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MasterCard Payment Gateway adds electronic invoicing |
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MasterCard Worldwide has integrated its MasterCard Payment Gateway with iPayables’ electronic delivery capabilities to provide expanded payment services to corporations and financial institutions. iPayables is the first non-bank reseller whose functionality is coupled with the MasterCard Payment Gateway. Atlas Air Worldwide Holdings, provider of global air cargo assets and services, is the first company to utilise the integrated capabilities of the MasterCard Payment Gateway and iPayables.
First introduced in October 2007, MasterCard Payment Gateway is a payment processing platform for routing commercial payments between buyers, suppliers and their financial institutions. Utilising the MasterCard Payment Gateway, a buyer can initiate payment card and electronic funds transfers (EFT) payments directly from its financial system to the banks of its suppliers. Remittance data is provided to both the buyer and supplier to speed up reconciliation process. No account information is shared between the buyer and supplier, and the supplier does not need to use a point of sale device to originate payment. Financial institutions can re-brand the MasterCard Payment Gateway or integrate it into current product offerings. |
