Increase your payment success by 2% with TRAQ Debi-Check Optimiser

Debi-Check Optimiser

Debi-Check Optimiser?

Increase your payment success by 2% with TRAQ Debi-Check Optimiser- superior Intelligence with our Debi-Check payment channel that has proven to increase payment success by 2%!

By requiring electronic customer approval for new debit orders, you may safeguard your company from account fraud and minimise debit order disputes. The intelligent DebiCheck  feature enables debtors to once-off validate debit order mandates, ensuring that future DebiCheck payments can be safely collected.

The customer’s debit order mandate will be registered with their bank when they choose to enter into a new payment agreement with you.The debit order may be taken from the debtor’s account without being revoked or challenged once the debtor has approved the DebiCheck mandate.

Debtors can authorise mandates with their banks using their banking apps or mobile USSD prompts, enabling remote authentication.

Benefits of Traq Debi-check optimiser:

  • Reducing Disputes: Lower erroneous debit order disputes and boost collections.
  • Cost Savings: By decreasing fraudulent accounts and verifying bank account legitimacy, you can cut costs.
  • Boost Consumer Confidence: Encourage trust by letting customers know how payments will be handled up front.
  • Accuracy of consumer data: This is improved by eliminating unfair cash flow management techniques via electronic consumer confirmation.
  • Digitised onboarding process: This eliminates the necessity for physical documents.

Debit orders are generally seen as a practical means for South Africans to settle their accounts.
However, over the past few years, misuse of debit orders has grown to be a significant problem in South Africa.

Without the customers’ permission, some businesses have processed erroneous debit orders to their bank accounts, and some customers have unfairly challenged and reversed erroneous debit orders with their banks to avoid paying legitimate debit orders.

As a result, the South African Reserve Bank (SARB) requested the South African banks’ trade group, the Payments Association of South Africa (PASA), to come up with a solution.

DebiCheck was consequently unveiled. A DebiCheck debit order is a brand-new, once-off debit order that the customer electronically confirms with their bank or service provider at the beginning of a brand-new payment agreement that has been made with an organisation. DebiCheck is a novel technique for customers to manage how specific debit orders are deducted from their bank accounts.Debtors are in charge of and informed of debit orders being handled to their bank accounts thanks to DebiCheck. It gives you the assurance that the debtor can instantly be made aware of and  acknowledge a debit order.

Furthermore, it gives the business or service provider that debtors are negotiating with the assurance that the debtors have acknowledged and are aware of these debit orders. Verifying the data before the debit order is performed also enables the debtor’s bank to obtain the debit order information. DebiCheck returns power to the debtor, providing them with peace of mind that DebiCheck debit orders must be processed under previously agreed-upon terms.

The debtor must confirm the debit order request once using the DebiCheck procedure, at the beginning of the payment agreement.By doing this, the bank of the debtor is notified that the requested withdrawal of funds from the debtor’s account has been authorised.

This means that the bank will now be aware of the specifics of what the debtor has agreed to and will not permit the processing of a DebiCheck debit order outside of the parameters. 

With Debi-check the debtor will initially need to approve their debit order on a once-off basis. Should the details of the DebiCheck debit order change over time, such as the payment date or amount, then the debtor may need to approve the debit order once again with the agreed-upon changes. Should there not be any changes to the DebiCheck debit order, the consumer will not be asked to approve or decline the request. Should the debtor want to change the payment arrangement, they would need to call in and request that the debit order be changed.

The banks have streamlined the DebiCheck process to make it simpler for debtors to accept or reject a DebiCheck debit request. Most banks give customers a choice of the many channels they can use, including mobile banking, online banking, or they are able to quickly and easily authorise payment.

Why TRAQ? Over two decades, TRAQ Software Solutions has used an extensive expertise to deliver local and international businesses the best in cutting-edge IT and call centre services.

REQUEST A DEMO