Dec. 5, 2023, Toronto, Repost from Jeeves -- Jeeves (tryjeeves.com), the groundbreaking global financial technology platform, and Mastercard, a global technology company in the payments industry, are proud to announce their collaboration aimed at enrolling and empowering tens of thousands of Canadian businesses by 2025, with an ongoing commitment to onboarding more businesses after this milestone is achieved. By combining Jeeves' cutting-edge technology with Mastercard's extensive experience in payment solutions, this collaboration will redefine the way Canadian businesses manage their finances with global purchasing power and a seamless and innovative platform that addresses the needs of the modern, global business landscape.
This strategic collaboration underscores the mission to revolutionize the payments landscape and highlights their shared commitment to embracing and empowering the diversity of Canadian business owners and entrepreneurs.
"At Jeeves, we believe in the power of diversity and its ability to drive innovation and growth. Our partnership with Mastercard solidifies our commitment to empowering Canadian businesses and supporting the dreams of diverse business owners and entrepreneurs," said William Lam, General Manager of North America at Jeeves." We aim to provide the tools and resources necessary for tens of thousands of Canadian businesses to flourish and achieve their full potential."
"Mastercard has a long and proud history of supporting entrepreneurs and businesses in Canada," said Darrell MacMullin, Senior Vice President, Product and Platforms at Mastercard in Canada. "As businesses continue to evolve in today's digital age, our partnership with Jeeves will harness the power of its platform and Mastercard's global network, to provide businesses across Canada with the financial tools and resources they need to succeed, regardless of their size or background."
Strengthened by this strategic collaboration, Jeeves and Mastercard will provide Canadian businesses with a comprehensive suite of enhanced platform products and features, designed to foster success and enable growth. These include:
Corporate Cards: Issue and send unlimited physical and virtual cards for local and remote teams with built-in spend controls - all for free.
Free Multi-Currency Accounts: Hold, send, and receive funds in multi-currency and local currency IBAN accounts.
Cross-Border Payments: Pay vendors across 150+ countries in local currencies with multi-language invoice scanning technology (available in English, French, Portuguese, and Spanish) for hassle-free transactions.
Real-Time Spend Monitoring: Keep track of company-wide expenses in real time and organize your team based on departments, locations, and user access roles.
Exclusive Rewards: Earn up to 1% in uncapped cashback on Jeeves Card spend, receive global airport lounge access when purchasing airfare on Jeeves Cards, and more.
The partnerships between Jeeves and Mastercard started in 2021 from Mexico. Mexico is one of the fastest-growing economies in the world, yet its local businesses still struggle to access credit without exorbitant fees and tedious paperwork. Mastercard, the world’s leading payments company, and Jeeves, the preferred financial partner for Mexican businesses, have partnered together to solve this issue by launching the first physical card that allows companies to pay in any local currency from all countries Mastercard currently operates.
Earlier this month, Jeeves annouced partnership with Bexs Group to launch a fully digital platform for cross-border business payments out of Brazil. With the collaboration, Jeeves makes it easier for businesses operating out of Brazil to make B2B payments in U.S. dollars and other currencies, Jeeves CEO and founder Dileep Thazhmon posted on LinkedIn. Jeeves provides fully digital settling on both sides, quick payouts and convenience via its expense management platform.
“Payments out of Latin America is a complex and regulated process (especially to deliver it in USD), and we’re happy to partner with Bexs Group to deliver this much-needed product offering,” Thazhmon said. The fully digital self-service cross-border B2B payment platform enabled by this partnership aims to eliminate the manual processes traditionally associated with sending money from Brazil to global destinations like the U.S. or Europe. The platform allows transactions to be executed digitally within 24 hours, ensuring compliance with the Central Bank of Brazil’s security standards.
The platform integrates with Bexs’ FX-as-a-Service solution, enabling international transactions to be conducted entirely digitally. Bexs CEO Luiz Henrique Didier Jr. said: “We are using technology to offer the best to Brazilian companies, with digital solutions that ensure seamless transactions and optimize processes, while mitigating the bottlenecks that can impact the course of their activities.”
One of the advantages of this platform is the competitive foreign exchange (FX) rates it offers. This not only speeds up fund transfers but also optimizes margins on transactions.
Jeeves has served startups and early-stage companies in Brazil since entering the market in 2022 and now aims to target medium- and large-sized companies as well.
Jeeves is a groundbreaking financial operating system for global businesses that provides comprehensive financial solutions, including credit and customer-funded wallets for corporate cards and cross-border payments. Jeeves now operates across 20+ countries including Canada, the United States, the United Kingdom, Mexico, Colombia, Chile, Brazil, and Europe. With a mission to empower businesses worldwide, Jeeves combines cutting-edge technology with exceptional expertise to transform the financial landscape.