Businesses and Customers agree that debit orders are a convenient way to pay their accounts, as it saves them time and having to remember to make payments, thereby giving them peace of mind.However, on a monthly basis the banks collectively process about 31 million debit orders, 120 000 of which are disputed. Over the past number of years, debit order abuse has become a major issue in South Africa. There has been bad behaviour by some companies that process invalid debit orders to consumer bank accounts. In addition, there are consumers that avoid paying valid debit orders by unfairly disputing these with their banks. As a result, the Reserve Bank has asked PASA (Payments Association of South Africa), to find a solution.
DebiChecks are new debit orders electronically confirmed by your customers with the bank on a once-off basis, relating to a new contract that you have signed with your customer. This mean changes to the interactions you have with your customer. No worries the eCashMeUp platform has simplified the on-boarding process for you. Using DebiCheck your clients bank will now know the details of what you have agreed to and will not allow your DebiCheck to be processed outside the terms that you have confirmed. Sign up for DebiCheck debit orders with eCashMeUp and be in control.
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