Dubai, United Arab Emirates, 21 November 2024: Mastercard and Fundbot, a UAE-based fintech firm specializing in supply chain financing, have announced a strategic partnership to revolutionize business-to-business (B2B) payment flows across industries. The collaboration will launch an advanced payments platform designed to seamlessly connect buyers and suppliers, driving efficiency and enhancing cash flow management.
Initially rolled out in the UAE and Saudi Arabia, this innovative, tech-driven solution will streamline B2B transactions by incorporating added-value features such as Fundbot’s dynamic discount product. This feature incentivizes faster payments, enabling suppliers to convert receivables into cash more quickly and reducing days sales outstanding (DSO).
The platform’s first deployment will focus on addressing payment delays in the healthcare sector, facilitating early claim settlements and alleviating cash flow challenges for suppliers.
“At Mastercard, we aim to empower businesses of all sizes to unlock the full potential of the digital economy,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard. “By collaborating with Fundbot, we are transforming the B2B payments landscape, eliminating the inefficiencies of traditional processes, and providing businesses with fast, secure, and seamless payment solutions. This innovative platform is a game-changer that will increase the use of virtual cards and streamline B2B transactions.”
Innovative Features for Enhanced Efficiency
Fundbot’s dynamic discount product is fully integrated with leading enterprise resource planning (ERP) systems, ensuring widespread compatibility and ease of adoption. Leveraging AI-powered algorithms, the solution recommends optimal discount rates for each transaction based on country, industry, and vertical trends. This helps buyers achieve high acceptance rates while maximizing savings through early payment discounts before invoice due dates.
The platform addresses a key pain point for SMEs in the MENA region—cash flow management—by accelerating payments and strengthening relationships between buyers and suppliers.
“Fundbot is on a mission to revolutionize B2B payments, which are critical to the functioning of any economy,” said Karl Abouzeid, Founder & CEO of Fundbot. “Our dynamic discount product empowers companies with access to funds when they need them most, enabling better financial management and growth opportunities. Partnering with Mastercard allows us to drive the adoption of digitized payments in the region and fuel economic growth.”
Seamless Integration and Regional Focus
The platform will leverage Mastercard’s In Control for Commercial Payments (ICCP) solution to issue virtual cards for suppliers through partnerships with regional banks. Buyers will benefit from automated onboarding, allowing cost-effective inclusion of small suppliers, and access to customer support in Arabic, English, and French for seamless engagement across diverse regional markets.
With this partnership, Mastercard and Fundbot are setting a new standard for B2B payment systems, paving the way for digitized, efficient, and accessible financial solutions for businesses in the MENA region.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
