EFT Payments – Simple, Secure Collections for Your Business
EFT Collections are a trusted way to collect funds directly from your customer’s bank account, whether as a once-off payment or on a recurring basis. To process these payments, you’ll need the customer’s authorization, which can be obtained through a signed document, electronic approval, or a voice-recorded mandate.
At DebiPay, we make EFT collections easy and secure by leveraging the electronic collections stream sponsored by the bank. This ensures your business can recover funds efficiently and with confidence.
Every debit order starts with a mandate—the formal agreement that authorizes a service provider to collect funds from a customer’s account. This mandate is the legal and operational foundation of the entire debit order process, ensuring compliance and trust between both parties.
There are three ways mandates can be captured:
Written mandates, Electronic mandates or Voice-recorded mandates
