DebiCheck

DebiCheck offers a secure debit order collection system for mandated debits specifically authorised by account holders and provides for early debits with priority over others. This product includes an electronic mandate agreement facilitation between client and bank. Currently, the collections are processed through South African bank accounts held by an individual – current, cheque, savings, or transmission.

How does the product work?

Clients register collection mandates through the Paysoft system. Paysoft then submits these transactions to the account holder’s bank. The bank requests an acceptance and authorisation to debit the account from the account holder. Once account holders have authorised debits, Paysoft can continue to collect debits on behalf of the client.

The account holder can authenticate the DebiCheck debit order via various authentication channels (depending on the debtor bank): USSD on their cell phones, online banking, banking app, at the branch, via telephone or at an ATM.

Debit Order Dashboard

Product features

DebiCheck files can be uploaded via our secure website or through system integration with our API.

$9.95

Single or bulk transaction processing is supported.

$9.95

Authenticated electronic mandates provide fraud-prevention mechanisms.

$9.95

DebiCheck safeguards consumers from unauthorised transactions and protects clients from unwarranted disputes.

$9.95

Reporting is provided through our secure cloud-based interface and reports can be extracted in Excel format.

$9.95

Product benefits

Built-in Check-Digit Validation automatically pre-validates account numbers against bank and branch account rules.

$9.95

Paysoft offers multiple payment settlement options, or transactions can be processed in the client’s own bank account.

$9.95

DebiCheck enjoys priority over EFT debits and there is an option to retry a debit for 1 to 10 days if no funds are available.

$9.95

DebiCheck prevents fraudulent debits from being processed.

$9.95