Mastercard's James Anderson on simplifying B2B payments, launching Track Business Payment Service

Welcome to the Tearsheet Podcast. I’m Zack Miller. Commercial payments are a huge opportunity. They’re antiquated — checks are still very popular in the U.S. -- they’re complicated, and they’re huge, worth hundreds of trillions of dollars. Mastercard’s James Anderson, evp of global commercial products, joins us on the podcast to talk about his team’s major launch of Track Business Payment Service. Mastercard’s Track BPS addresses the different ways buyers and suppliers want to transact with a B2B digital payments solution in the U.S.. It uses card payment rails combined with distribution partners across the B2B ecosystem. James walks us through the challenges of B2B payments and how his team began building Track BPS 20 months ago. He describes the architecture and how it relies on partners that have direct inroads into buyers and sellers. It’s a big launch for James and Mastercard, designed to go global from the start. James Anderson is my guest today on the Tearsheet Podcast.