MyGate’s debit order system enables companies to process debit orders against bank accounts and credit cards. The debit order collection is created within MyGate’s web based collection system. No software is required to be installed! The MyGate Web Console also provides all the reporting for debit order collections processed so that you know which debits were successful or failed.
Debit Order Processing Times
Same Day Value (SDV)
The Same Day Value service provides the ability to submit and deduct a debit order on the same day that the debit is to take place. Debit Order submissions 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 orders to be submitted to 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.
Key Features of MyGate’s Debit Order Solution
- Fully automated debit order facility and management system
- Wide Range of reporting
- Accessible via the web 24/7
- Customer collection information at your fingertips when you need it – in real time
- Reporting and export facility in standard formats for use with billing or invoicing systems
- Payment Association of South Africa (PASA) Approved Bureau
- Full disaster recovery and contingency plan documented and tested regularly
- Customer management interface that provides tools above & beyond just debiting an account. – The MyGate Web Console allows users to perform a range of useful customer management and reporting functions
- Industry highest standard – MyGate is ISAE 3402 certified and is also audited annually for PCI DSS