Mastercard Track, a global trade platform developed in collaboration with Microsoft, has been integrated with the Networked Trade Platform (NTP) in Singapore, to cater to the needs of businesses of all sizes. The NTP is an initiative led by the Singapore Customs department and the Government Technology Agency of Singapore (GovTech).
The NTP is designed to be a one-stop digital trade platform for business-to-government (B2G) and business-to-business (B2B) services that brings together key logistics functions, such as movement of goods as well as regulatory and financial elements for players across the trade value chain. As a component of NTP, Mastercard Track facilitates electronic transactions and payment reconciliation between buyers and suppliers all around the world. This will enable end-to-end digital trade, helping companies raise productivity, boost competitiveness, and gain access to new opportunities.
Mastercard Track draws on and complements the range of Mastercard innovation and B2B assets, from account-to-account and card payment solutions to fraud management, data analytics and payment gateway services. Through its partners, Mastercard Track will enable B2B networks, banks, insurance companies and technology providers to extend value-added services to business customers, such as enhanced data analytics and trade finance.