OCTO Merchant Loan Qorus-Infosys Finacle Banking Innovation Awards 2024

Access to financing is crucial for all MSMEs, particularly in a country where the majority of the economy is driven by them, such as Indonesia. Our OCTO Merchant application is designed to provide a complete journey from onboarding to receiving payments via QR, Application-based m-POS, with the goal of creating a circular economy and streamlining processes for MSMEs.

Indonesia has made great strides in promoting digital payments, particularly through QR-acceptance technology. The availability of e-wallets, e-money, and digital banking options has greatly improved financial inclusion for the population of Indonesia.

OCTO Merchant Loan is a loan solution for MSMEs to meet their working capital needs. With OCTO Merchant Loan, MSMEs can be offered revolving-based loans that can be withdrawn at any time digitally.

OCTO Merchant Loan provides MSMEs with a financing option to address their operational funding requirements. Through OCTO Merchant Loan, MSMEs have access to revolving credit facilities that can be conveniently accessed digitally whenever needed.

Small and medium enterprises (SMEs) are not required to submit an application in order to be considered for eligibility. The bank will assess their eligibility based on their transaction history from payments received at OCTO Merchant and other digital channels. As a result, customers are relieved from the burden of submitting income proof documents and extensive application information.

OCTO Merchant Loan is available on our digital platforms, OCTO Mobile and OCTO Clicks. This allows MSMEs to conveniently manage, monitor, and repay their loans through mobile and web interfaces. Additionally, OCTO Merchant Loan on OCTO Mobile and OCTO Clicks offers MSMEs access to payment functionalities and free banking services for their business requirements.