AUTOPAY Automatic Payment Solution is a product developed for recurring payments and direct debits/credits. The solution provides an efficient and effective online real-time platform for managing payments to or from many beneficiaries, by transferring funds between accounts based on standing orders or schedules.
AUTOPAY enables Organisations to make mass payments to multiple recipients or beneficiaries. It has feature to store banking details for ease of re-occurent transactions such as paying Staff salary, Vendor Payments, Distributors,co-operative members and other stakeholder payments. It is highly flexible, the beneficiaries get paid quickly, an email notification is sent upon completion and payments can even be tracked when necessary.
The beneficiaries have to be uploaded before bulk payment uploads can be made. A beneficiary needs to be uploaded only once into the system.
Organisation can choose to manually upload an excel document to AUTOPAY; and the system will do the splitting for payments to respective Bank accounts. The can work as a standalone or integrated to your existing solution.
Specifically, AUTOPAY support synchronisation with ERP and other applications backend – if an organisation has existing software, portal or infrastructure to connect it with.
How It works
AUTOPAY comes with a transaction manager that fetches a particular batch of transactions and loads it in the transaction schedule. Through the Interswitch network, the customers (e.g. employers) account is fetched (in this case) from the database of the organization and is debited on due date at the Interswitch member bank where his account is domiciled.
The database must also have the names of the employees, the bank where their accounts are domiciled and their account numbers. The employees are required to have accounts in any Interswitch member bank. Presently all the major banks in Nigeria are on the Interswitch network.
When a debit is unsuccessful, the solution attempts it periodically for a pre-defined number of times. A schedule of both successful and unsuccessful payments is produced in a customer-defined format.
HOW TO PROCEED
To be setup on AUTOPAY, Fladio International Nigeria Limited can help you facilitate the entire process swiftly and fast; using our strategic partnership with Interswitch. We will provide you relevant forms, documentation and support – FREE of charge. Contact us today for further inquiries, via: email@example.com, call (+234) 080-9502-9999.
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