It is probably one of THE most important trends in e-invoicing: getting your invoice paid sooner upon approval, whereas you buyer’s payment term is extended in the meantime. Not so long ago Tradeshift started a similar initiative with CapitalAid. And now Basware and MasterCard take the stand.

Initiatives like this one by MasterCard and Basware can really transform the way that companies do business with each other through this new single global payment solution. The result: immediate cost savings, efficiency gains, improved liquidity and less bankruptcies.

Why these kinds of services emerge

First of all, it fits how e-invoicing is currently developing. Also it becomes clear that traditional ways of doing business, even highly successful ones, can suffer financial performance issues caused by long payment cycles – especially when dealing with costly international payments. This is caused by a reliance on paper-based payments, labour-intensive processes, poor remittance data and low confidence in cash flow management; an issue that can even trigger issues in supply assurance.

Source: http://www.basware.com/news-and-events/news/basware-and-mastercard-partner-to-transform-the-way-businesses-pay-and-get-paid