Mastercard's acquisition of Danish digital payments The process involves drafting checks and getting signatures, then mailing (yes, mailing) platform Nets suggests a plan to make b2b payments as fast as consumer transactions, claims investment expert Jon Markman. While consumer transactions take seconds, b2b transactions take on average 45 days, with many payments still made by cheques sent by post while chasing invoices is a costly process. Mastercard's latest acquisition follows its purchases of identity fraud company Ethoca, point-of-sale product Vyze, bill payment specialist Transactis and cross-border payments provider Transfast. The deal will also help the bank expand into new markets such as China, where it has been trying to build up an online banking presence.
Mastercard's acquisition of Danish digital payments platform Nets suggests a plan to make b2b payments as fast as consumer transactions, claims investment expert Jon Markman. While consumer transactions take seconds, b2b transactions take on average 45 days, with many payments still made by cheques sent by post while chasing invoices is a costly process. Mastercard's latest acquisition follows its purchases of identity fraud company Ethoca, point-of-sale product Vyze, bill payment specialist Transactis and cross-border payments provider Transfast. The deal will also help the bank expand into new markets such as China, where it has been trying to build up an online banking presence.