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NAEDO - SOUTH AFRICA

PAYM8’s state of the art Collection System enables businesses to collect once-off or recurring installments directly from their client or debtor’s bank account. These transactions can be done on any date(s) defined by you and agreed upon by your client or debtor.

 

OVERVIEW
  1. The NAEDO (Non authenticated early debit order) transactions are randomised and processed directly after the South African National Payments System salary run which positions NAEDO collections as the most effective way to increase any company’s collection success rate.
  2. The PAYM8 collection system promotes pay-day driven collections to increase your business’ success rate.
  3. PAYM8 can collect from all major banks that participate in the NAEDO payments stream
  • First National Bank
  • ABSA
  • Standard Bank
  • Nedbank
  • Capitec
  • Mercantile Bank
  • Bank of Athens
  1. NAEDO collections can be debited from current, cheque, savings and transmission account types.
  2. The South African Reserve Bank requires a signed mandate whereby your client or debtor gives you authority to electronically deduct funds from his or her bank account. This mandate can be in writing or a voice recording.
FULL CONTROL OVER TRANSACTIONS
  1. Collection instructions can be submitted using any device or browser, to the PAYM8 Collection System.
  2. Future dated collection instructions can be edited directly on the PAYM8 collection system at no extra cost.

This allows you to:

  • Change collection dates
  • Edit tracking settings
  • Cancel instructions
  1. Failed transactions can be resubmitted for future processing.
  2. All changes are updated real-time on the PAYM8 Collect database.
  3. Bulk upload and bulk editing facilities are available for larger transaction volumes.
  4. All transactions are stored on PAYM8’s secure server. This ensures that the Integrity of your transaction data is guaranteed throughout the entire collection process.
TRACKING
  1. Account tracking is a feature unique to the Early Debit Order payments stream. PAYM8’s collection platform allows merchants to define this tracking period for each collection instruction submitted through the PAYM8 gateway.
  2. According to the tracking period selected (1, 3, 4, 7, 14, 21 and 32 days) the NAEDO debit order will poll the customer’s bank account until funds become available.
ACCOUNT VALIDATION
    1. PAYM8 Collect enables fast, accurate, validation of South African bank account details, greatly reducing costly, time consuming errors associated with data input.
    2. Simple, fast and effective, PAYM8’s Account Validation service is the most comprehensive solution available for improving the accuracy of information associated with collections, whilst saving businesses valuable time and money.
      SAME DAY REPORTING
      1. Transaction outcomes reports are available 24/7 on the PAYM8 Secure website and continuously updated during the day.

      Frequently used reports

      1. Successful report – contains all details of successful collections for a defined period
      2. Failed report – details of failed transactions including reason codes that can be used to analyse failures
      3. EDO Tracking report – indicates all collection instructions that are currently in tracking
      4. Creation date report – detail of all the collection instructions created during a specified period
      5. Future dated report – contains information on all collection instructions that are due to run at a specified future dated time. This report is an excellent tool for financial planning and projected cash flows
      6. Graphical report – a  graphical representation of collection outcomes aimed to assist businesses to improve their collection success rates
      7. Billing report – offers up to date information on transaction fees
      INSTALLATION
      1. The PAYM8 Collect website can be accessed through the internet using any device or browser.
      2. Installation of the PAYM8 client application can be done anywhere in South Africa. Business owners will only be charged for one installation. No additional fees will be incurred for multiple users.
      APPLICATION PROCESS
      1. PAYM8 collect application forms are available under DOWNLOADS
      2. Contact PAYM8 Collect for assistance
        1. Brenda Zondagh +27 (0)82 615 1385 (Sales and Distribution Manager)
        2. Carla Limbrick +27 (0)83 258 3131 (Key Account Manager)
       
        PAYM8 HEAD OFFICE Tel: + 27 11 564 2460 • Fax: +27 11 564 2496 • info@paym8.co.za