Debit orders are a bit of a bug bear for companies and understandably so.

The process requires a company to get authorisation from a debitor via voice or signed paperwork.

This – as we’re sure you can imagine – slows the process down considerably. It makes sense then to take the process online. But how?

The answer to that question has been answered by Direct Debit and its E-Mandate platform.

“E-Mandate is a business-to-business fintech solution that allows customers to sign an electronic debit order mandate with a mouse, stylus or their finger, thereby giving debit order authority to the business,” Direct Debit co-founder Jaco Van Wyk explains.

The platform is approved by the Payments Association of South Africa (PASA) so debit orders signed electronically can now be authorised. A copy of the agreement (which can be customised) is sent to both the company and the debtor. These records are stored for seven years per PASA requirements.

“The solution allows both individuals and businesses to save on costs and lengthy waiting periods associated with the signing of paper based debit order mandates,” says Head of Ecosystem Development and Strategy at AlphaCode Chipo Mushwana. E-Mandate is a gold member of AlphaCode the club to be in for fintech entrepreneurs.

If E-Mandate sounds like a solution your company can use you can view a demo online and the platform will cost you between R399 to R999 depending on the solution your company needs.