Mastercard has launched a virtual card offering that will enable the payment of invoices.
In Brief:
It's called Mastercard Track Instant Pay.
The virtual card offering will be able to authorise immediate payment of invoices when they’re submitted.
It will use machine learning to pay via a virtual card.
What does this mean?
Mastercard says it’s seeking to solve the problem of slow payments which impact business’ cashflow. Technology will be used to analyse an invoice and if it’s not likely to be rejected, pay it immediately.
