Fintech EedenBull has teamed up with Mastercard to launch an AI-backed a card and spend management platform for SMEs. As an extension of the two companies’ existing partnership, Mastercard will refer EedenBull’s Q Business platform to its extensive network of customers issuing cards to SMEs.

The service will be available to issuers immediately, initially in Australia, New Zealand, Singapore, the Philippines, and Malaysia before expanding region-wide. The partnership represents one of the first times a payments network in Asia Pacific is collaborating with a fintech to support a white-labelled Expense Management System (EMS) and Card Management System (CMS) solution for SMEs. A digital, AI-backed platform for SMEs’ card operations With new technologies changing the way businesses and consumers think about payments, SMEs often struggle to find solutions that will help them go digital and optimise their processes.

A recent Mastercard report on SMEs surveyed 10,000 business owners in 24 countries, including five countries in Asia Pacific, and found that 69% of respondents said that a seamless and frictionless digital experience is critical to their business. Q Business responds to this need by providing a one-stop AI-powered digital platform that gives SMEs full visibility of operational spend across the business, simplifies expense management and payment handling, and gives real-time insight into transaction patterns. This allows SMEs to effortlessly issue, manage, and oversee cards for their employees via mobile and web, ensuring transparency and control over expenditure and driving improved business operations.

Elevating SME banking For card issuers, the partnership provides them with a digital card management system designed specifically for SMEs, which will help them to add more value to their business banking relationships with their SME customers. In addition, EedenBull will handle all Q Business integration work for issuers, including setting up the branded solution, carrying out issuer sales training, and managing support for their SME customers. Officials from Mastercard highlighted the simplicity sought by SMEs in Asia Pacific in running their businesses and look to their banking partners to provide them with seamless digital solutions in areas such as business finance and cash flow management.

EedenBull’s Q Business platform can answer this call. Combining Mastercard’s experience, commercial solutions, and wide network of customers and partners with EedenBull’s unrivalled expertise in this space will help banks to stay ahead of the curve and deliver added value to their SME customers. Also commenting on this partnership, Eedenbull’s representatives said their Q Business platform, available through mobile apps and web interfaces, enables SMEs to efficiently manage payments across their organisations.

SMEs are essential to global economies but often lack access to cutting-edge payment technology. Q Business provides business owners with enhanced visibility and control over financial processes, ultimately increasing card issuance among employees.| Paving the way to financial innovations through collaborations The extension of the collaboration with EedenBull aligns with Mastercard’s strategy of working with fintech firms to drive innovation and create opportunities for its partners. These partnerships are already helping financial institutions to deliver new products and services that meet the evolving demands of their customers, connecting them seamlessly to the digital solutions they require.

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