EedenBull and Mastercard extend strategic partnership into Asia PacificJune 29, 2020 | SINGAPORE | By Barkha Patel
EedenBull and Mastercard extend strategic partnership into Asia Pacific
Mastercard and EedenBull have extended their strategic partnership from Europe to the Asia Pacific region to support the fintech company’s launch of a new digital platform for banks and businesses to process spending and payments more efficiently.
New regulations, new technologies and new players are changing the way consumers and businesses think about payments. Around the world, organizations face many of the same challenges when buying and paying for goods and services, so they need the right tools to enable cost-efficient processes, policy compliance, spend control and improved cash flow.
Building on a partnership in Europe, the expanded relationship with Mastercard will support the rollout of Eedenbull’s new commercial cards platform to banks looking to tap into vast opportunities in the Asia Pacific business-to-business payments market. Based in Norway, Scotland and Singapore, EedenBull is a technology-agnostic innovation company built by banking, payment and technology professionals.
For banks and their business customers, the new service provides innovative commercial payments services, including EedenBull’s spend management platform Q Business® that offers a sophisticated yet easy-to-use solution to digitize the slow and costly processing of checks and cash. With Q Business now offered by a network of banks in the Nordics, more than 10,000 registered businesses are benefitting from the process efficiencies and control of spend provided.
“Following Europe, Mastercard is delighted to partner with EedenBull in Asia Pacific and to support its unrivalled expertise to leverage the commercial payments space in the region,” said Yunsok Chang, Executive Vice President, Market Development, Asia Pacific, Mastercard. “With Mastercard’s leading advisory experience, sophisticated commercial solutions and wide network of customers and partners, we will be able to help EedenBull thrive in this market of significant opportunities.”
The extension of the partnership beyond Europe is a testament to Mastercard’s strategy of working with fintech firms to drive innovation and create opportunities for other partners in the Asia Pacific region. As a frontrunner in payments technology, Mastercard is continuously developing new solutions catering to the evolving demands driven by rapid digital transformation.
“At EedenBull, we uniquely combine specialist commercial payments expertise with tech-savvy talent, making us the ideal partner to banks. While payment products and services are now more user-friendly, product management is growing more complex and requires access to specialists in marketing, revenue management, IT, legal, regulatory and many other areas,” said Nicki Bull Bisgaard, CEO of EedenBull.
“Selecting Mastercard as our preferred partner to support us in creating real value for our partner banks and their customers and to support our expansion in Asia Pacific was easy as we share the same view on what businesses require and how we can best meet those requirements in an ever-changing world.”
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.