Mastercard provides trade solution for SMEs through new collaboration

SMEs are accounting for 2/3 of jobs in most countries

trade solution

Mastercard provides trade solution for SMEs through new collaboration. Source: shutterstock.com

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

With the Mastercard Trade Solution, SMEs can grow their business by managing any business transaction in a safe, real-time, and more efficient way.

International tradeis a key driver of many SMEs’ performance and competitiveness. Source: newsroom.mastercard.com

Powered by Octet, the new solution simplifies domestic and cross-border trade by enabling a reliable value chain, secure payments, and management of cash flows.

Along with that, the tool helps small business owners manage to track, validate, and authorize every step of a business transaction. They can also settle B2B purchases using cards with full visibility of all supporting trade documentation.

Small business owners can incur a lot of expenses by running detailed background checks on their supply chain, especially if it involves cross-border suppliers. This in turn can limit their willingness and ability to grow their business internationally. The Mastercard Trade Solution powered by Octet will help the vital SME sector thrive in the global economy by unlocking their potential with flexibility, confidence, and peace of mind. At Mastercard, we are committed to remaining the partner of choice for businesses of all sizes and to powering economies
Milan Gauder, Executive Vice President of Product and Innovation at Mastercard Europe 

We’ve reported that Mastercard has found that US e-commerce made up 22% of all retail sales in April and May, compared to 11% in 2019. The Americans are estimated to have spent more money online over that period than the last 12 Cyber Mondays combined.

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