Mastercard launches cross-border payments suite for Asia-Pacific SMEs

The platform allows SMEs to manage payments, collections, and expenses through a single touchpoint.

Mastercard has launched a new cross-border payments solution for small and medium-sized enterprises (SMEs) in the Asia Pacific, aiming to help banks better support businesses expanding into international trade.

The company said the new Mastercard Global Commerce Suite for Small Businesses, powered by Mastercard Move, is now available to banks and financial institutions in Hong Kong SAR, with plans to expand to select markets across the region.

According to Mastercard, the platform allows SMEs to manage payments, collections, and expenses through a single touchpoint.

Its features include multi-currency support through virtual bank accounts or a single multi-currency card, app-based controls and API connectivity with marketplaces and e-commerce platforms, near real-time payouts and tracking, and security and compliance tools designed to reduce friction, fraud, and costs.