on cards that are traditionally account-to-account payments.
“We are proud to partner with Mastercard to offer companies a smarter way to handle small, high-volume supplier payments, combining working capital optimization with seamless transaction flows. Corporate credit cards have long been underused in this area. That is about to change,” says Lourens Stamhuis, CEO, Pay4You.
Johanna Waara, SVP, head, corporate solutions, Europe, Mastercard, adds: "By leveraging our virtual card technology within the Pay4You platform, we are enabling corporations to better manage their expenditures and drive greater financial efficiency."