DigiCash Review

INTRODUCTION TO DIGICASH

DigiCash is a leading debit order company in South Africa.

DigiCash allows its users to optimize their revenue by wholly automating their regular collections from customers, as well as easily conducting payouts to staff or creditors and other debtors.

As such, DigiCash offers four specialized kinds of services, which consist of debit orders, smart debit orders, EFT Payout solutions, and effective account verification.

To date, DigiCash has moved more than R 13 billion for its clients, and the company’s state-of-the-art web console is structured to allow users 24 hours, 7 days a week, access to the collection and payout platform, giving clients complete control over payments when and how it suits them.

DigiCash is registered with all relevant payment associations and is a member of the Payments Association of South Africa (PASA). Adherence to such industry bodies ensures that its debit order collection and EFT services comply with all industry standards.

PASA is the South African association elected by the South African Reserve Bank to manage and regulate all payments and collections made in the country. Their mandate covers all debit order collections, EFT payouts, and credit card payment gateway transactions.

To maintain its membership with PASA, DigiCash must adhere to several conditions, including:

• Adhering to collection laws
• Ensuring that all its customers have mandates to collect from their merchants
• immediately reacting to any disputed collections

DigiCash’s membership in PASA is additional evidence of its desire to bring the highest standards of service and accountability to its business practices.

In October 1998 PASA was officially recognized by the South African Reserve Bank as a payment system management body in terms of the National Payment Systems Act and its goal is to ensure that the South African payments environment operates to world-class standards.

PASA achieves this by requiring members to align with the SARB’s National Payment Systems policies and principles and implementing infrastructure and processes that deliver interoperability and innovation, efficiency and transparency, flexibility, and legitimacy and certainty for participants.

DigiCash is also a member of the Associated System Operators (ASO) and the Payment System Stakeholder Forum (PSSF).

The state-of-the-art web console of DigiCash is structured to allow its clients 24/7 access to the collection and payout platform, giving them complete control over their payments at any time.

They realize that merchants need to be freed up from worrying about paying staff on time or ensuring that monies owed are collected consistently and without incident.

Bank-level security ensures that all transactions done with DigiCash are using completely secure channels. For peace of mind, however, DigiCash is insured for up to R100 million, providing additional peace of mind for a business owner and his business.

When a merchant makes use of DigiCash he can optimize his revenue by fully automating any regular collections from customers, payouts to staff and any other debtors or creditors.

Debit Orders mean there is no admin required while you control your cash flow. Effective cash flow is the key to every business and managing it can be a trying experience when clients do not pay on time, hence the DigiCash online debit order system is perfect for enabling a business owner to take control of his business’ cash flow.

Not only can you be informed about which clients pay on time and who those are that you need to be chasing for payment, but the system is tailored to suit the urgency of any funds that need to be collected from customers.

You can query your debtors’ bank account until you are paid. The Non-Authenticated Early Debit Order, what is referred to as a “Smart Debit Order”, makes sure there are sufficient funds in a client’s account before collecting payment. While a normal debit order will either collect payment or fail to collect the funds, Smart Debit Orders keeps checking back and thus guarantee that you will get paid.

With DigiCash you can save money and ensure synchronized payouts. An integral part of business operations is overseeing the payment of staff and suppliers, which can be very time-consuming as well as costly. Therefore, DigiCash is committed to helping merchants save thousands of rands with its EFT payout solutions.

With DigiCash you can ensure that your client information is correct. All successful businesses must operate on an amount of trust and that is why the Account Verification Service (AVS) of DigiCash connects to all major banks to ensure the information a client provides to you, is correct and that you can be assured that the incidence of failed debit order collections will be kept to a minimum.

You can save up to 70% by eliminating unnecessary bank fees with an industry-certified debit order collection process.

HISTORY AND HEADQUARTERS OF DIGICASH

The DigiCash head office is located at The Forum, Century City, North Bank Ln, Cape Town, and its website has been in operation since 2015.

It is a leading debit order company in South Africa that is affiliated with all major South African payment associations because PASA requires members to align with the SARB’s policies and principles.

Since it came into operation, DigiCash has moved more than R 13 billion for its customers and the company’s state-of-the-art web console is structured to allow users to optimize their revenue by completely automating regular collections from customers and payouts to all creditors and debtors.

The tiered management system allows for several types of users, to allow businesses to keep a closer hold on their sensitive company data.

SERVICES AND FEATURES OF DIGICASH

DigiCash allows its users to optimize their revenue by automating regular collections from customers, as well as easily conducting payouts to staff or creditors and debtors.

As such, DigiCash offers specialized kinds of services, which include debit orders, smart debit orders, EFT Payout solutions, and effective account verification. These services include the following:

Account Verification

DigiCash help to ensure your client information is correct. Its Account Verification Service (AVS) connects to all major banks to ensure the information provided by your client is correct and that you can rest assured that the occurrence of failed debit order collections will be kept to a minimum.

EFT Payout Solutions

Overseeing payment of staff and suppliers is fundamental to business operations, but can be very time-consuming and frustrating, leave alone the fact that it is costly too. With the EFT Payout Solutions of DigiCash, you can save thousands of rand.

