Mastercard and Octet Türkiye have entered into a strategic partnership aimed at enhancing financial flexibility for businesses across the MENA region and accelerating the growth of digital transaction volumes. Through this collaboration, Octet Türkiye will expand beyond cash based payments to deliver more effective digital payment options, contributing to the advancement of digital commerce in the region.
As part of the partnership, the two companies will introduce a comprehensive digital platform designed to address the evolving cash management and commercial payment needs of businesses in MENA. The platform will enable secure and seamless payment and collection processes via credit cards, while also supporting Buy Now Pay Later solutions for various corporate transactions.
According to Statista, the number of digital B2B payments in the Middle East and Africa is expected to nearly double between 2023 and 2028. The innovative solution developed by Mastercard and Octet Türkiye aims to capture this growth by increasing digital transaction volumes while offering businesses installment based and deferred payment options. In addition, vendors will benefit from the ability to collect invoices instantly.
Mete Güney, Senior Vice President, Market Development, EEMEA at Mastercard, commented on the partnership:
“The commercial payments space presents significant opportunities for innovation. At Mastercard, we focus on leveraging the power of partnerships to deliver seamless payment solutions. Our collaboration with Octet Türkiye will support businesses in adopting digital payments and strengthen their purchasing power.”
With the growing adoption of corporate credit cards, businesses are increasingly able to extend payment terms without relying on traditional cash loans, thereby improving financial flexibility. This partnership will enable companies to make payments using credit cards issued by their preferred banks, while managing collections through a secure and efficient digital infrastructure.
Kazım Can Saydam, Co Founder and Chief Sales Officer of Octet Türkiye, added:
“In Türkiye, installment payments by credit card have long been a widespread practice, regardless of transaction size. Beyond the acceleration of cashless commerce driven by digitalization, the global need for effective liquidity management makes commercial card payments indispensable. Through our partnership with Mastercard, Octet Türkiye is ready to address this need within B2B processes across the region.”
This strategic alliance between Mastercard and Octet Türkiye is set to deliver innovative, reliable, and flexible digital payment solutions to businesses in the MENA region. By enhancing financial process management and enabling more effective working capital control, the partnership will help companies strengthen their competitive position and unlock new growth opportunities in regional markets.
