A business debit order is a form of a consensual collection of your money from a third party. A business debit order (or direct debit) is initiated when a client completes a written or verbal (telephonic) debit order mandate, instructing the bank, that your client has given their permission, for the collection of funds from their bank account.
In South Africa, most companies use business debit order solutions like PayportSA to administrate and regulate their monthly debit order collections. It is the most efficient and effective way of collecting on invoices from clients, while at the same time, helping your business to maintain a healthy cash flow.
A business who would use our debit order System, is usually those who require regular monthly collections of:
- Insurance premiums
- Loan Repayments etc.
Payport SA as a Business Debit Order Collection Service Provider
At Payport SA we offer affordable and hassle-free business debit order collections. Debit order collections should be simple and efficient, saving you time and money. Delays in Collections of any monies due or owed to your company can be catastrophic for your cash flow and our Business Debit Order Collections System, will help to ensure that this does not happen.
Dealing with the nitty-gritty and back and forth with banks, should debit orders bounce or other issues arise, takes up a large portion of administrative time in a company. This is where we come in. Payport’s business debit order collection takes the hassle out of dealing with the banks and we make sure debit order transactions happen seamlessly and that your business’ money is collected on time. You will be able to increase your cash flow and reduce collection costs.
We have processed thousands of transactions for merchants across South Africa and we are proud to be the most cost-effective business debit order solution collection business in South Africa. Payport is small enough to care and big enough to be effective.
We have a simple and easy-to-use website based Payment Portal which is both simple and efficient to operate, helping you keep your Collection Services online, in these uncertain times, when face-to-face meetings are replaced with digital/online meeting mediums..
Frequently asked questions about business debit orders in South Africa and the benefits thereof:
#1 How Do Debit Orders Work?
A debit order is a commitment between you and a third party to take an agreed amount of money out of your bank account every month to pay for a service or to repay a loan.
#2 What Happens If I Stop a Debit Order?
The customer can go to his or her bank and request for future debit orders to be stopped/returned without being paid. The debit order will still be reflected on the customer’s account, but their bank will automatically return the debit on the same day.
#3 How Long Does a Debit Order Reversal Take?
Your debit order will now be successfully reversed, and money should reflect into your account in the next 2 business days. It’s that simple!
#4 What is the Difference Between a Debit Order and a Stop Order?
In simpler terms, a stop-order or scheduled payment is an instruction that you issue to your bank to make a series of future dated recurring payments, whereas a debit order is an instruction that you provide to a third party to pull the funds from your bank account.
Benefits of a Recurring Debit Order Solution
- A recurring debit order is an effective solution – By setting up an automated debit order process, you do away with the time and expense associated with manually processing payments
- The application process is fast and secure – Getting started with PayPort is fast and straightforward and only requires you to visit one of our brick and mortar stores once.
- Accessible to all businesses no matter their size – Whether you process two payments, or you process multiple debts, we cater to all businesses.
- Allows a business to streamline its operations – A recurring debit order solution makes managing your businesses operations extremely simple as our PayPort products can integrate with your existing accounting software.
- Administration and management can be done online – Once you’ve added your customers to the PayPort system, our system will automatically create an invoice, process customer debit orders, reconcile the transaction and deposit the funds into your account.
- Online and efficient customer service support – PayPort’s automated system is always on, meaning you can access your online account 24/7. PayPort gives you complete control over your payments, whether it is in the office or the comfort of your own home.
PayPort SA delivers an accessible, innovative and user-friendly solution to South African businesses, no matter their size, at affordable prices.
PayPort SA is a nationally recognised collections and payments solution provider with over 18 years’ experience in the E-Commerce industry.
Contact PayPort SA today to save your business time and money.