What is an Original Credit Transaction?
An Original Credit Transaction is a payment method which allows funds to be sent directly to a card account rather than charged from it. It is commonly used for payouts.
How does OCT differ from standard card payments?
Standard card payments pull funds from a cardholder. OCT pushes funds to the cardholder, making it suitable for refunds, disbursements, and transfers.
Where are OCTs used?
They are used for gig economy payouts, insurance claims, refunds, and marketplace settlements where fast payment to individuals is required.
What are examples of OCT services?
Visa Direct and Mastercard Send are widely used services enabling these transactions globally.
Why are OCTs valuable for businesses?
They enable fast payouts, improve customer satisfaction, and reduce reliance on slower bank transfer systems.