Citi accelerates B2B payments for PPE procurement, Mastercard’s Track Business Payment service launches, and Traydstream automates blockchain-based trade finance
| | | | BUSINESS-TO-BUSINESS EDITION | | Food Service Equipment Sellers Navigate An Uncertain Industry Future Closed restaurants and changing business models create an uncertain future for all participants in the food industry supply chain. For food service equipment suppliers, the buyer experience is more important than ever to preserving cash flows and keeping restaurants in business. AutoQuotes CEO Jim Contardi tells PYMNTS about the impact of a flexible B2B payments offering on supporting both buyer and seller in a rapidly-changing market. |
| Commercial Card Innovation |
| Card Ecosystem Elevates Its Value Prop For Corporates As commercial card transaction volumes climb, two of the industry's biggest players â Visa and Mastercard â have each announced new solutions designed to enhance the payment experience for corporates. They join several financial service providers exploring how the commercial card can support businesses through times of volatility, from embracing contactless payments in logistics to introducing benefits for fleets. |
| | X-Border B2B Payments | | Citi: Healing Broken PPE Supply Chains With Streamlined Cross Border Payments Innovation in banking infrastructure can facilitate a high-value cross-border B2B transaction in a matter of days â but for hospitals scrambling to procure personal protection equipment (PPE), payments need to occur in a matter of hours. Thor Perplies, commercial bank senior vice president and treasury sales officer at Citi, describes the experience of working with Flywire to quickly move funds to a PPE vendor in China for Boston-area hospitals â and the lessons learned for a post-pandemic global B2B payments ecosystem. |
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