Mastercard just teamed up with Octet Türkiye to shake up how businesses handle money across the Middle East and Africa. The two companies want to solve major headaches that firms face when paying bills and managing cash flow. Their new system will let companies process all kinds of business deals using credit cards instead of cash. Digital payments between businesses are expected to double from 2023 to 2028 according to market research. This partnership aims to grab a piece of that growing action.
The fresh solution uses Octet Türkiye's skills in helping companies trade and handle corporate credit cards. Businesses can spread their payments over time like regular shoppers do with installments. Sellers still receive their money right away even when buyers pay later. Companies get more wiggle room with their finances without needing traditional bank loans. The system works with any bank's credit cards that businesses already use.
Mastercard's regional development chief Mete Guney believes corporate payments offer huge chances for new ideas. He thinks smart partnerships can create better ways for companies to move money around. Octet Türkiye's co-founder Can Saydam points out that Turkish businesses have used installment payments for years. He says companies everywhere need better ways to manage their cash as the world goes digital. The partnership will bring this payment flexibility to business deals across the entire region.
The fresh solution uses Octet Türkiye's skills in helping companies trade and handle corporate credit cards. Businesses can spread their payments over time like regular shoppers do with installments. Sellers still receive their money right away even when buyers pay later. Companies get more wiggle room with their finances without needing traditional bank loans. The system works with any bank's credit cards that businesses already use.
Mastercard's regional development chief Mete Guney believes corporate payments offer huge chances for new ideas. He thinks smart partnerships can create better ways for companies to move money around. Octet Türkiye's co-founder Can Saydam points out that Turkish businesses have used installment payments for years. He says companies everywhere need better ways to manage their cash as the world goes digital. The partnership will bring this payment flexibility to business deals across the entire region.
