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OVERVIEW
Direct Debits Scheme enables banks/agents to collect payments on behalf of service providers like insurance companies,utility companies etc. Direct Debits scheme was commissioned by CBK through Kenya Banker's Association (KBA) clearing house towards the end of 2002.It provides an efficient payment system using the KBA's electronic funds transfer (EFT) format. It permits an originator/service provider to collect amounts due from a payer at the payer's bank by initiating direct debit transfers on a bank account nominated in a Direct Debit Authority. It is solely a method of collecting payments and banks are not responsible for any underlying contract between service providers and their customers (payers).Our ServiceMaster™ Direct Debits Solution facilitates the Direct Debits funds transfer with maximum ease and minimum costs.
KEY FEATURES
- Multi-user access
- Multi-originator/service provider enabled
- Enables banks/agents to capture global data such as:
- Originator/service provider details
- Services offered by the originators
- Define charges/commissions
- Define the intervals at which deductions are to be made
- Define banks/agents and branches to be debited or credited
- Customer details
- Define transaction types and payment modes as outlined in the KBA Specifications
- Directly debits a customer’s account and credits an Originator’s (Service Provider’s) Account
- Creates payment schedules for both single and batch entries
- Allows for re-scheduling of payment schedules incase either the service provider or customer intends to
- Automatically presents a diary (A list of matured transactions) on daily basis
- Allows for batch transactions processing through batch file importation from the service provider
- Enables banks/agents to Stop, Process or Suspend transactions based on the Originator’s instructions
- Generates EFT files to be used in the Banks/agents Clearing Centers
- Workflow (online authorization of transactions)
- Dashboard Management Module
- Role Based Security Module
- Tracks all the activities (Audit Trail) done in the system
- Enhanced dual-controlled/maker-checker functions
- Generates standard and customized operational and management reports
MAIN BENEFITS
- Non-funded income generation through charges per transaction/commissions.
- Mobilization of deposits.Funds collected are credited to the provider’s trading account held at the bank.
- Bank’s customer loyalty resulting from the convenience offered by the efficiency of direct debit transfers.
- Improves accuracy
- Timely and reliable 24x7 local customer support
- Standard and customized operational and management reports
- Gives you a competitive edge