{"id":6668,"date":"2020-01-17T12:38:48","date_gmt":"2020-01-17T12:38:48","guid":{"rendered":"https:\/\/qa-front.dev.techhub.cloud\/blog\/?page_id=2885"},"modified":"2024-04-18T09:39:42","modified_gmt":"2024-04-18T09:39:42","slug":"what-is-original-credit-transaction","status":"publish","type":"glossary","link":"https:\/\/paybis.com\/blog\/glossary\/what-is-original-credit-transaction\/","title":{"rendered":"Original Credit Transaction (OCT)"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">This short section will explain what is Original Credit Transaction and how it can benefit crypto enthusiasts around the world.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What is Original Credit Transaction (OCT)?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">OCT is a payment method that allows the direct transfer of funds to credit card users around the world.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How does OCT work?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">By using the <\/span><a href=\"https:\/\/www.repay.com\/push-payments-why-lenders-need-them\/\"><span style=\"font-weight: 400;\">push payment<\/span><\/a><span style=\"font-weight: 400;\"> features of Visa OCT and MasterCard MoneySend services, cardholders can directly receive funds on the account linked to their credit card.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unlike bank transfers, these transactions are very fast, and users can receive refunds from merchants or government entities almost instantly.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, OCT transfers are global and most merchants can send you payments or refunds almost anywhere in the world.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How can crypto enthusiasts benefit from OCT?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There are multiple benefits for crypto enthusiasts using credit card payouts when selling their Bitcoin:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Reduced wait times<\/b><span style=\"font-weight: 400;\"> &#8211; instead of transferring your crypto into a bank account that can take up to 5 working days, you can receive your funds almost instantly.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Keep your privacy<\/b><span style=\"font-weight: 400;\"> by not linking your bank account to your cryptocurrency dealings.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Spend your crypto directly from your credit card.\u00a0<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">Where can I sell my BTC using OCT?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Paybis supports OCT credit card transfers on the exchange.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s a short guide on <a href=\"https:\/\/paybis.com\/sell-bitcoin\/\">how to sell your Bitcoin using OCT<\/a><\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<ol>\n<li>Enter the amount of Bitcoin you want to sell<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">And press on \u201cSELL BITCOIN\u201d.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In the next panel, complete the KYC process and tick the two boxes to continue.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Authorize your bank card.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Complete your Bitcoin payment<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">When the system has processed your payment, you should receive your funds on your card.<\/span><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>OCT is a payment method that allows the direct transfer of funds to credit card users around the world.\u00a0<\/p>\n","protected":false},"featured_media":0,"template":"","glossary_letter":[298],"glossary_term":[276,277],"class_list":["post-6668","glossary","type-glossary","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Original Credit Transaction and how does it work? - Paybis Blog<\/title>\n<meta name=\"description\" content=\"A new transaction method more commonly known as OCT has taken over the market. 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