Mastercard & BRD – Groupe Société Générale take the lead on Mastercard Trade Solution powered by Octet Europe in Romania

Bucharest, 30 July 2020.

Mastercard Romania and BRD – Groupe Société Générale announce the local implementation of the Octet platform, launched by Mastercard earlier this summer under the name Mastercard Trade Solution powered by Octet Europe, and dedicated to small and medium-sized enterprises (SMEs). BRD – Groupe Société Générale thus becomes the first bank in Europe to implement the new service, with multiple benefits for its customers, locally. The Octet platform helps SMEs to expand their business globally, guaranteeing payment security, managing cash flows and thereby supporting SMEs, an extremely important and severely affected economic sector during this period.

Through a partnership with Mastercard and Octet Europe, BRD – Groupe Société Générale will offer entrepreneurs the new solution to support them in the development of their businesses. BRD customers can register online, and after a verification process, they can receive access to the Octet platform. Companies then have access to the benefits of participating in the platform, where they will interact with their business partners in a structured and safer environment in the face of the risks of commercial fraud. BRD customers also receive a discount on the standard fee for payments made with the BRD Business Mastercard card on the Octet platform as a result of the partnership between BRD, Mastercard and Octet Europe.

Mastercard and Octet

Mastercard Trade Solution

“The platform was designed to simplify the work of entrepreneurs, giving them the opportunity to have control and visibility over the B2B transactions performed. We are pleased that, through the partnership with BRD, entrepreneurs in Romania will be the first in Europe to be able to access the benefits of the solution, in order to exploit their business potential, at a time when we are facing new challenges and we need to find sustainable solutions. And digitalisation is one of those,” says Cosmin Vladimirescu, Country Manager Mastercard România & Croatia.

Mastercard, Octet Europe and BRD Groupe Société Générale

“The Partnership with Mastercard and Octet Europe helps small companies to be more efficient with their own resources in high safety conditions. We are pleased that we can offer, for the first time in Romania, such a service to our customers, adding even more value to our approach to supporting the new generation of entrepreneurs in Romania”, said Radu Topliceanu, Deputy Genearal Director BRD Groupe Société Générale, responsible for Retail activities.

SMEs can use their Mastercard cards as effective cash flow management and payment tools for business development, enjoying the advantages of using a business card. The Octet platform uses the advantages of Mastercard technology for payment services. It also gives companies greater flexibility in choosing how they trade. Specifically, buyers have the choice to pay with the card, even if the provider does not process card payments, while sellers can accept payments in their bank accounts, regardless of how the buyer chooses to pay.