Rapid Pay Collect offers a highly secure and cost-effective electronic fund transfer (EFT) payment system – perfect for payroll and creditor payments.
Aside from our lowered transaction costs, our automatic CDV (check-digit validation) system pre-validates bank accounts to confirm that account numbers are consistent with bank and branch rules, thereby reducing the number of returned or rejected transactions.
While you can load beneficiaries and process single transactions, we also support approximately 80 different file formats for batch importing and processing of large-volume transactions. If none of those file formats work for you, we can create a bespoke format for you.
Payments can be processed through all the South African banks. We can also make payments to Lesotho, Swaziland and Namibian bank accounts.
The service can cater for real-time, same-day, one-day (overnight) or future-dated payments.
THE PROCESS:
1. Load Beneficiaries
Select from your pre-loaded beneficiaries or upload your beneficiaries with a file upload through our secure Web platform, via secure FTP or secure API.
2. Transfer Funds
Transfer the funds to cover the total of your batch. We can even automate this pay-over by linking your bank account to our banking profile.
3. Funds are Matched
Once we have received notification that the funds are available, these are matched with your batch, which is released to the bank for processing.
4. Beneficiaries are Paid
The funds are paid into your beneficiaries’ accounts.
5. View Confirmation Reports
The secure Rapid Pay Collect platform will provide you with comprehensive reporting on all your payment transactions.
THE BENEFITS:
1. Fully Secure
All financial data is encrypted and housed in a category-5 biometrically-secured data centre. Our data assets are protected by iris-scan identification systems, day/night vision cameras and more. Our systems are regularly audited by our banking partners.
2. Flexible
Process single or batch transactions. Use our secure Web-based platform or our API to integrate our services into your own systems.
3. Superb Support
Our helpful, knowledgeable support and Help Desk team will be able to provide assistance if you have any queries during the payment process.
4. Lower Costs
Aside from lower per-transaction fees, we also pre-check account details to reduce the number of returned transactions. You can also couple this with our bank account verification service for additional peace-of-mind.
5. Tailored
Assign your administrators to different user roles, each with their own permissions and capabilities.
6. Comprehensive Reporting
Your feedback data is at your fingertips. Exportable batch and audit reports are provided to manage and measure successful and rejected payments.
For ALL your payment needs through the Rapid Pay Collect powerful and secure transactional platform, please contact our Sales Team at: sales@rapidpaycollect.co.za
If you want to apply for a facility with Rapid Pay Collect, please find our Application Form attached hereto.
Please email our Sales Team at: sales@rapidpaycollect.co.za with the fully completed application form as well as the supporting documents as requested.
For your convenience, we have also attached our API Specifications document, for Debit Order Collections and Payments, for integration into your own software systems>>>> See attached API Technical Specification Document.