Frequently Asked Questions
Octet Türkiye
Octet Türkiye
What is Octet and what services does it offer?
Octet is a financial technology platform that digitizes companies’ collection and payment processes. It offers solutions such as Virtual POS, the Direct Debit System (DDS), payment by link, partial payment, and dealer collection management. With Octet, businesses can manage all their collections and payments securely and quickly from a single platform.
How can I start using Octet?
The original, wet-signed Octet User Agreement signed by your company’s authorized signatories together with the other required company documents, is sent to Octet free of charge through Octet’s contracted courier company. Once the approval process is complete, you can start using the platform.
Which documents are required to apply?
The documents required vary depending on your company type, as listed below (documents marked with * are mandatory).
- Sole proprietorships
– Copy/photo of the front and back of the authorized signatory’s ID card*
– Specimen signature declaration*
– Current tax registration certificate*
– Trade Registry Gazette
– Chamber of commerce registration certificate
– Other documents (for travel agencies, the Association of Turkish Travel Agencies TÜRSAB certificate; any other authorization or licensing documents required for the relevant sector) - Limited liability companies and joint stock companies
– Copies/photos of the front and back of the authorized signatories’ ID cards*
– Specimen signature declaration*
– Current tax registration certificate*
– Trade Registry Gazette*
– Current certificate of activity*
– Other documents (name, surname, phone number, and ID copies/photos of shareholders holding more than 25% of the shares; for travel agencies, the TÜRSAB certificate; for tourism facilities, the Tourism Operation Certificate issued by the Ministry of Tourism; any other authorization or licensing documents required for the relevant sector) - Associations and foundations
– Copies/photos of the front and back of the authorized signatories’ ID cards*
– Authorization document (association charter, foundation deed, or governorate permit)*
– Signature circular/declaration*
– Document showing the tax office, tax number, and address*
– Other documents (any authorization or licensing documents required for the relevant sector) - Site and building (apartment) management
– Copies/photos of the front and back of the authorized signatories’ ID cards*
– Authorization document*
– Signature circular/declaration*
– Document showing the tax office, tax number, and address*
– Other documents (name, surname, phone number, and ID copies/photos of the site management’s authorized persons; any authorization or licensing documents required for the relevant sector)
Is Octet designed for individual users or for companies?
Octet’s solutions are designed for companies that operate on a B2B basis.
Does Octet help companies with e-commerce?
With the Octet Platform, you can process instalment transactions across all bank and card systems. You can collect payments through Virtual POS without needing to integrate separately with each bank, and through an API integration on your own website, you can easily manage your e-commerce collections via Octet.
How do I become a member?
You can click the Apply button on our website, select whether you are applying as a Buyer or a Seller, and complete the application form. If you apply as a Seller, our operations team will contact you with information about the required documents.
Octet carefully stores all information and documents your company submits during registration, the log of your commercial transactions, and all information and documents provided during registration or transactions, in line with the high security standards set by the Banking Regulation and Supervision Agency (BRSA).
Do I need to install anything on my computer or download an app on my phone to use the Octet Platform?
No. You do not need to install any software or download a mobile app to use the Octet Platform. A device with an internet connection is all you need to carry out your collections with ease.
Does Octet provide financial loans to companies?
No, Octet does not provide financial loans directly to companies. Octet is an online platform for commercial transactions, collections, and payments, open to all types of companies, from sole proprietorships to large firms with extensive dealer networks.
That said, the transparent commercial activity and transaction history that companies build up on the Octet Platform can serve as a valuable form of collateral when they apply for credit elsewhere. Octet also gives you round-the-clock access to the products and services offered by banks, helping you avoid missing any sales or business opportunity. By making it easier for members to carry out their payments and collections, the Octet Platform reduces their need for financial credit.
Which payment methods can be used on the Octet Platform?
All credit cards and corporate/commercial credit cards, as well as all debit cards, can be used on the Octet Platform. Members can also carry out bank payment transactions such as EFT and wire transfers, and collect commercial invoice payments, 24/7. If a direct debit instruction is given, commercial credit limits held with banks can also function as a payment method. For international transactions, 19 alternative card payment methods are supported across 65 countries.
