Smart Debit Orders

Non Authenticated Early Debit Order, or NAEDO as it is more commonly known, is a collection system identical to that of a debit order, but with one crucial difference: it first makes sure that there are sufficient funds in the account before it attempts to run.

For this reason, we like to refer to this as a Smart Debit.

DigiCash’s Smart Debits are open to any size business – from small entrepreneurs to listed corporations.

INTELLIGENT DEBITING

Whereas a traditional debit order will run once, and either have collected the requested funds or failed. If the funds become available the debit will be run and you collect your money. If there is not enough money, it’ll go into sleep mode and “ping” the same account several more times that day.

KEEP TRACKING THE CLIENT’S ACCOUNT

As mentioned, a Smart Debit will try several times per day to debit the account your requested funds. In addition to this, you can actually specify how many days you’d like to track the account for. For each day that you track, the Smart Debit will “ping” the account several times, for as many days as you specify.

REDUCE YOUR FAILURE RATE

One cannot help but improve their collection rate with Smart Debits because of the way they work. You can make it work for you by learning when your clients tend to get money in their account. What typically happens is that there will be a couple of days where there is money in the account, and your Smart Debit will always succeed on that specific day. At this point, we’d recommend moving from a Smart Debit system to our normal debit order system, as the later is less expensive.

FOCUS ON YOUR BUSINESS, NOT YOUR DEBTORS

Knowing that you’ve got a Smart Debit running on your clients, making sure you get your money as soon as it becomes available, allows you to focus on growing new business, and not worrying about getting paid that which you’ve already earned.

DESIGNED FOR SMALL BUSINESS

Born out of the National Credit Act, NAEDO is intended to give all creditors an equal opportunity to collect funds from debtors. In order to make the process as fair and equitable as possible, the National Payment Systems Act ensures that transactions are randomly presented for payment. This prevents any one creditor being able to consistently jump the queue and receive preferential payment.

REAL TIME FEEDBACK

Via our web interface we provide a series of reports which allow you to identify transactions which were rejected; successful payment; unpaid transactions; and transactions which are being disputed by the customer.

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