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The shift from RMS to RM: What it means for SA’s debit orders

James

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James

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The South African debit order landscape has undergone significant transformations to enhance security and efficiency.

 

Central to this evolution was the introduction of the DebiCheck debit order system.  

 

The South African Reserve Bank (Sarb) dictated the implementation of a new payment stream in the early morning processing window where authentication by the payer occurs prior to presentment against the bank account.

 

This required the industry to find authentication solutions suitable for the non-authenticated early debit order (NAEDO) non-face-to-face industries, with authentication being possible using USSD as the minimum standard for all banks.

 

Listen to the full article here: https://www.moneyweb.co.za/moneyweb-opinion/soapbox/the-shift-from-rms-to-rm-what-it-means-for-south-africas-debit-orders/

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