How do order and payment transactions work on the Octet Platform?
After entering the buyer’s details, the seller sends a payment request to the buyer by SMS and/or email. The buyer can view the request and pay using any of the options offered by the Octet Platform. Customers you collect from regularly can also become free members of the Octet Platform and, if they wish, save their card details in the digital wallet. They can then pay in a single instalment or in multiple instalments without re-entering their card details each time.
What should I do if I forget my password?
When you click the “Forgot Password” link, a temporary password is sent to your email address. After logging in to the Octet Platform with the temporary password, you will be asked to set a new password. Once you set a new password that meets the required standards, you can log in normally.
How is billing handled?
Octet charges a service fee for the payment service it provides. This fee, inclusive of BITT (Banking and Insurance Transaction Tax) at a previously agreed rate, is billed to you via a receipt.
How can I track the status of my transactions?
You can track a real-time summary of your transactions on the Octet Platform homepage. For more detail, you can view and manage these transactions in the Payments and Payment Links sections.
Collection Products
How does Octet simplify B2B collection processes?
Octet lets companies manage collections from their dealers, distributors, or customers through a single platform. Solutions such as payment by link, multiple collections, and the Direct Debit System (DDS) eliminate manual processes and make cash flow more predictable.
Can I collect payments using a payment link?
Yes. You can send a collection link to your customers by SMS or email to make it easier for them to pay. This method lets you collect payment anytime, anywhere, and minimizes the data-sharing risks associated with Mail Order or physical POS collections.
How can Octet be used to collect payments in bulk from dealers and sub-dealers?
The Octet Platform lets you manage the cash and collection flows of your company, dealers, and sub-dealers from a central location. You can give dealers access to the platform so they can make their collections by credit card, and track the outstanding balances of your dealer network while sending payment reminders.
Is partial (split) payment possible?
Yes. Customers using the Octet Platform can split a single payment across different credit cards. If one card does not have a sufficient limit, they can pay using more than one card, taking advantage of different and multiple instalment options in the process.
Virtual POS
How does Octet Virtual POS work?
Octet Virtual POS lets companies collect payments online without needing a physical POS device. Customers can pay securely without downloading or installing any application, and all transactions can be tracked from a single panel.
What are my advantages as a Buyer on the Octet Platform?
- The option to pay in instalments
- The opportunity to earn points or air miles on your credit card
- The ability to set your own payment terms
- Making payments through methods such as Mail Order without sharing card or personal details
- Access to additional working-capital financing through your credit card, offering faster, more advantageous, and more economical payment than a commercial loan
- Easy management of procurement transactions and commercial documents through an online transaction flow
- The ability to make payments at a lower cost than other financing methods
What are my advantages as a Seller on the Octet Platform?
- Access to different collection solutions Virtual POS, cash collection, DDS, and NFC all from a single screen
- The advantage of knowing your collection dates with certainty
- The ability to collect payments regardless of location or time
- The peace of mind of being confident in your customer’s commercial reliability
- Easy management of online sales and collections through the platform
- The advantage of tracking your accounts through detailed reporting and easy integration
- The convenience of selling on open-account terms without the hassle of tracking postdated checks and promissory notes
- The ability to sell by credit card without needing a physical POS device
- The confidence of uninterrupted collections by offering customers a wide range of payment options
My credit card limit is full. How can I continue my transactions?
If your credit card limit is full, you can apply to your bank to request an additional limit for use on the Octet Platform.
Can I use Octet's Virtual POS to sell online without setting up a website?
Yes. As an Octet Platform member, you can collect payments through Octet’s Virtual POS solutions without needing a website, and take advantage of instalment options tailored to each credit card. This means you do not need to make separate agreements with every bank to carry out sales and collection transactions with your dealers and customers. You can also view and manage your sales reports quickly through the Octet Platform.
In credit card collections, which party is responsible for the deferred payment charge arising from instalments?
Octet gives you the flexibility to decide how the deferred payment charge on instalment purchases is settled. Depending on the arrangement, this charge can be paid by the Buyer, by the Seller, or split between both parties. These terms can vary based on the agreement between the buyer and the seller, and the Octet Platform supports all of these options.
