EFT Debit Orders
An EFT Debit Order Solution is an ideal and cost-effective solution if you are operating in an environment where the presentment of your debit orders is not time-sensitive.
Benefits of EFT Debit Orders
Cost-Effective Solution:
EFT Debit Orders provide an affordable way to have collections processed that do not require early morning processing, reducing costs for your business.
Efficient Management:
Businesses can easily manage debit orders, minimising the risk of missed uploads.
Flexible Scheduling:
Debit orders can be loaded on a once off basis for a defined period of time and a new upload file does not need to be submitted per payment cycle, saving the user time and ensuring collections are extracted and submitted on time.
How EFT Debit Orders Works
STEP 01
Agreement with Business or Consumer
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An agreement is concluded between the consumer/business and the Amplifin client, and the payment terms, which include amount, payment date and duration is agreed upon in the form of a paper, voice or electronic mandate.
STEP 02
Debit Order Creation
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Create a debit order using the consumer/business’s bank account number for single or recurring payments with flexible frequencies, including daily, weekly, monthly, or recurring options.
STEP 03
ALLPS Managed Solutions
#
Create all your EFT Debit Orders for the entire term, eliminating the need for monthly file submissions, saving time and reducing manual effort.
STEP 04
Debit Order Processing
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Amplifin will extract and submit the debit orders for processing for the specified deductions date.
STEP 05
Settlement
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Once final responses are received from the consumer/business’s bank (typically two business days after processing) the successfully collected proceeds will credited to the Amplifin client’s bank account.
How EFT Debit Orders Works
STEP 01
Agreement with Business or Consumer
#
An agreement is concluded between the consumer/business and the Amplifin client, and the payment terms, which include amount, payment date and duration is agreed upon in the form of a paper, voice or electronic mandate.
STEP 02
Debit Order Creation
#
Create a debit order using the consumer/business’s bank account number for single or recurring payments with flexible frequencies, including daily, weekly, monthly, or recurring options.
STEP 03
ALLPS Managed Solutions
#
Create all your EFT Debit Orders for the entire term, eliminating the need for monthly file submissions, saving time and reducing manual effort.
STEP 04
Debit Order Processing
#
Amplifin will extract and submit the debit orders for processing for the specified deductions date.
STEP 05
Settlement
#
How would you like to access EFT Debit Orders?
ALLPS-i
Amplifin’s proprietary platform, ALLPS-i, is an advanced, web-based solution that streamlines payment and collection management. With robust features, ALLPS-i is designed to optimise your payment and collection processes and ensure seamless integration with your existing operations.
Integrated Solutions
We understand that every business has unique needs, which is why we offer flexible integration options. From file-based solutions to real-time web services, we provide smooth integration with a variety of debtor management systems (DMS) and admin platforms.
Ready to embrace EFT debit orders?
Let us help you sign up for the EFT Debit Order Payment Stream today.