Basware is a vendor of electronic invoicing and purchase-to-pay software. The new e-payment service is based on the Basware Commerce Network, which links to the MasterCard global payment network and draws on MasterCard's suite of payments products. Basware chief executive officer Esa Tihilä said e-invoicing is evolving from a largely technical service to one that delivers significant commercial benefits to the business. Basware's Commerce Network processes more than 50 million invoices annually, totaling more than $420bn, the company said.

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