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 businesses and banks to process spending and payments more efficiently.
New regulations, new technologies and new players are changing the way customers and businesses think about payments. Around the world, organisations 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 service provides commercial payments services, including EedenBull’s spend management platform Q Business that offers a solution to digitise the slow and costly processing of cheques 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, EVP, Market Development, Asia Pacific, at 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.”
“At EedenBull, we uniquely combine specialist commercial payments expertise with tech-savvy talent, making us the ideal partner to banks," said Nicki Bull Bisgaard, CEO of EedenBull. "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,”.
Building on the European template
It was just a couple of weeks ago that the pair announced an extension of their strategic partnership in the European Economic Area. Mastercard’s ongoing support was designed to enable the continued growth of EedenBull’s operations in Oslo and Edinburgh, and of the Q Business platform. As part of that agreement, Mastercard is to support Eedenbull’s product development and innovation, including the digital enablement of its services.
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