Mastercard announced new partnerships with BMO and Moneris Solutions Corporation ('Moneris'), who have joined Mastercard Track Business Payment Service. This unique Mastercard solution, available to Canadian business customers in early 2022, is designed to help buyer and supplier partners tackle the systemic challenges of business-to-business (B2B) payments one of the first open-loop commercial solutions to do so globally and a first of its kind in Canada. Mastercard Track automates and enhances the execution and management of B2B payments and the exchange of payments-related data between buyers and suppliers. It offers supply chain finance solutions and provides greater control over payments to overcome inefficiencies in the current ecosystem. According to a small business study by Mastercard, four out of 10 (40%) Canadian businesses report facing cash flow issues due to late payments and slow processing times for cash and cheques1. While delayed payments have always been a challenge for businesses, the pandemic magnified this pain point. With Mastercard Track, BMO and Moneris can modernize business payments for their customers by reducing complexity and risk, cutting costs and automating processes. The service enables buyers to improve working capital, use resources more efficiently and strengthen relationships with its suppliers. It offers suppliers a way to enhance control of payments, optimize cash flow management and be more operationally efficient.