What is MasterCard Payables Account?
The Payables Account is a physical or virtual credit account, issued by a MasterCard financial institution under the commercial product umbrella (Purchasing Card, Business Card, etc.) The account can be a single credit card account, a “one time use” account, or “ghost” accounts that are associated to individual suppliers. Some of the product features include: • Buyer Initiated Payments: Payables Account transactions are ’buyer initiated’ whereby the corporate buyer (payer) initiates the transaction via an ERP (Enterprise Resource Planning) or Accounts Payable System (as opposed to a traditional transaction that is initiated from a supplier (payee) point of sale. • Straight Through Processing: Payables Account transactions are processed ’straight through’ to the acquirer processor (see section 2.1). This model mimics the way EFT payments are processed and is more aligned with BtoB payments. • ERP / AP Integration: Payments are generated directly from the buyer’s existing ERP o
