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Debit order goes paperless with electronic mandates

While sales are the muscles of a business, cash flow is the heart and lifeblood.

Good cash flow is not something that happens overnight. Which means it is left to the business owner to implement procedures within the business that will have positive and long-standing effects.

The debit order solution – GetCashFlow from Direct Debit gives businesses greater control over their cash flow and provides reliable solutions that speed up and simplify the payment collection process.

With an automated debit order collection system in place, you will no longer need to manually sign up clients, capture payment details and authorise or reconcile debit order payments as this is done automatically for you.

The automated debit order collection system is comprised of various elements, which includes the following:

Electronic debit order mandate

Direct Debit recently launched the industry’s first electronic debit order mandate solution which allows your customers to sign and authorise their debit orders from anywhere and on any device.

This solution will save you on costs and lengthy waiting periods associated with the signing of paper-based debit order mandates.

The electronic debit order mandate is fully customisable and can be used as your complete online sign-up solution allowing your clients to sign up for your products and services directly on your website or application.

With E-Mandate you can:

  • Re-direct customers using in-store or magazine barcodes
  • Pre-complete the form by sending data as a query string
  • Send mobile OTP for a one-time password ensuring maximum security
  • Integrate easily with existing systems
  • Store and back-up in encrypted PDF format
  • Electronically accept and sign the mandate on any device, including computer, mobile phone or tablet

Debit order system

Direct Debit offers debit order facilities for the processing of both bank account and credit card debit orders.

Facilities include standard EFT debits, NAEDO debits, Authenticated Collections and Account Holder Verification Service (AVS).

Direct Debit will be one of the first companies to offer Authenticated Collections in South Africa, available later this year. Authenticated Collections is set to replace NAEDO and reduce debit order fraud.

The debit order system will ensure your business is empowered to manage and automate debit order processing. A variety of contract management solutions with various levels of integration is also available.

The most important features of the debit order system include the following:

  • Fast reconciliation
  • Complete automation
  • Decreased banking fees
  • Flexible submission deadlines

Invoicing system

The electronic debit order mandate and debit order system is fully integrated with the SnapBill online billing system.

The information provided on the electronic debit order mandate will be automatically pulled through to SnapBill. From here clients and invoices are created for future debit order processing.

All transactions from bank accounts and debit/credit cards will be processed by Direct Debit via SnapBill. After processing, each customer will automatically be reconciled as successful or unsuccessful and invoices/statements updated accordingly.

Automated messaging and alerts can also be fired off to your systems and integration with accounting and other platforms are available via webhooks or a restful API.

SnapBill features the following:

  • Rule-based and recurring invoicing, which automatically generates invoices based on your unique business model
  • Recurring payment collections allows you to completely automate debit batch collections from customer bank accounts and credit cards with automated reconciliation
  • Schedule and send out invoices, welcome emails, late payment warnings and statements
  • Connect and synchronise invoicing data with external systems via webhooks or restful API
  • PCI compliant storage of credit cards to process Card Not Present (CNP) recurring transactions
  • Commission calculations for agents

For more information or to sign up for this comprehensive debit order solution, please visit the GetCashFlow website.

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About the author

Direct Debit
Direct Debit offers a comprehensive debit order solution, from initial advice and account set up, through to the processing debit orders.
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