Mastercard and Octet Türkiye have collaborated to address the cash management and instalment payment needs of businesses in the Middle East and North Africa (MENA) region.

Digital transactions on the rise

According to Statista, the number of digital B2B payments in the MENA region is expected to nearly double from 2023 to 2028. This solution aims to enhance digital transaction volumes by offering efficient alternatives to cash payments.

Through this partnership, Octet Türkiye’s expertise in trade facilitation and corporate credit card payments will be integrated with Mastercard’s services to enable businesses to make extended or instalment payments while allowing sellers to receive payment immediately upon invoicing.

Mastercard officials have stated their commitment to fostering smarter, more efficient payment solutions through collaborative efforts. The partnership with Octet Türkiye is designed to accelerate the adoption of digital transactions among businesses and provide them with greater financial flexibility.

The growing use of corporate credit cards allows businesses to extend payment terms without relying on traditional cash loans, enhancing their financial resilience. This collaboration will enable companies to utilize preferred bank credit cards for transactions while managing collections in a secure digital environment.

Representatives from Octet Türkiye have noted that instalment payments via credit cards have been prevalent for some time, regardless of the amount involved. As digitalization drives the push for cashless transactions, there is a global demand for effective liquidity management, making the instalment payment system crucial. Octet Türkiye is addressing this need in the B2B sector across the region.