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Octet forms alliance with Mastercard to give businesses a better way to pay

Blog By Duncan Khoury – 20 December 2016

We are pleased to announce a newly formed alliance with global payments provider Mastercard. The alliance will enable our customers to pay global suppliers more safely, securely and quickly.

Octet members will now be able to use Mastercard’s cutting edge payment offerings, such as the Mastercard Payment Gateway Services (MPGS) and the configurable Virtual Card Number (VCN) feature, on the Octet platform to pay suppliers around the world.

Alongside this integrated feature from Mastercard, Octet members in Australia and New Zealand will be able to use existing card facilities linked to a Mastercard commercial credit or debit card, to pay suppliers.

This partnership is beneficial to Octet members not only for rewards such as frequent flyer miles, but also the security, efficiency, cost and speed offered by the Mastercard network. It will give businesses access to working capital benefits of up to 55 days interest-free, provided by the card issuer.

With Mastercard’s state-of-the-art capabilities, we have removed the friction from complex finance and often manual processes, while providing full transparency and visibility of transactions through the Octet supply chain finance management platform.

Our newly formed alliance is another step we’re taking towards replacing antiquated transaction and payment methods with a secure gateway to procure and fund business to business transactions no matter where the buyer and supplier are located.

By working together with Mastercard, Octet is well and truly at the heart of B2B commerce, enabling global suppliers to be reimbursed by domestic buyers the same business day. It’s all part of our goal to help businesses manage their supply chain in one place.

We’re looking forward to working with partners such as Mastercard in future to continue to build out the Octet platform for businesses on a global scale.