Syncada - A Global Financial Supply Chain Network
Connecting buyers, sellers, and banks across an integrated and
- Visa and U.S. Bank have formed a joint venture named Syncada, a global payment network that delivers a proven integrated invoice processing, payment and financing platform for financial institutions to offer to their corporate and government commercial clients around the world.
- Syncada is unique in that it combines Visa’s proven experience in delivering commercial payment services to financial institutions and managing a multi-bank network, with U.S. Bank's Powertrack, an automated B2B e-invoicing, payment processing and trade finance network.
Syncada extends the vision of both Visa and U.S. Bank to provide businesses and governments with a more efficient way to pay and be paid by replacing inefficient, paper-based B2B processes with an integrated, fully electronic financial supply chain platform.
Financial institutions can become network sponsor banks and offer this comprehensive solution to their corporate clients. To learn more about Syncada and become a network sponsor in this global network, speak with a Syncada representative.
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A global financial supply chain network
Syncada is supported by Visa’s experience in building relationships with and managing a network of financial institutions across the world. Through this global financial supply chain network, Syncada will allow financial institutions of all sizes to offer their commercial clients standardized B2B invoice processing, financing and payment services across a variety of payment types and currencies.
Invoice processing and payment
Syncada provides a single, global standard for invoice processing with language and translation support for 21 languages across the world. Buyers and suppliers choose the method of payment most appropriate for their business needs and Syncada provides seamless processing of the invoice and payment. Syncada is capable of processing all payment types including cards.
Efficiency, visibility and control
Converting invoices and supporting trade documents from paper to electronic can increase accuracy, reduce billing and payment errors and provide increased spend visibility of participants’ cash management needs, thereby decreasing costs and increasing Syncada participant’s control over their global supply chain.
Syncada’s global platform can increase spend visibility and control allowing cost savings to be more easily identified and realized across participants’ global supply chain. Eliminating costly paper processes, reducing billing and payment errors and increasing spend visibility by spend category can all lead to greater cost saving opportunities for Syncada’s participating buyers and suppliers.
Who to contact to take action
For more information and to discuss how Syncada can help drive greater efficiency and cost savings across your commercial clients’ global supply chain contact a Syncada or Visa's Commercial Solutions Global Sales Organization representatives.
For customer service and more information from Visa, contact Commercial Solutions Global Sales.