Financial services software solutions and platforms provider SAP Fioneer has announced a partnership with Mastercard to embed commercial payments and services into its platforms. As part of this collaboration, SAP Fioneer’s financial services customers worldwide are to be enabled to deliver embedded payments and lending as part of their business and commercial banking proposition.

Commercial payments and what the SAP Fioneer – Mastercard partnership entails As per the information detailed in the announcement, commercial payments remain largely fragmented, with disconnected systems and processes creating a barrier between goods and services purchasing and the financial services that underpin business-to-business (B2B) transactions. Looking to address this, SAP Fioneer and Mastercard are combining their respective capabilities and reach to explore opportunities that assist banks and fintechs in delivering an embedded payment and lending experience for their customers that meets the growing demand for convenience, speed to market, and agility. By integrating Mastercard’s suite of commercial payment and Open Banking capabilities into the SAP Fioneer Card Management, Embedded Finance, and SME Lending platforms, banks are to be assisted in expediting their ability to support changing client needs for B2B payments, as well as lending and financing for small and medium enterprises and consumers.

SAP Fioneer officials advised that the company is looking forward to collaborating with Mastercard to jointly address an increased need for a better, more simplified approach to embedding financial services into payment processes. Per their statement, combining advanced technology and services from the two companies will help deliver powerful solutions that address significant pain points faced by the industry in the payments space. Further adding on the partnership, Mastercard representatives said that fragmentation has posed a barrier to international trade and commerce for a long period.

Per the spokesperson’s statement, by embedding secure payment and lending capabilities into platforms where a commercial activity takes place, with partners of the likes of SAP Fioneer, Mastercard seeks to help advance a consumer-grade experience for B2B payments and to transform both how companies pay and get paid. SAP Fioneer’s offering and mission A joint venture between global technology company SAP and entrepreneurial investor Dediq, SAP Fioneer was launched in 2021 to become a provider of financial services software solutions and platforms. With an extensive partner ecosystem, more than 800 financial services, and over 1,000 employees, SAP Fioneer is a global business present in 17 countries across Europe, North and Latin America, the Middle East, and Asia-Pacific.

The company enables banks, insurance companies, and challengers to run, change, and grow while addressing their need for speed, scalability, and cost-efficiency through digital business innovation, cloud technology and solutions spanning banking and insurance processes end-to-end. .