MasterCard has announced that public sector agencies in the UK can use its electronic payment solutions for their procurement activities under the Office of Government Commerce (OGC) Framework Agreement.
Reportedly, under the new framework announced by the OGC, MasterCard solutions such as the MasterCard Purchasing Card, MasterCard SmartData Online and MasterCard inControl can be made available to the 3,300 national, regional and local public sector bodies in the UK through financial institutions AirPlus, Barclays, JP Morgan and RBS Group.
According to the MasterCard, the 44,000 disparate buying units across the UK public sector will also be able to use its payment solutions as tools to streamline and improve their purchase-to-pay processes.
Hany Fam, general manager, MasterCard UK & Ireland, said: “MasterCard electronic payment solutions will enable public sector agencies across the UK to reap real bottom-line savings by realising back-office efficiencies, accelerate payments to meet the 10-day payment target and tap into improved liquidity. We are highly confident that the MasterCard platform provides a solution which meets the UK public sector strategic requirements for scalability, security and flexibility through internationally acknowledged best of breed tools.”
Brian Lang, vice president, commercial products, MasterCard Europe, said: “We are proud to be able to extend our value adding payment services to public sector agencies throughout the UK, thereby also benefiting their constituents, and we are committed to continuously make the buying process more efficient and more accountable.”
