Neu-Isenburg/Copenhagen, 04 May 2022
Global corporate payment specialist AirPlus International and Danish Fintech Mazepay have entered a strategic partnership. The two companies will jointly help corporate customers to simplify their indirect procurement processes. The focus of the joint solution will initially be on medium and large-sized European enterprises. It is planned to be extended into other regions at a later stage.
The joint solution provides an easy and secure way to empower the employees to purchase in a compliant way using AirPlus Virtual Cards and the Mazepay spend management platform, ensuring that all approvals have been completed according to company policies. The fully cloud-based solution helps enterprises get in control of long-tail spend. The integration of a corporate payment solution and individual company procurement policies helps to automate approval processes. Managers can get insights into and transparency of all long-tail spend across the enterprise.
“The partnership with the global Mastercard partner Mazepay allows us to expand our global leadership position within travel payments to the B2B area – especially within the long-tail spend segment, which we know that all our customers are really struggling with from both a cost and compliance perspective”, said Stefan Waelde, Head of B2B Payments at AirPlus. “The solution will make it much easier to manage and pay both one-off expenses and recurring purchases.”
Søren Aabel Hammer, CEO of Mazepay, added: “We are really thrilled about this partnership. By strategically managing the long-tail with our online platform and AirPlus Virtual Cards, businesses can automate and gain control of their tail spend. Additionally, our joint customers will see massive process improvements which will lead to cost savings.”
Long-tail spend typically accounts for 20% of spend but for 80% of all transactions and suppliers. Purchases in the long-tail are primarily low volume with a broad range of suppliers. Many one-time suppliers or infrequent purchases challenge processes in procurement and finance to manage the inevitable administrative burden of creating purchase orders, handling approvals, onboarding suppliers, processing invoices and making payments for the long-tail. The smarter management of these overheads is the source of a large savings potential by lowering cost of invoice handling and onboarding and managing suppliers.
About AirPlus International:
AirPlus International is a leading international provider of solutions in the corporate payment segment. 49,000 corporate customers rely on AirPlus when it comes to paying for and analyzing their business travel and other purchasing activities. The company’s products and services are marketed worldwide under the AirPlus International brand. AirPlus is an issuer under the UATP and Mastercard card schemes. The AirPlus company account is the most successful billing account within the UATP. For more information, please visit www.airplus.com.
Mazepay is a Nordic fintech founded with the purpose of helping companies automate and simplify their long-tail spend. We bring innovative technology to enable seamless B2B procurement processes and payments for both buyers and suppliers. Mazepay is taken to market together with leading commercial banks and is a global partner of Mastercard. For more information, please visit www.mazepay.com.