Boost Payment Solutions, a US-based B2B payment technologies provider, has forged a strategic partnership with Mastercard to expand commercial card usage and acceptance across the Caribbean.

Through this agreement, Boost Payment intends to expand its card-based straight-through processing (STP) payment solution in the Caribbean.

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The alliance will leverage Boost’s technology platform Boost Intercept and global presence of Mastercard to launch new solutions to the Caribbean’s commercial card market.

Boost Intercept is an electronic B2B payment platform that transforms supplier-initiated virtual card payments into a ‘buyer-initiated payment experience’ for suppliers.

At present, Boost Intercept is available in the US and its territories, Canada, Europe, the UAE, and Brazil in addition to Australia.

Boost Payment Solutions CEO Dean Leavitt said: “Enterprises of all sizes continue to see the value in straight through processed card payments and we’re very excited to offer our proprietary capabilities to businesses throughout the Caribbean region.

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“And through our alliance with Mastercard, we look forward to unlocking the potential of commercial card payments for businesses across the Caribbean.

“Many businesses view a migration from checks or other forms of payments to commercial cards as an onerous and expensive process involving development resources and that’s just not the case anymore. The complete automation of transactions and reporting provided by Boost serves as a source of considerable savings and intelligence for all smart businesses.”