Debit Order Collections
Cash is the oxygen that enables a business to survive and prosper and is the primary indicator of business health. For this reason the inflow of cash need careful monitoring and management. One of the key elements of a cash flow and debtor management cycle is the use of efficient debtor payment mechanisms, such as debit orders.
- Our Electronic Fund Transfer debit service is used by clients to process debit order payment files.
- Transactional functionality includes collections from credit cards.
- Our automatic CDV (Check Digit Verification) pre-validates bank accounts to determine if account numbers are consistent with bank and branch validations. This facilitates the accurate capturing of data prior to submitting transactions, reducing returned or rejected transactions and associated costs.