Manage Direct Debits And Authorize Payments with Advanced Mandate Management
Minimize errors with electronic direct debit processing and automate payments collection and mange the whole direct debit cycle.
iGTB's Payments Engine solution, supports the direct debit module for all major direct debit schemes are supported: Bacs, International Direct Debits and SEPA Direct Debit (SDD), with validation of bank account details at the point of submission of the direct debit instruction. Initiation can be done using a one-time instruction or a recurring schedule.
Direct Debit Schemes
Different direct debit types are supported: when paying by direct debit, billers in the UK can be paid using UK Direct Debit; when collecting by direct debit, organizations can collect regular or occasional payments. The module assigns Bacs-compliant transaction codes and manages re-presentations; it complies with the latest Bacs regulations and reconciles Bacs reports.
International Direct Debit (IDD)
The module supports international drawdown using SWIFT MT101 messages. It enables you to configure business rules to route payments for direct debits and route direct debits for payment processing with an International Direct Debit footprint. Regulatory compliance is ensured for mandate management and direct debit processing, in accordance with IDD guidelines.
SEPA Direct Debit (SDD)
With this module, you can validate all direct debits for EUR currency; and validate all transactional data for BIC and IBAN. Mandate management is supported -paper or electronic; as is the capture of notice period for fixed subscription payment schedules.
"Reduce Manual Errors and Automate Your Collection of Payments"
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