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Octet signs with MasterCard on global supplier payments

Monday 19 December 2016 | 12:38 PM CET

Octet Finance, a supply chain finance industry provider, has forged an alliance with MasterCard to enable businesses to pay global suppliers.

The alliance will enable MasterCard’s members to offer their B2B clients the ability to make cross-border supplier payments using their existing MasterCard debit and credit cards.

According to Octet, users will benefit from the integration of MasterCard’s payment offerings, such as the MasterCard Payment Gateway Services (MPGS) and the configurable Virtual Card Number (VCN) feature, on the Octet platform.

The alliance with Octet and with MasterCard enables global suppliers to be reimbursed by domestic buyers within the same business day.

The Octet Finance supply chain technology platform enables payments to be made through the MasterCard Payment Gateway Services, facilitating the e-commerce transaction with all parties including the buyer, seller, and their respective financial institution.

The alliance with MasterCard follows a recently announced partnership between Octet and the Westpac Banking Group to launch Business Link, an Octet-enabled supply chain management platform.

More: Link