Marqeta seeks new business customers with Mastercard B2B solution

The news: API issuer-processor Marqeta integrated Mastercard's Track Instant Pay solution to streamline B2B payments for its customers, per a press release.

Here's how it works: Mastercard Track Instant Pay uses machine learning to identify invoices that are likely to be rejected so the rest can be approved for payment without manual intervention.

Mastercard uses straight-through processing to send approved invoices directly to the supplier's bank account via a Mastercard virtual card—letting suppliers and buyers avoid exchanging bank account information.