Rand Merchant Bank – Debicheck
Hello world!
5th February 2019The introduction of DebiCheck by the payments and collections industry is a significant initiative. It is intended to address much more than just debit order abuse, and is expected to enhance the safety and efficiency of the South African payments and collections system substantially. Two outcomes of this project are the reduction in the number of unauthorised debit orders processed by companies, and the reduction of consumer disputes stemming from the ‘no authority to debit’ scenario.
The banking industry has never had a mechanism to electronically presentstore mandates and vet the validity of each collection instruction over debtor accounts.
Read full article here:
https://www.rmb.co.za/solution/debicheck
