Mastercard and EedenBull Provide Card and Spend Management Solution for SMEs in APAC

Mastercard is partnering with Norwegian fintech firm EedenBull to launch a card and spend management platform aimed at improving the efficiency of spending and payments for small and medium-sized enterprises (SMEs) in the Asia Pacific (APAC) region.

Mastercard Brings Q Business to Asia Pacific SMEs

Mastercard will recommend EedenBull’s Q Business platform to its vast network of customers that issues cards to SMEs in the region. The service will be immediately available to issuers, beginning in Australia, New Zealand, Singapore, the Philippines, and Malaysia. It will expand region-wide in due time.

This partnership marks the first time a payments network in the APAC region collaborates with a fintech company to offer a white-label Expense Management System (EMS) and Card Management System (CMS) solution explicitly designed for SMEs.

The Need for Digital Solutions in SMEs

A recent Mastercard survey of 10,000 business owners in 24 countries, including five in APAC, revealed that 69% of respondents view a seamless and frictionless digital experience as critical to their business. SMEs often find it challenging to locate solutions that will aid them in digitizing and optimizing their processes.

Q Business: The AI-powered Solution

Q Business responds to this demand by offering an AI-powered digital platform that provides SMEs with a complete view of operational spending across the business. It simplifies expense management and payment handling and provides real-time insight into transaction patterns. This allows SMEs to easily issue, manage, and supervise cards for their employees via mobile and web, ensuring expenditure transparency and control, and promoting improved business operations.

Added Value for Card Issuers

For card issuers, this partnership offers a digital card management system specifically designed for SMEs, which can help them add more value to their business banking relationships with their SME customers. EedenBull will manage all Q Business integration work for issuers, including setting up the branded solution, conducting issuer sales training, and providing support for their SME customers.

Aligning with Mastercard’s Strategy

The continuation of the collaboration with EedenBull aligns with Mastercard’s strategy of working with fintech companies to drive innovation and create opportunities for its partners. These collaborations are already assisting financial institutions in delivering new products and services that meet the evolving demands of their customers, connecting them seamlessly to the digital solutions they require.