New Service Disrupts Global Credit Industry, Accelerates Global B2B Commerce
OVERLAND PARK, Kansas — May 7, 2018 — MSTS, a global B2B payment and credit solutions provider, today introduced Credit as a Service® (CaaS). The innovative solution is a suite of applications and services that enable companies to access robust payment and credit solutions, sophisticated managed services and smart integrations to power global commerce.
CaaS was born from 40 years of experience providing payment and credit management solutions to manufacturing, transportation, retail and eCommerce companies. As a single, omnichannel solution, CaaS enables B2B companies to drive sales, reduce A/R costs, mitigate risk and enhance the customer experience. CaaS streamlines complexities that exist between B2B buyers and sellers by providing dynamic pricing and automated purchase controls to deliver a superior experience for buyers.
“There is no seamless, end-to-end payment and credit management solution for B2B companies, and trying to create a system internally is often cost prohibitive,” said Brandon Spear, President of MSTS. “With CaaS, we are transforming the way businesses facilitate and manage terms-based transactions. Buyers want to access a line of credit because it allows them to manage their cash flow. Meanwhile, sellers want to offer credit because it increases loyalty and drives a larger share of their customer’s wallet. We’re helping businesses grow by making purchases simple and easy.”
The globalization of business has added an additional layer of complexity for those companies seeking to expand into other countries. Increased compliance scrutiny, complex regulations, local requirements, foreign exchange, language, and business culture create challenges for any company attempting to engage in global commerce. Cross-currency transactions, in and of themselves, can create problems in credit systems and back-office systems. CaaS was expressly developed to remove these obstacles and provide a uniform, global system that successfully navigates the complex patchwork of country-specific policies, languages, currencies and regulatory requirements when sending and receiving payments between countries.
MSTS, a wholly-owned subsidiary of World Fuel Services Corporation, is a global B2B payment and credit solutions provider that specializes in commercial transaction management. MSTS facilitates transactions for its customers in over 190 countries and territories. MSTS provides underwriting in 52 countries and has 40 years of experience underwriting businesses for credit. MSTS has a long history of creating and supporting closed-loop commercial billing and payment programs that include both proprietary, branded card products and white-labeled, net-pay and pre-paid card programs in many industries around the world.