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January 21, 2019

MineralTree, Mastercard collaborate for AP payments

Accounts payable (AP) automation provider MineralTree has integrated with Mastercard In Control.

The commercial card spend management solution of Mastercard will support the growth of AP payments using commercial virtual cards.

Pre-integration of MineralTree’s Invoice-to-Pay solution with Mastercard In Control facilitates the on-boarding process.

It also ensures quick time-to-value for Mastercard issuers and their customers, MineralTree said.

Mastercard director of B2B partnerships, new payment flows, Greg Pastorek said: “MineralTree, integrated with Mastercard, is a great way for financial institutions to offer a product to their clients that eliminates the friction of everyday accounts payable, while driving working capital benefits.”

MineralTree’s AP solution is designed to support invoice capture and approval, payment authorisation as well as execution.

The integration with the Mastercard solution will support financial institutions in converting paper checks to virtual cards for clients more effectively.

This in turn, is said to provide working capital benefits along with greater control during payment of vendors.

MineralTree founder and CEO BC Krishna said: “MineralTree is redefining how middle-market businesses manage AP.

“The success we’ve seen with this integration confirms our shared vision of enabling financial institutions to offer solutions that optimise cash flow, eliminate inefficiencies, and improve controls for their clients.”

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