Securing Collections!
Using MyGate's Debit Order System, companies can process and manage Debit Order and Naedo collection methods. Integration Methods for Debit Order Collection Service options are described within each service.
Collection Method
-
User
-
Collections Platform
-
Bank
Debit Order
The debit order collection service enables companies to process debit orders against bank and credit card accounts. In order to manage a successful debit order product the following is supplied.
- Create Batch Interface - This allows companies to create their debit order batch
- Batch Release Screen - Once a debit order batch has been created it needs to be released for processing. Companies can create user rights allowing one user to create the batch and another to release
- Reporting - It is important to note that once the debit order processing is complete, Rejected Debits (RD's) can be returned up to four working days after the action date.
Same Day Value (SDV)
The Same Day Value service provides the ability to submit and deduct a debit order on the same day. Debit Order Batches must be received by MyGate no later than 11:00am of the action date. The debit will appear on the client's account on the day after the action date, but will be effective the from action date.
Two Day Value (TDV)
The Two Day Value service requires debit order batches to be received by MyGate two full business working days prior to the action date. The debit order batch must be received by MyGate no later than 11:00am.
Naedo
MyGate's NAEDO (Non-Authenticated Early Debit Order) service is used to submit a debit order action date with a specific tracking period. Naedo will only debit the account holder if funds are available within the account. As such, only unsuccessful debits will take place on not RD's. Funds are only paid out on successful Naedo debits.Companies can submit a naedo file with an action date and number of days for tracking to be initiated. In the event that the action date debit is unsuccessful due to insufficient funds, tracking can be initiated. Tracking can be selected up to 31 days after the action date and will poll the bank account 4 times per day to see if funds are available. In the event that funds become available the account will be debited.
- Reduce RD rates
- Increase Cash Flow
- Reduce Internal collection costs overheads
- Control Risk Management
- Accurately Budget
- Information Technology Benefits
- Simplify File Processing
- Debit Order Management
- Data submission through web service or file upload
- Access to Banking updates
- Ability to increase collection rate and control debit order costs
- Automated changing of action dates and tracking dynamically
- Action Date, debit type, tracking and RD data history stored.
- PASA regulatory rules built in
Additional Services
MyGate has created additional validation services within the debit order system that assist with a more effective collect rate. These validation services help to reduce RD's and ensure that the correct account is being debited.
Account Validation
MyGate's Account Validation Service verifies that a bank account and branch code are valid thus reducing debit costs, as no invalid account returns take place after debit order submission.
When uploading a debit order batch file, account validation can be done in real-time, ensuring all of the bank account details are correct before submission.
Why use it?
- Reduce Debit Order Costs
- Increase Collection Times
- Eliminate Invalid Account Returns
How is this Service Accessed?
This service can be accessed through the MyGate Web Console.
How is an Account Validation Query Submitted?
It can be processed manually online, when uploading a debit order batch file or by integrating into a web service.
How are Results Viewed?
Results are delivered in real time identifying which account details are invalid.
Account Verification
MyGate's Account Verification Service verifies the identity of an account holder against the account number supplied.
MyGate has integrated with an inter-bank Switch to facilitate the automated account verification process.
Why use it?
- Account Verification ensures that the bank account being supplied by the individual matches their ID
- Reduce Fraud and potential losses
- Ensuring Consumer Confidence
- Preserving company reputation
How is this Service Accessed?
This service can be accessed through the MyGate Web Console.
How is a Account Verification Query Submitted?
It can be processed through an online interface or by importing a file in the Web Console.
How Results Viewed?
Results are delivered in the Web Console and are viewable through reporting. Search by batches submitted or received. Results of the account number to ID match are either displayed as 'positive' result in green or 'negative' result in red. If the status is displayed as incomplete then MyGate is waiting for the results from the bank. Results can take up to 24 hours.
Technical Support
In this section User Manuals and integration specifications are provided for MyGate's debit order system. MyGate's Debit Order Integration is simply creating the file format required when importing a File. The user manual clearly indicates what fields are required ensuring a hassle free file submission.
MyGate Web
The MyGate Web solution does not require integration as all client data will be entered in the MyGate's Web Console.
MyGate Pro
The MyGate Pro solution allows a file to be uploaded through MyGate's Web Console. In order to do this, the file must be submitted in the format described in the file specification.
Key Information
Find out more details about MyGate's debit order products and services.
Debit Order Rules
PASA and the Reserve Bank have set up Debit Order Rules for EFT Debit Orders that ensure best business practice and to protect bank account holders...
Mandates
A signed Debit Order Mandate is required for authorization to debit a bank account. This mandate must include that MyGate is authorized to Debit your client on your behalf...
Mandate DownloadPASA
The Payment Association of South Africa governs the rules and regulations revolving around debit orders. Learn more about how the rules PASA has established ...
FAQS Debit
In the section you can browse through our Frequently Asked Questions. You will be able to find answers to the basic elements of understanding Debit Order Collections...
Pricing
Find out more details about MyGate's Debit Order pricing below.
Pricing
Collection Method - Debit Order
Service Fees - Credit Card Processing |
|||
| Once off Setup Fee | R 350.00 | ||
| Monthly Subscription | R 250.00 | ||
| Minimum Batch Fee | R 29.00 | ||
Transaction Rates |
|||
| Tier Structure | Transaction Volumes (Per Month) | 2 Day Service | Same Day Service |
| 1 | 0 to 250 | R 2.15 | R 2.85 |
| 2 | 251-500 | R 2.10 | R 2.80 |
| 3 | 501-1000 | R 2.05 | R 2.75 |
| 4 | 1001-2500 | R 2.00 | R 2.70 |
| 5 | 2501-5000 | R 1.95 | R 2.65 |
| 6 | 5001-7500 | R 1.90 | R 2.60 |
| 7 | 7500-10000 | R 1.85 | R 2.55 |
| 8 | 10001+ | R 1.80 | R 2.50 |
Transaction Rates - Other |
|||
| RD (Returned Debit) per transaction | R 2.95 | ||
| Credit Card Debit (percentage of value) | 6% | ||
| Charge Back | R 35.00 | ||
| Payouts | R 4.00 | ||
| Account Unblocked | R 5.00 | ||
| Account Verification | R 3.50 | ||
Collection Method - NAEDO
Service Fee |
|||
| Once off Setup Fee | R 350.00 | ||
| Monthly Subscription | R 250.00 | ||
| Minimum Batch Fee | R 29.00 | ||
Transaction Rates |
|||
| Successful | R 6.15 | ||
| Unsuccessful | R 2.95 | ||
| Tracking | R 3.00 | ||