Boost Payment Solutions Inc., a global provider of business-to-business payment technologies, has announced a strategic alliance with Mastercard designed to expand Boost’s card-based straight-through processing payment solution in the Caribbean, the companies announced.
Leveraging Boost’s proprietary technology platform, Boost Intercept, and Mastercard’s global footprint, the alliance was created to bring innovative technology solutions to the region’s nascent commercial card market, they added.
“Enterprises of all sizes continue to see the value in straight through processed card payments and we’re very excited to offer our proprietary capabilities to businesses throughout the Caribbean region,” said Boost CEO, Dean M. Leavitt.
“And through our alliance with Mastercard, we look forward to unlocking the potential of commercial card payments for businesses across the Caribbean,” Leavitt said.
As both a payment facilitator and fintech, Boost offers its Boost Intercept platform as a means of transforming manually processed payments into a fully automated experience for both buyers and suppliers.
This initiative seeks to expand the reach of Boost’s technology solutions in the Caribbean in an effort to improve and expand commercial card usage and acceptance.
“Many businesses view a migration from checks or other forms of payments to commercial cards as an onerous and expensive process involving development resources and that’s just not the case anymore,” said Leavitt.
“The complete automation of transactions and reporting provided by Boost serves as a source of considerable savings and intelligence for all smart businesses,” he added.
Boost Intercept is currently available in the U.S. and its territories, Canada, Europe, UAE, Brazil and Australia.
“Access to funds is the lifeblood of every business and is fundamental for growth,” said Marcelo Tangioni, Caribbean territory head at Mastercard. “By working with Boost Payment Solutions, we can provide enterprises in the Caribbean more choices in how they pay and get paid.”