MasterCard and AptPay Partner for Faster B2B Payments
MasterCard and AptPay announced on Wednesday, August 19, the integration of MasterCard Send into the AptPay platform. MasterCard Send is a global push payments platform, enabling funds to be sent securely in near real-time into any payment card or account. AptPay is a Canadian FinTech company. The partnership allows companies using the AptPay platform to send digital payments securely through bank accounts, prepaid cards, or digital wallets in near real-time.
The partnership enables faster cash access for businesses when cash flow management is more than critical – it is paramount to survival. The COVID-19 pandemic intensified the need for small and medium sized businesses to access cash. Much faster than legacy payment types, MasterCard Send can process payouts end to end. AptPay’s compliance services meet the compliance needs for their industry, ensuring transactions are safe and secure.
The COVID-19 pandemic also enhanced the need for businesses to digitize and automate their payment processes. With the ability to receive funds directly, securely, and in near real-time, businesses are liberated to enable free cash flow.
Safer, Faster, and Less Costly than Checks
Offering more safety than checks provide, the partnership speeds disbursements across multiple industries. With more transparent payment information along with the ability to approve, reject, or reverse payments, businesses can reduce check-related expenses and fraud. Checks not only involve added costs and lengthy timelines, but they also can take days to clear.
“Over the last few years, digital transformation and faster payments have been top priorities for many industries. COVID-19 has created the perfect storm, highlighting the problems caused by not having these priorities in place. AptPay’s Digital Payment Hub enables companies to execute on these priorities and weather the storm,” said AptPay CEO Suganthan Vishnu Krisnarajah
A global technology company in the payments industry, MasterCard uses secure data and networks with connections across more than 210 countries and territories. Their mission is to connect and power a digital economy, benefiting everyone, everywhere by making transactions safe, simple, smart, and accessible.
Founded in 2019, AptPay is a Canadian Fintech in the payments space. Serving businesses across a network of connected financial institutions and multiple payment rails, AptPay envisions a future where payouts are safely made to customers in near real-time, without friction.
Host Merchant Services
Host Merchant Services offers state-of-the-art POS systems personalized for your business. From B2B to B2C and everything in between, HMS provides businesses the tools they need to be successful. For payment processing, HMS can help your business accept all credit and debit cards with the lowest transaction rates on the market. We are able to retain customers with our low rates and excellent customer service – not our contracts. With 24 hour customer service, seven days a week and 365 days a year, we require no term commitment, and we charge no up-front fees or hidden fees. Nor do we charge application or setup fees. An industry leader, Host Merchant Services is always here for you.