Frictionless Payment Collection with Octet DBS
Octet Direct Debit System (DBS), provides the opportunity to secure your collections by working with multiple banks through a single agreement signed with Octet. In other words, with Octet DBS you have a safe and practical cash flow management that enables automatic collections. Accordingly, your Buyers have the chance to make transactions with multiple banks.
You do not have to check DBS limits in the system of each bank to process digital payment collections. Octet inquiries limits through all the banks for you on a single portal and detects the payment status of the related customers or dealers.
The collections are made through DBS limits of the contracted banks, so you will not have any problems with your Buyers due to unpaid invoices. Your customers and dealers do not have to put in any extra effort on payment follow-ups.
Step by Step DBS
The Seller uploads the invoices to receive payment on Octet Portal.
Octet informs the banks about the invoice details and receives information on DBS limits.
Approval is obtained from the bank of the customer whose DBS limit is qualified and payment confirmation is sent to the Seller.
The bank makes the payment to Octet on DBS due date. Octet transfers the payment to the bank account of the Seller on the next business day.
The Buyer makes payment on DBS due date to the bank.