The partnership leverages virtual card payments to advance the integrated finance experience and accelerate working capital disbursements for businesses, with no sign-up fees for Women and Minority-Owned Businesses (WMBEs).
NEW YORK, April 5, 2022 /PRNewswire/ — Raistone today announced a collaboration with Mastercard aimed at simplifying business-to-business (B2B) financial payments and accelerating access to working capital for small and medium-sized enterprises (“SMEs”). Using Mastercard’s virtual card technology, Raistone will leverage innovation in secure payment to streamline funding approval processes that can prevent SMEs from accessing critical funds needed to sustain and scale their business. This innovative use of virtual cards promotes diversity and inclusion by extending convenient financial tools to businesses that need them most.
The partnership enables automated supplier financing via virtual cards without requiring the intervention of their customers. Additionally, women-owned and minority-owned businesses can join without registration fees until the end of 2022.
“With Mastercard, Raistone is making it easier than ever for businesses to get paid on invoices that would otherwise take months to be paid off. Using existing credit card rails and infrastructure, Raistone is able to reach and to help businesses of all sizes, saving them both time and money so they can get back to doing what they do best,” said Dave Skirzensky, CEO of Raistone. “We are excited to support small and medium-sized businesses, especially at a time when many businesses are on the road to recovery or experiencing strong growth.”
Raistone’s new virtual card program is being rolled out directly to SMBs and integrated into customer-facing software provided by Raistone’s large corporate partners. A key benefit for SMBs is fast registration through their existing platforms, allowing businesses to significantly reduce their operational load and get paid within days.
Commenting on the collaboration, Claire ThompsonEVP Global Trade, Mastercard Enterprise Partnerships, said, “We have a responsibility to advance a fairer and more sustainable future for organizations of all sizes, especially when liquidity is vital in times of volatility. The integration of Mastercard’s virtual card technology into Raistone’s client software enables us to significantly improve cash flow through faster payments, supporting day-to-day operations and fueling growth. With an integrated finance experience, we are accelerating easier access to secure working capital, ensuring businesses have the means to manage and grow their business.”
Raistone was born with the vision to equalize access to working capital and meet the demand for working capital globally. A world-renowned fintech co-owned by a full-service broker, $30 billion family office, 900 billion dollars Wealth manager and international bank, Raistone finances billions of dollars in transactions each year. Its cutting-edge technology coupled with unparalleled access to institutional capital extends financing to businesses of all sizes, fully integrated with the same software platforms they already use. Raistone ensures that all businesses have access to their money, on their terms. For more information, visit raistonecapital.com.