Removing friction from B2B supplier on-boarding

Over the past few years, we’ve witnessed new and evolving expectations. Businesses are operating faster and more digitally than ever before, they’re leveraging new innovations to improve day-to-day workflows and processes and adapting and embracing new ways to transact.  

Yet when it comes to B2B supplier onboarding for card acceptance, there remains a growing need to modernise and optimise how businesses connect and enable business suppliers to leverage the benefits of card payments. 

Traditionally, onboarding suppliers has been a time-consuming, labour-intensive, and complex process, and has been known to take up to six months longer.¹ 

So, a strong on-boarding process will not only drive choice, but it also has the potential to eliminate friction and significantly reduce onboarding times, unlocking efficiencies, improving transparency and driving cost savings. 

At Mastercard, we’re constantly innovating to provide products and services that empower financial institutions and their business customers.  

To tackle some of these key challenges, we’re excited to have recently launched a new service in Europe.  

Currently being piloted with key European issuers, the B2B Supplier Enablement & Activation Service is a streamlined offering designed to transform the supplier onboarding process for card payment acceptance.  

The service provides a comprehensive, end-to-end solution, offering supplier analysis and insights, campaign planning and management, a targeted engagement strategy, and supplier onboarding. 

In streamlining supplier enablement and onboarding, we can enhance workflow efficiencies and enable suppliers and buyers to harness the advantages of card payments.  

We’re hoping to expand our newest offering across the region by the end of 2024, and for financial institutions wanting to find out more, you can connect directly with your Mastercard account manager or contact the Commercial Solutions team for more information. 

We look forward to continuing to support and shape the future of acceptance for banks, financial institutions and their corporate customers across Europe.  

_{¹ https://hbr.org/2023/10/a-remedy-for-the-supplier-onboarding-problem}