NAEDO (Non-authenticated Early Debit Order)

By: Direct Debit  07-22-2012
Keywords: Debit Order, Payment System, Debit Order Collection

Non-Authenticated Early Debit Order (NAEDO) aims to level the electronic debit order collection playing field by creating an equal opportunity for creditors to collect funds from their debtors. NAEDO is a National Credit Act initiative launched in September 2006. NAEDO debit order collections allow for collecting up to R5,000.00 per debit instruction and run in a preferential, randomised manner before the standard EFT debit order run. This ensures that each creditor has an equal chance of successful collection. Credit tracking of up to 32 days may be included on NAEDO debit order instruction. If a debtor obtains funds within the tracking period these will be immediately debited to fulfill the NAEDO debit order.

Keywords: Billing System, Debit Order, Debit Order Collection, debit order services, Direct Debit, naedo, Payment System

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