Registered Mandate
Payment Stream
The Registered Mandate Payment Stream offers you a secure, transparent and efficient debit order system whether you are servicing a B2B or B2C market.
Registered Mandate (RM) Collections
Registered Mandate (RM) debit orders offer transparency, security, and reliability to your collection processes. As a modernisation and future replacement of the EFT Debit Order Payment Stream.
RM is a payment stream within the National Payment System (NPS), operating under its own Payment Clearing House (PCH) and Clearing rules.
RM is ideal for businesses operating in environments that do not require early-morning debit order processing. These RM collections enjoy the benefits of enhanced security, real-time responses and settlement, as well as complete Payer transparency.
What you need to know
Some important things to note about the RM payment stream offering:
Presentment Time:
RM transactions are presented in the early evening, before EFT Debits
Real-Time Responses
Real-time creation and collection responses.
Disputability:
All RM Collections are disputable up to 12 months after being collected
Credit Tracking:
Supports credit tracking, starting at 12:00 midday the day after a debit order fails due to insufficient funds. Failed collections can be re-presented for up to 10 consecutive days.
Juristic Accounts:
RM collections can be presented against business accounts or accounts with multiple signatories.
Mandate Register:
Mandate parameters are registered with Debtor Banks, giving Payers visibility and amendment notifications, enhancing payment stream transparency.
Creation Times:
RM Collections can be created till 12:00 midday and submitted on the same day (early evening), providing a same day service.
Is RM Right for Your Business?
RM is particularly well-suited for businesses that require:
Cost-Effective Collections:
A budget-friendly solution for non-time-sensitive debit order transactions.
Multiple attempts at Collection:
Multiple attempts at Collection: Supports multiple consecutive presentments for up to 10 days, improving collection success through credit tracking.
Enhanced Transparency:
Provides Payers with clear visibility of mandate parameters, as they are securely stored in the Debtor Bank’s mandate register.
Secure Processing:
Ensures collections take place in a highly secure environment, safeguarding both businesses and Payers.
Accessing RM Debit Orders
ALLPS-i
Amplifin’s advanced web-based front-end collection and payment management solution.
Integrated Solutions
We offer existing integrations with a large number of commercially available Debtor Management Systems
Ready to Embrace RM?
Let us help you sign up for the Registered Mandate Payment Stream today.
