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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

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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.

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Efficient Management:

Businesses can easily manage debit orders, minimising the risk of missed uploads.

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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

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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.

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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

#

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 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.

Learn more

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.

Learn More

EFT Debit Order FAQ's

What is an EFT debit order?

An EFT debit order is a payment instruction that allows a business or service provider to collect money directly from the payer’s bank account on an agreed date. The payer must first give permission, through a signed paper, or voice-recorded or electronic mandate, before collections may take place. 

Your business first obtains authorisation from the payer, in the form of a valid debit order mandate. Once the mandate is in place, your debit order provider submits the collection instruction through the South African banking system. On the agreed collection date, the customer’s bank account is debited and the funds are paid to your business, subject to successful processing and bank rules.

With an EFT debit order, collections are presented for processing based on the mandate provided by the payer. With DebiCheck, the payer electronically confirms the debit order details with their bank before collections can proceed. DebiCheck can offer additional protection against disputes because the payer has authenticated the debit order upfront.

Yes. EFT debit orders are a cost-effective way to help your business improve cash flow, reduce manual payment follow-ups, and make recurring collections more predictable. It is especially useful for businesses that collect regular payments from payers where the timing of the collection is not time-sensitive, provided that proper mandates, collection processes, and dispute-management procedures are in place.

Ready to embrace EFT debit orders?

Let us help you sign up for the EFT Debit Order Payment Stream today.

Contact us