Original Credit Transfer.
OCT (Original Credit Transfer) is an innovative payment system for fast and convenient fund transfers to over a billion eligible Visa, Mastercard or Maestro cards.
Truevo facilitates OCTs by utilising the push payment capabilities of the Visa OCT and Mastercard MoneySend services.
Benefits of OCT
Uses of OCT
The OCT solution is cheaper, faster, more convenient and more traceable than traditional payment methods. It facilitates payments and transfers such as:
- Fund disbursements by e-commerce marketplaces
- Government disbursements (such as VAT refunds)
- Affiliate and contractor payouts
- Expense reimbursements
- Corporate and manufacturing rebates
- Insurance claims