Simplest way to collect money
It is a convenient and efficient collection method for businesses/ billing organizations that enables automated collection of recurring payments directly from customer’s bank account at multiple banks with a single authorization.
Advantages of DirectDebit
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Efficient
Businesses can collect payments from customers efficiently by debiting customers’ bank account on recurring basis
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Control
Businesses may determine when and how much to debit their customers once direct debit mandate is obtained from customers
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Cost-effective
Direct Debit is more cost-effective for businesses compared to some other auto-debit payments
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Ease of reconciliation
Provides payment reference information to facilitate reconciliation
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Secure
Build with secure payment infrastructure
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Wide reach
Businesses can collect payments from customers at 22 Participating Banks