The service is offered in partnership with MasterCard, the world’s most advanced payments technology company. The collaboration combines MasterCard’s global payments processing network with Basware’s Commerce Network to offer a unique payment solution enabling huge opportunities for both buyers and suppliers. It provides total payment process flexibility for organizations of all sizes and is transforming the way companies pay and get paid.
Benefits for buyers:
Benefits for suppliers:
The funding for your payment program is provided by your chosen bank, but financed by supplier discounts.
Your bank will provide you with a free credit line, matching or extending your current payment terms. The bank will also, potentially, give you a rebate based on the new business you bring. This means you get free credit and, thanks to the rebate, your cost of purchase will be lower.
Your suppliers will have to accept a small discount, but they will get paid faster: within three days.See less
Trigger early payment to your suppliers without any additional effort thanks to invoice approval in you accounts payable system.
Early payment is triggered by an invoice approval in your accounts payable system. The approval sends a notification message from your AP system to Basware. We then process the payment information utilizing MasterCard’s global payment network: connecting financial institutions used by you and your supplier. Payment to your supplier is issued by your bank automatically.See less
Basware utilizes MasterCard's global network, which processes more than 65,000 transactions per minute and reaches over 20,000 financial institutions.
MasterCard connects with all relevant financial institutions – including your bank – to guarantee fast, secure payments to your suppliers. Click here to watch the video.See less
Payments are based on the use of virtual card technology that enables extremely high security and a smooth transaction every time.
A unique virtual card number is issued for each payment transaction. This enables not only high data security but also detailed remittance reconciliation information for each payment. This means you will always have access to comprehensive payment details.See less
We take care of on-boarding suppliers into the early payment program – allowing you to relax and reap the benefits.
Basware offers a number of off-the-shelf enablement solutions designed for a successful activation campaign. If none of these are suitable, our global activation team can tailor a program just for you.See less
The Basware Commerce Network is an open, global ecosystem that allows companies of all sizes to connect and trade efficiently across the globe.
Basware Commerce Network connects with over 170 international e-invoicing networks, bringing together more than 900,000 companies. This makes it the largest open network in the world. Today, Basware customers operate in over 100 countries and exchange more than 60 million transactions annually within the network. For you, this means a straightforward e-invoicing connection point with a truly global reach. For your customers, this means flexibility, fairness and instant access to value-added services.See less
Give us some contact details and we can arrange a call to discuss your exact requirements with no obligation.Contact Us