The company is teaming up with Microsoft (MSFT) to launch a new B2B platform called Mastercard Track.
"There are a lot of frictions in the current trading system," said Michael Froman Mastercard's president of strategic growth and former U.S. Trade Ambassador. "We've partnered with Microsoft, with a number of banks, a number of B2B networks to create a platform that will make it much easier, particualrly for small and medium sized businesses to become part of global supply chains, to manage risk of those supply chains and have a lot more visibility into the whole payments flow."
Froman said Mastercard's move is a long-term decision.
"Whatever's happening in the trade policy area, we need to do what we can to take friction out of the system," Froman said.