Offline Card Transaction

It is a type of transaction when the person uses a credit/debit card in order to transfer money to the trader’s account from the checking via credit card processing network. When the customer wants to pay for goods/services he/she can usually choose from two types of payment: an offline transaction across a digital credit card network or online via EFT system. The fee for such transaction is charged from the trader and is around 2-3% of the sum of the purchase.

The main advantage of OCT is that the payment can be conducted even if the customer doesn’t have connectivity or the Internet goes down. Nevertheless, it also has disadvantages among them the fact that the customer must take on the danger of any expired, denied, or disputed payments. The OCTs are addressed for approval and securely eliminated from the mobile device as soon as it is back online.

Some examples:

My phone has no Wi-Fi connection probably I have to proceed to the OCT.

We can use an offline transaction during the festival because I suppose the connection will be weak there.

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