Debit Order and NAEDO
COST EFFECTIVE COLLECTIONS
Collecting payments on time is a critical component to any successful business. Ecentric Payment Systems offers a Debit Order service that enables your business to electronically generate collection instructions based on signed mandate authorisations from customers, allowing you to process recurring and once-off collections from customers’ bank accounts. Our service enables EFT Debits and NAEDO processing. The Debit Order service helps to improve your business’s cash flow and provides a cost effective alternative to receiving payments in cash, by cheque or stop order.
Our Debit Order service offers a range of features aimed to improve your business’s collection capabilities, whilst reducing processing costs:
This service option allows you to process collections with your acquiring bank using a variety of bank facilities including SSVS (Same Day Soonest Value), Next Day Service, One Day Service and Two day Service.
The NAEDO (Non-Authenticated Early Debit Order) service option aims to improve your collection rates with the use of multiple presentments and credit tracking. If the first presentment of the NAEDO instruction is returned as unpaid, subsequent presentments can be made over your selected tracking period (up to 32 days) or until payment is received. For optimum collection recovery, opt in for Unpaid to NAEDO conversions to automatically track unsuccessful EFT collection based on your configured rules.
Link Payments to Collections
This feature lets you trigger a payment based on the receipt of a particular set of collections. By linking payments to collections, your business is able to manage cash flow between debtors and creditors.
Multiple Integration Options
Submit debit order instructions across any service type using our one format, simple Payments & Collections API, Secure FTP your files or upload instruction files on our secure merchant web portal.
Collection Aggregation allows you to aggregate multiple collection instructions into one consolidated instruction, before sending it to the bank for processing. This feature applies to multiple debit orders that need to be processed on the same bank account, on the same day. Collection Aggregation provides cost savings by reducing the number of instructions submitted to your bank. This service is useful for businesses that need to collect multiple debit orders from the same customer. For example, a customer that needs to pay for different magazine subscriptions from the same service provider.
Critical Unpaid List
This feature monitors payment instruction success history. You are able to configure flexible rules that mark certain bank accounts as ‘critical unpaid’ after a pre-defined number of unpaid outcomes. Once an account is placed in the Critical Unpaid list, all instructions to that account can be blocked.
Check Digit Verification
Check Digit Verification helps you verify the correctness of account details captured into your systems before processing EFT instructions. This service ensures account details captured are valid according to the bank, branch and account check digit.
- Debit Orders can be processed against current, and enabled savings and transmission accounts.
- Facility to manage submitted NAEDO instructions.
- Gain access to updated Unpaid and Dispute Reports via a secure web portal.
- Comprehensive reports allow you to view the status of a transaction at aggregate and detail level.
- Submit any type of collection and payment instruction using a single file format.
- Submit collection and payment instructions in one file.