Mastercard and EedenBull, a FinTech focused on digital payment management solutions, teamed up to introduce a card and spend management solution for small- to medium-sized businesses (SMBs) in the Asia-Pacific (APAC) region.
The Q Business platform, a digital solution aimed at optimizing operational spend, will help SMBs streamline their spending and payment processes, the companies said in a Wednesday (Nov. 1) press release.
“[SMBs] are essential to global economies but often lack access to cutting-edge payment technology,” EedenBull CEO Nicki Bisgaard said in the release. “Q Business provides business owners with enhanced visibility and control over financial processes, ultimately increasing card issuance among employees.”
Mastercard found that 69% of SMB owners in APAC countries consider a frictionless digital experience crucial to their business, per the release.
The partnership is the first of its kind in APAC, according to the release, bringing together a payments network and a FinTech company to offer a white-labeled expense management system and card management system solution for SMBs. Q Business provides a one-stop artificial intelligence (AI)-powered digital platform.
The platform enables SMBs to issue, manage and oversee cards for their employees through mobile and web platforms, ensuring transparency and control over expenditure. It also allows SMBs to optimize their spending and make data-driven decisions, the release said.
The partnership is not Mastercard’s first in the APAC region.
Send, already offered to Nuvei customers in Singapore, enables faster payments for merchants, acquirers, governments and consumers. Following the partnership, the tool became available in Australia and Hong Kong.
“Nuvei customers will then be able to process payouts, including business-to-consumer disbursements, and funding transactions between over 1.5 billion debit, credit and prepaid Mastercard cards,” Nuvei said at the time.
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