Mastercard has introduced a new cross-border payments solution for small and medium-sized enterprises (SMEs) in Asia Pacific, designed to help banks better support businesses involved in international trade.
The company said the Mastercard Global Commerce Suite for Small Businesses, powered by Mastercard Move, is initially available to banks and financial institutions in Hong Kong SAR, with plans to roll it out to selected markets across the region.
According to Mastercard, the platform enables SMEs to handle payments, collections, and expenses through a single interface.
Key features include multi-currency capabilities via virtual bank accounts or a single multi-currency card, app-based controls and API connections with e-commerce platforms and online marketplaces, near real-time payment tracking and payouts, as well as built-in security and compliance tools aimed at lowering friction, fraud risks, and transaction costs.
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