MASTERCARD, a leading technology company in the global payments industry, and Swipezoom announced the launch of Swipe2b, a cloud-based invoicing and payment solution that streamlines traditional accounts payable (AP) processes, delivering improved cash flow for both buyers and sellers. With Mastercard's innovative and secure commercial payments solution integrated into Swipe2b, buyers are now able to place orders, receive compliant e-invoices and pay suppliers earlier – all at the click of a button and without impacting their own working capital. Implementation of the platform is instant and seamless for both the buyer and supplier, and dovetails with existing approval workflows, while providing process transparency through a real-time dashboard, accessible across any device 24/7. Swipe2b›s automation and workflow efficiency provides significant cost savings with error-free streamlining of payments and receivables to the buyer and supplier›s mutual benefit; early payment allows for better pricing and supports stronger relationships. "The vast majority of organizations' invoice and payment processing today is reliant on costly manual paper-based workflows; Swipe2b transforms Accounts Payable (AP) from a traditional cost center into an efficient profit center within an organization," said Amer Qavi, Founder & CEO of Swipezoom. "In the current economic climate, a tool that optimizes a business' cash flow is a paramount need. Our partnership with Mastercard allows businesses to not only streamline their AP function, but also provide much needed liquidity, with fast and secure payments directly into suppliers' bank accounts. This is just another step in our ongoing commitment towards bringing efficiencies to under-optimized areas of businesses everywhere." "Organizations are striving for liquidity in all elements of their business, in addition to this their need for efficiency and security continues to gather pace. This means innovators are looking to bring the next dimension to the market," said Adam Jones, Head of Commercial Products – Middle East & Africa, Mastercard. "At Mastercard, we are proud to have partnered with a fellow innovator in Swipezoom to introduce an e-invoicing and e-payment solution that delivers cash flow improvements to Small & Medium Enterprises, Large Corporates and Government entities. This workflow driven approach to supplier relations promises to benefit all in the value chain, while satisfying those needs for efficiency, cash flow and cost savings," he added.
