- Real Pay is a digital payments solutions company that operates in Eswatini, Botswana, Namibia, South Africa, Zambia, Lesotho, and Uganda
- Normal Debit Orders enable users to collect payments from all commercial banks in the country.
- Automization of the clearing house has been a massive enabler for this launch
Photo Credit: www.insidebiz.co.sz
By Ntokozo Nkambule
Real Pay has launched a new product in the country, known as Normal Debit Orders. The company had all along been using the Real-Time Debit Orders system in the country, but the biggest challenge has been that users can only do a debit-order on FNB Bank accounts. The Normal Debit Orders System on the other hand enables users to collect from all commercial banks in the country.
“To be honest our clients have been calling for this product for a long time, and it was important that we heed to their demands”
Real Pay is a digital payments solutions company that operates in Eswatini, Botswana, Namibia, South Africa, Zambia, Lesotho, and Uganda. The company’s Head of Sales & Marketing, Luan Cloete, when launching the new product at the Hilton Garden Inn, noted that they have been working tirelessly to ensure that their clients were able to reach other banks in the country when collecting payments. “Since 2010, we have been using the Real-Time Debit Orders system, which is super-efficient, but the challenge is we can only do payment collections using FNB. This new system enables us to use all commercial banks in the country” he noted.
When presenting the new product, Cloete, did, however, state that the major difference between the Normal Debit Order and Real Time Debit Order is that the former can take up to five business days for amounts or payments to be settled, yet the Real Time Debit Order is instant.
He said despite this disadvantage their clients had been calling for this product. “To be honest our clients have been calling for this product for a long time, and it was important that we heed to their demands. We certainly believe, it will be more convenient for all of our clients who are interested in using other banks” he said.
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