How much are the transaction fees?
Membership on the Octet Platform is free, and there is no standard fee schedule for transactions. The service fee is determined by mutual agreement, based on the transaction volume the Buyer and Seller generate on the platform. You can get in touch with our Octet sales specialists to work out the pricing and rates best suited to your business.
DDS (Direct Debit System)
What is Octet's DDS solution and how does it work?
Octet’s Direct Debit System (DDS) lets companies collect regular, automatic payments from their dealers. Dealer payments are transferred directly to the company account through partner banks, which reduces collection risk and secures cash flow. With Octet DDS, a single agreement lets you work with multiple banks, and your buyers can choose to use whichever bank they prefer.
Supplier Finance System (SFS)
What is Octet's Supplier Finance System and how does it work?
Octet’s Supplier Finance System is a solution through which buyer companies offer their suppliers a bank guarantee on approved invoices, provided through a bank. The supplier can then collect payment on this guaranteed invoice from the bank before its due date, at a favorable cost, which secures the supplier’s cash flow.
How can I benefit from this system as a supplier?
As the supplier of a buyer registered on the Octet platform, you can generate cash flow on the same day, without waiting for the invoice due date, through Octet’s Supplier Finance System. This reduces collection risk and meets your liquidity needs flexibly, at a favorable financing cost.
How can I benefit from this system as a buyer company?
With Octet’s Supplier Finance System, buyer companies gain flexibility in their payment terms, strengthen their supply chain, and increase their purchasing capacity.
Do I need a credit limit at the bank as a supplier?
No. The supplier finance limit is allocated to the buyer company, and the supplier accesses financing within the limits assigned to that buyer. This means the supplier does not need to hold a separate credit limit at the bank.
Who bears the financing cost?
The financing cost is generally borne by the supplier, who takes on this cost in exchange for early collection. In most cases, however, this cost is lower than the supplier’s own borrowing cost would be.
Is collateral required from the supplier?
No. Octet’s Supplier Finance System operates based on the buyer company’s creditworthiness, so no additional collateral is requested from the supplier. Suppliers join the system simply by presenting their approved invoices.
Do I have to work with only one bank?
No. Through the Octet platform, you can work with more than one partner bank. As a buyer, you can manage all your bank limits from a single panel, and increase financial flexibility by offering your suppliers a choice of different banks.
How does a supplier determine the most favorable financing cost?
Thanks to Octet’s transparent infrastructure, suppliers can view the current offers and interest rates of all the banks where the buyer holds a limit for invoices uploaded to the system on a single screen. This lets them choose the most advantageous bank for their needs and start the transaction within seconds.
How long does the operational process take?
Octet eliminates manual workload. Once invoices are uploaded to the system, pricing becomes visible; once the supplier approves an offer, the payment process is initiated digitally. Transactions are typically completed within the same day.
Can Octet's Supplier Finance System integrate with my ERP system?
Yes. Octet can be integrated with companies’ existing ERP (accounting) systems. Automatic invoice transfer and the matching of accounting records mean finance teams do not need to enter data manually, which significantly reduces the margin for error.
Integration and Technology
Can Octet integrate with existing accounting software?
Yes. Octet can be integrated with the accounting and ERP systems companies already use. This means collections are recorded automatically, manual data entry is no longer needed, and operational workload is reduced.
Can I connect my own POS device to the Octet system?
Yes. If you want to use your own POS device, it can easily be integrated with the Octet Platform’s Virtual POS. This lets you easily collect credit card payments from your dealers, sub-dealers, and sub-dealer customers.
Can Octet be used on mobile devices?
Yes. The Octet Platform can be accessed from both computers and mobile devices, so companies can easily track their collections and payments from wherever they are.
Security
Are payments made through Octet secure?
Yes, absolutely. Octet operates in full compliance with all local and international security standards.
What security standards does Octet use?
Octet is licensed by the Central Bank of the Republic of Türkiye (CBRT), supports 3D Secure, and holds PCI-DSS Level 1 certification. It applies registered security procedures, operates a customer identification policy, and provides full protection against fraud.
