Mastercard launched its first ever one-stop business-to-business mobile app connecting buyers and suppliers of small businesses in Hong Kong.
The Mastercard Commercial Network App empowers small businesses to enhance their organizational efficiency and facilitate management by providing them with services such as extended payment terms using their Mastercard Commercial Cards, exclusive discounts, free advertising in addition to the availability of a merchants and products directory.
The “Pay Now” payment feature on the application enables merchants to collect payments in full in approximately two days*, helping small businesses to work faster, smarter and more efficiently while maximizing their funds.
To boost identity protection and transaction security, which are the priorities of Mastercard, security systems such as Mastercard SecureCode have been adopted.
“Nurturing businesses is crucial to drive economic growth in our city,” says Hiang Choong, division president, Hong Kong, Macau and Taiwan, Mastercard.
“We developed and launched the Mastercard Commercial Network App in Hong Kong to empower local small and medium sized business owners to better manage their businesses including working capital and creating business opportunities. Access to funds is the lifeblood of every business and the foundation for future growth.”
Edward Chan Kwok Man, Founder of German Pool (Hong Kong) Limited, one of the merchant partners, said, “The Mastercard Commercial Network App provides reliable support for businesses in multiple aspects. We can be assured that payments are collected safely in a timely manner, minimizing risks associated with handling customer cash payments.”
To serve the needs of B2B buyers, the Mastercard Commercial Network is categorized by B2B industry sectors such as catering businesses, import and export businesses, retailing & FMCG businesses, etc. To date, more than 100 merchants have registered and listed their companies on the Mastercard Commercial Network.
The Mastercard Commercial Network mobile app is available for free download and supports both iOS and Android operating systems. There is no service charge for using the app, says MasterCard.