e-Mandate is a financial technology by Paynet, also known as DirectDebit. Collecting recurring payments is now faster, cheaper and far more efficient. With e-Mandate, customers can authorize auto deductions from their Current/Savings Accounts.
Receive payments regularly once customers authorize auto deductions for any fixed amount each month by filling in an online form.
As agreed on the duration amount and time, the payment will be deducted from the customer’s account to be paid to the merchant.
Merchants can update the duration and amount with the approval of customers, and customers can also be given the choice to update their subscription.