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

The collaboration aims to introduce a solution for handling various corporate transactions, focusing on simplified card-based payments and collections.

Digital Transactions on the Rise

A Statista report indicates that digital B2B payments in the Middle East and Africa are expected to nearly double from 2023 to 2028. This development suggests a growing preference for electronic transactions, providing businesses with more efficient payment alternatives.

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

The introduction of corporate credit cards will allow businesses to extend their payment terms without relying on traditional cash loans, enhancing their financial resilience. This collaboration enables companies to use their preferred bank’s credit cards for various transactions while managing collections within a secure digital framework.

Octet Türkiye’s Role in Facilitating Instalment Payments

According to Octet Türkiye representatives, instalment payments using credit cards have been commonplace for some time. As the push towards cashless transactions intensifies, there is a significant demand for effective liquidity management systems, which makes installment payment systems crucial. Octet Türkiye plays a key role in meeting these needs across the business-to-business sector in the region.