Mastercard Track Business Payment Service supports you to receive payments from your business clients via a Virtual Card directly to your bank account. This is a seamless straight through processing experience where you do not need to manually swipe or enter a card number to process a card payment.

Virtual Cards are one time use, non-physical cards used for Business to Business payments that are typically sent via email to merchants. They provide greater control and security to commercial card payments.

Straight through processing allows processing of a virtual card payment from your client directly to your bank account without any manual intervention. Funds for approved transactions are automatically credited to your merchant account as per your current arrangement with Network International. You will receive a payment notification by email with details of the payment including client name, invoice number, payment amount and transaction date

Once enabled for Mastercard Track BPS

1. 1) This value added service allows for you to receive your payments from a Mastercard Virtual Card directly to your bank account
2. 2) You will not need to manually enter the Virtual Card Number
3. 3) You will receive enhanced payment data including client name, invoice number, payment amount and transaction date via a secure link
4. 4) PCI-compliant environment, eliminating the risk of card data security
5. 5) There are no additional fees applicable

Network International brings to you these additional value added feature for your convenience with no additional cost.

This is a Mastercard Innovation. Under phase 1, Straight Through Processing (STP) will be available only on Mastercard. However we will further extend this to other cards shortly. Meanwhile all other cards can be processed by Network International for you on your POS or via e-Com.

To enroll on this service please click on the link https://www.network.ae/mastercardtrackB2Bpaymentsolutions/ and enter your merchant ID and contact details. Your relationship manager from Network International will be in touch with you within 48 hours. As next steps, you will be enabled on Mastercard Track BPS and be given a Supplier ID, as a confirmation of enrollment.

A supplier ID is a unique identification number provided to you by Mastercard Track BPS to confirm your participation on the Mastercard Track BPS service. This is like an account number you can share with your clients to inform them that you are enabled and prefer receiving payment through Track BPS

Network International will send your supplier ID through email to you within one week by Network International LLC.

1. Your clients can pay you using your Supplier ID via participating banks.

When a payment is initiated and authorized you will be notified on email by noreply@versapay indicating a virtual card payment from your client has been authorized. You will receive the funds in your merchant account as per your current arrangements with Network International
Click “View Details” to get the detailed payment information such as buyer name, invoice number, amount, and date

Visit the site to easily view and export the payment data in the format you need to manage and reconcile your receivables. You can manage payment notifications, set up export file formats and schedule file delivery in this integrated portal

You can manage payment notifications, set up export file formats and schedule file delivery via an integrated portal. Virtual Card Receivables Service leverages technology and expertise from VersaPay, a leading provider of cloud-based invoice-to-cash solutions

Customizable file formats for easy integration with ERPs or Accounts Receivable systems available are (CSV, BAI, 820)

Please see these tutorial videos for further information on how you can integrate easily

https://arc.versapay.com/mastercard-vcrs/what-it-does/
https://arc.versapay.com/mastercard-vcrs/getting-started/