The application automatically handles payments electronically with the various authorizations and approvals real time online without the use of cheque and cash. This will allow a company’s account to be debited while the beneficiaries’ accounts will be credited, while automatically updating all relevant records real time.

 

Corporate Pay can be used to make and receive payments such as salaries, allowances, entitlements, supplier payments, contractor payments from various sources all in one transaction. That is, One-to-many payments.

• Immediate Credit to Contractor/Staff account
• Maximizes the use of all available infrastructure for accessing Funds/Salaries 24/7
• Reports Available Immediately
• Time and Cost Savings
• Ensures Total Accountability and Discourages Fraud

 

 

There are two options for implementation:

Option A (Merchant performs processing)

1. Activate a merchant account with Spring bank
2. Provide the necessary staff for training
3. Internet access for uploading and payment approving officer(s)
4. Computers for the above officers

Option B (Spring Bank performs processing)
1. Activate a merchant account with Spring bank
2. Provide the necessary staff for training
3. Provide preformatted payment data on a regular basis

 

• Revenue Collections
• Payment Collections
• Contractors payments
• Salary administration.
• Real-time payments

Advantages
• Reduces handling costs
• Increase revenue
• Increase Customer Loyalty
• Secure as several authorization levels are set
• Data Security and integrity guaranteed.

 

AUTOPAY is a secure PC-based recurring payments and prepayment solution across several banks. The solution provides an efficient and effective online real-time platform for managing instant debit and credit transactions. In addition, the system comes integrated with the requisites business logic and payment engine that ensures the integrity of transactions
Benefits
• Corporate organizations benefits from reduced costs and increased revenue from extra service supply
• Banks and related payment processors benefit from the additional processing service charges
• Customers benefit from the the ease-of-use, speed and range of the payment services suiting their lifestyles.

• Inter-bank and Intra-bank direct debit transactions
• Inter-bank and Intra-bank direct credit transactions
• Online reports for successful and unsuccessful transactions
• Ability to retry transactions based on a pre-defined schedule until it is successful.

• Payment of staff salaries, suppliers, contractors etc across multiple banks (direct credit, one-off, across multiple bank accounts)
• Payment of utility bills, subscriptions, insurance, premium, leases, tithes etc (direct debit, recurring, across multiple bank accounts)
• Payment to other third parties( standing order, recurring or one-off, to a bank account or multiple bank accounts)

• Instant value to the beneficiary
• No need for all beneficiaries to open account in one single bank
• Ability to interact with all banks via one single source
• No need to prepare a schedule per bank and then issue multiple cheques.