SAN FRANCISCO MasterCard International has introduced a Web-based ratings system for business-to-business marketplaces.
The system, called MasterSource, is intended to foster trust between buyers and sellers and to encourage companies to use MasterCard commercial payment cards. Businesses that use these cards get free access to the system, and others must pay.
MasterSource uses software developed by Open Ratings and Dun & Bradstreet, called Buyer Insight, which gives detailed information about supplier performance. The system can also be used to compare current trading partners with other merchants within a specified supplier base.
If buyers can access reliable information about potential trading partners, their confidence levels will increase, said Steve Abrams, senior vice president at MasterCard.