Mastercard, Octet Europe offer new trade solution across EEA

Monday 15 June 2020 09:07 CET | News

Mastercard and Octet Europe have announced the launch of a new trade solution across the European Economic Area (EEA). 

The Mastercard Trade Solution powered by Octet Europe aims to help small and medium-sized enterprises (SMEs) grow their business by managing any business transaction in a safe, real time, and more efficient way. The solution facilitates domestic and cross-border trade by enabling a trusted value chain, secure payments, management of cash flows, and simplifying back office functions thereby supporting economies globally by powering the vital SME sector.

The Mastercard Trade Solution is directly accessible and encompasses Octet Europe’s state-of-the-art, cloud based B2B trade platform, which thoroughly reviews each company in its network. This means that all members transacting on the Octet platform are extensively verified via AML, KYC, counter terrorism financing (CTF), and economic trade sanctions (ETS) processes to reduce the risk for all parties in the network. 

In addition, the new trade solution enables SMEs to use their Mastercard cards as powerful tools to manage their cash flows and pay any suppliers to grow their business, while enjoying their card benefits and reward points. Mastercard Trade Solution and Octet Europe are able to leverage Mastercard for payment services. The platform provides flexibility on the preferred payment method for businesses.  

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Keywords: MasterCard, Octet Europe, Europe, small businesses, global economy, AML, KYC, CTF, ETS, trade, B2B, cross border, risks, cash flow, payments
Categories: Payments & Commerce
Countries: Europe
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Payments & Commerce

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