Improve collections
Improve collections particularly in lower income groups where risk of payment being declined is higher.
Less disputes
All Authenticated Early Debit Order transactions are authenticated by the bank account holder.
Set collections anywhere, anytime
Use portable terminals to set up your Authenticated Early Debit Order collections.
It’s fast and efficient
Full transactional reporting and maintenance is available through convenient channels.
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How it works
- AEDOs enable the account holder to mandate the contracted future dated early debit orders through the use of their bank card (for example debit card) and PIN.
- In terms of the AEDO service, consumers are able to electronically authorise future dated deductions from their bank accounts for the payment of insurance premiums, loan repayments and asset purchases etc. at point of sale, by swiping their bank cards and entering their PIN numbers.
- As these deductions by the bank are authenticated by the consumer in person through an electronic signature, they cannot be repudiated by the consumer once paid, giving the service provider and consumer certainty of payment.
- The benefit of AEDO is that they are authenticated through an electronic mandate and therefore disputes are minimised. At present authentication can only take place at a physical terminal and thus telephone or internet mandates are not possible.
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Qualifying criteria
Frequently asked questions
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How long before a customer's payday should an instalment be loaded or cancelled?
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What procedure should be followed if a customer has a six-month loan and wants to settle his or her outstanding loan after three months?
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Can only one instalment be cancelled from a long-term loan?
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How would I know that a transaction was captured successfully?
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What is the difference between the instalment amount and the contract amount?
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Can I load more than one transaction for the same customer for the same payday?
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What time in the morning does Absa start to process transactions?
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Why is the last column of the website reports sometimes cut off?
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What happens if some of my customers only receive their salaries or wages after Absa has completed presenting the day's transactions?
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Will a transaction fail if there are insufficient funds in a customer's bank account on the first Submit Date?
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If the transaction value exceeds the amount available in a customer's bank account, will Absa automatically collect the lesser amount?
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Why does the Absa System sometimes collect the contract amount and not the instalment amount?
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If more than one transaction has been loaded for the same client on the same value date, will Absa process these transactions as one transaction or separately?
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When will Absa process a transaction if the customer's payday falls on a Saturday, Sunday or Public Holiday?
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How soon are the funds on successful transactions settled into my bank account and when will these funds be available?
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How soon are transaction reports available on the website?