A Direct Debit is an authority given by a customer to a business to debit their bank account or credit card for on-going or recurring payment. The amount may be fixed or variable depending on the arrangement with the customer. A Direct Debit differs from an Automatic Payment (AP) or a Standing Order in that the merchants would initiate the payment, not the customer.
A Direct Debit Bureau is an outsourced service or controlled environment for the management and processing of regular Direct Debit payments and payment plans. Flo2Cash direct debit bureau platform offers merchants with easy-to-manage cloud based system to manage complex recurring transactions, both from direct debit transactions and credit card transactions. It supports a number of payment channels with a common back-end processing engine that is designed with compliance and security in mind. From capturing the user’s authorization and processing the requests, to automating the recurring payments and managing the user’s amendments, Flo2Cash offers an end-to-end solution that is simple to use and scalable for all businesses.
Flo2Cash direct debit technology provides a wide range of flexible debit arrangements, including on-going variable debit, recurring debit and instalment payments. Flo2Cash offers a number of processing models to merchants. Merchants have the ability to administrate customer details and scheduled payments via the cloud-based merchant portal.
Automated Instalment Processing
he instalment, once set up, is run automatically according to the payment arrangement as agreed with the customer. The instalment will automatically end when the total instalment amount is fully paid off.
Automated Recurring Billing
Recurring billing of a fixed amount on a regular interval: weekly, fortnightly, monthly and more. The fixed amount is automatically debited on the payment due date.
Batch Upload
The batching system offers great flexibilities to merchants wishing to take more control over their payment processing and reconciliation processes. Transaction results are available 24/7 via the cloud-based merchant portal.
Send/Retrieve Transactions via API
Flo2Cash APIs offer excellent portability to merchant applications and systems. Merchants can automate direct debit initiation and reconciliation easily. It provides unparalleled flexibility and possibility to business payment solutions.
