An Original Credit Transaction (OCT) is a financial transaction that delivers funds directly to a recipient’s eligible account. Unlike a purchase transaction, which debits a cardholder’s account, an OCT credits the cardholder’s account.
The funds flow in a different direction than in typical card transaction. A full financial BIN is required and the liability to pay lies with the acquirer. Once the issuer accepts the transaction the transaction is completed and funds are pulled from the acquirer in the next settlement window. There are no reversals or chargebacks that can be originated by the acquirer.
Original Credit Transactions can be used for a variety of services:
- Money Transfers
- Funds Disbursem*nts
- Prepaid Loads
- Merchant Settlements
- Credit Card Bill Payments
- Loyalty and Offers
- Wallet Transfers
For instructions on creating report subscriptions and generating these reports, see Chapter2, "Creating and Accessing Downloadable Reports.".
| Report Name | Description |
|---|---|
| Acquirer Detail Report | Provides a detailed listing of allOCT transactions. |
| Acquirer Exception DetailReport | Provides exception transactions forone processing day. |
| Acquirer Chargeback DetailReport | Provides chargebacks and chargebackreversal transactions received by the acquirer during the processingday. |
| Acquirer Reconciliation SummaryReport | Provides a summary of total OCTtransactions and total amount processed. |