Debit Orders

A busy merchant would prefer no admin while he controls his cash flow. Effective cash flow is the key to a business and managing it can be an annoying experience when clients do not pay on time. With a DigiCash online debit order system, a merchant is enabled to take control of his cash flow. Not only can he be notified which clients pay on time and who he needs to chase for payment, but it is tailored to suit the urgency of the funds that need to be collected.

DigiCash offers a complete Debit Order Collection system, enabling a merchant to collect recurring payments from his customers without the hassle or time-consuming admin. Debit Orders are a method of collecting money from a bank account with the permission of an account holder. It is mostly used to collect monthly subscriptions, premiums, or repayments. It comprises simple and efficient ways to collect money including recurring and once-off debit orders as well as Same-day or Two-day services.

The Non-Authenticated Early Debit Order, what we refer to as a “Smart Debit Order”, makes sure there are sufficient funds in a client’s account before collecting. Whereas a normal debit order will either collect or fail to collect the funds, Smart Debit Orders keeps checking back – guaranteeing that you are paid.

Increase accuracy

Accuracy is of utmost importance when making any payments, which is why DigiCash ensures that you pay the correct bank account every time by using its bank account verification service.

Greater flexibility

With a Dated Payments service, all your payroll payments reflect on the employee’s accounts on the same date at the same time, irrespective of where the bank account is held.

Stay in control

Extensive reporting including statements, batch, and audit reports, as well as payment notifications, ensure that you are kept in the loop of all payment aspects.

Creditor Payments

You can process creditor payments more efficiently and safely. Creditor payments may take up valuable time, can be admin-intensive, and can increase risk in the day-to-day running of a business. Using DigiCash will increase your efficiency and make payments confidently.

PAYMENT METHODS ACCEPTED

DigiCash accepts convenient payment methods including Instant EFT, Bank EFT, Credit Card, Visa Checkout, Cash Payments, and QR using major wallets or banking apps.

SAFETY OF DIGICASH

Entrusting a third-party supplier with your money is not a decision taken lightly by many businesses which is why DigiCash takes internet security very seriously.

The secure customer area of its website uses the HTTP secure protocol to safeguard customers’ data. Whenever you log in to the members’ area to view debit order collections’ status or upload a new EFT payments schedule, you will notice the little padlock that appears in the website address area of your browser.

DigiCash has been audited by Thawte who issued them with a security certificate that ensures that once you enter the members’ zone, a series of multi-dimensional security checks take place.

At first, you will be asked to present tri-factor authentication with a username, a password, and a PIN, all inputs that are first measured against authentication details held for you in an encrypted database on the DigiCash server. After gaining access to the server algorithms are used to encode and decrypt data entered to hide and protect any sensitive information.

When communicating with banks to submit debit order requests and load transactions to an account DigiCash makes use of a secure socket layer (SSL) and transport later security (TSL) encryption. SSL and TSL are cryptographic tools that work in conjunction with one another to ensure that confidential information is encoded so that only the trusted server can decode and read the information.

If ever you suspect that your username has been compromised, either because you have shared it with someone or an employee who had access to the members’ zone has left, DigiCash can curtail their rights remotely.

DigiCash is registered with all relevant payment associations and is a member of the Payments Association of South Africa (PASA). Adherence to such industry bodies ensures that its debit order collection and EFT services comply with all industry standards.

CUSTOMER SUPPORT

DigiCash can be phoned, faxed, or emailed. Alternatively, a contact form on the website can be used to reach a customer support team.

SUMMARY

DigiCash is a leading debit order company in South Africa and is affiliated with all major South African payment associations like PASA.

DigiCash’s state-of-the-art web console allows users to optimize their revenue by automating regular collections from customers and payouts to creditors and debtors.

DigiCash EFT Payout Solution services reduce costs, and the hassle and time-consuming aspects of processing payment orders and DigiCash’s Account Verification Services allow users to make sure their client has given them the correct details.

FAQ

What features must be considered when evaluating a payment gateway for your needs?

• Easy integration
• Detailed reporting
• Good invoicing options
• Multiple payment options
• Fast processing speed

What is a payment service provider?

Payment service providers connect merchants, consumers, card brand networks, and financial institutions to deliver a simple payment experience for merchants and their customers by processing payments quickly and efficiently.

What is DigiCash?

DigiCash is a leading debit order company in South Africa offering a fully managed payment service solution for businesses to accept payments online.

Is DigiCash secure?

The secure customer area of its website uses the HTTP secure protocol to safeguard customers’ data. When communicating with banks to submit debit order requests and load transactions to an account DigiCash makes use of a secure socket layer (SSL) and transport layer security (TSL) encryption. DigiCash is registered with the Payments Association of South Africa (PASA).

Can I Accept International Payments with DigiCash?

Yes, you can accept payments issued anywhere in the world.

Can DigiCash Process Mobile Transactions?

Yes, the product is ideally suited to mobile app payments.

Can I use DigiCash to process recurring transactions?

Yes, its products have been designed for recurring transactions.