In order to help vertical software-as-a-service (SaaS) platform providers integrate modern card processing functionality, Mastercard and Unipaas partnered.

The alliance aims to automate and streamline transactions in industries where digital payments are still underrepresented, such as professional training, field services, education, and health services, the firms stated in a news statement on Thursday, April 3.

David Avgi, the founder and CEO of Unipaas, stated in a news release that many [SMBs] using vertical SaaS platforms still utilize manual, offline payment methods, which leads to inefficiencies, poor user experiences, and lost income opportunities. Their partnership with Mastercard aims to rectify that.

By incorporating modern card processing capabilities into the platforms used by these SMBs, the release states it will help providers help their platform users transition from manual invoicing and bank transfers to card-based payments, boost acceptance rates and transaction speeds, reduce operational complexity and overhead, and offer more convenient, secure, and user-friendly payment options.

The agreement, according to the release, integrates Unipaas' fully integrated, compliant payment infrastructure with Mastercard's global payment network and fraud protection.

George Simon, executive vice president of market development at Mastercard, said in the press release that by leveraging their extensive global network and state-of-the-art fraud protection, they are assisting [SMBs] using SaaS platforms to enhance their payment experiences, boost acceptance rates, and create new opportunities. Together with Unipaas, they are making it possible for [SMBs] to leverage software providers to build their businesses and scale their operations with confidence.

Jennifer Marriner, senior vice president of global acceptance solutions at Mastercard, told PYMNTS in a July interview that integrated finance streamlines and improves the user experience while making payments simple and accessible.