DebiCheck is an industrywide initiative in South Africa that lets consumers approve all new debit orders – once-off and electronically – to prevent incorrect or unauthorised debit orders from coming off the consumers account. It is designed to put consumers in control of their debit orders thereby re-establishing overall trust in the SA banking system, preventing both illegal debits by rouge merchants and cash flow management by consumers.
The development of the DebiCheck transaction has no doubt been a major development in the South African payments industry. The technological advancements have been huge; in fact, a world-first for direct debits, but the process has certainly not been without its challenges! Now that the industry is approaching production ramp-up, PAYM8 wants to ensure that you have a fuss-free implementation and on-boarding experience.