TradeWindow and Mastercard collaboration set to strengthen cross-border trade relations
TradeWindow has partnered with Mastercard in a bid to increase access to trade finance and simplify cross-border payments.
The partnership highlights the growing realisation of the need for more innovative solutions for businesses in a trade space. Many economic ports are being compromised by issues related to the Coivd-19 pandemic.
With supply chain issues and cash flow solutions becoming harder in the wake of border shutdowns, companies are finding it harder to implement and seek new solutions.
TradeWindow believes the new partnership will help fully utilise integrated cross-border payments solutions and increase trust across the supply chain while boosting cash flow for Australasian businesses.
The company says that digitisation has brought physical and financial supply chains closer together, but many companies and SMEs have limited access to digital services, making international trade complex time-consuming and costly.
Using their new digital trade platform called ‘Cube', TradeWindow says new technology will improve trust between trading partners and support event-based payment triggers, enabling earlier payment options and better reconciliation.
“Our aim is to make cross border trade easier for exporters, and also support the acceleration of global trade,” says TradeWindow CEO AJ Smith.
“Working with a trusted global technology leader like Mastercard, TradeWindow is advancing a secure and robust payment and trade finance offering on our platform that will help our customers to grow their export, import and trade-related businesses.
Mastercard Enterprise Partnerships executive vice president global trade Claire Thompson says that their company is proud the partnership will create new opportunities for businesses. She says that removing complex challenges faced by a rapidly changing landscape is critical for economic and trade growth.
“Mastercard is powering the digital economy, providing organisations large and small with the tools they need to run and grow their business.
“By combining our payments technology with TradeWindow, our collaboration aims to remove barriers to cross-border trade, simplifying payment processes and empowering Australasian businesses with integrated and automated solutions that help them to pay and get paid more easily.
Based in New Zealand, TradeWindow is an NZX-listed company and has worked across a variety of different industries to implement digital trade solutions. Founded in December 2018, they create platforms that relate to issues such as back-end operations, shared information and secure collaborations.
Government agencies and private companies also utilise TradeWindows services, and the company says having Mastercard as a partner will strengthen international and cross-border economic relations going forward.