Direct Debit

Consumers

For regular and recurring types of payments, Direct Debit makes the process transparent and hassle-free. Just set the payment parameters once and the payments will be made according to schedule, making this a truly “set and forget” solution! Payments are processed and settled on the same day, with the highest level of security. With Direct Debit, bill payments will be made on time. Customers can enjoy peace of mind as Direct Debit will ensure that deadlines are met.

Direct Debit offers companies a simple way to manage incremental payments from customers. At the same time, retailers and merchants can now offer their customers an alternative avenue to spread the cost of their purchases such as insurance premiums, subscription fees or monthly payments. To date, 70% of the total transaction volume was contributed by the insurance sector, followed by trading services, financial institutions, unit trust etc.

Key Benefits:

Ideal solution for recurring transactions
Facilitates interbank collection
Allows direct access to banking accounts in all major banks
Enables ease of reconciliation via a single channel
Allows same day processing and settlement
Provides highest level of security PKI technology
More cost effective solution than any other payment channel

FAQs