Describing the process
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1. Electronic Invoice Presentment Process
2. Payment
Process
3. Recon Payout
Process
1. Electronic Invoice Presentment Process
What is Electronic Invoice Presentment Process (IPP)
IPP refers to the process of delivering a bill owed electronically to a customer and furthermore, also allow the the customer to pay the bill electronically from anywhere, anytime
With postal mail delivery becoming redundant, Electronic Invoice Presentment is more efficient and trackable.
How does it work?
In order to start submitting bills electronically, a business (SP) needs to be registered and setup on the CYD Platform.
A Deposit Pre-Fix will be allocated to the SP. This Short-code needs to be prefixed to the normal deposit reference of the customer eg. the invoice number.
CYD will collect the daily payments and do a bulk payment to the SP on the next day that will contain all the previous day’s payments. More about this in the Recon Section.
Example:
Let’s assume the business is called “Direct Marketing Group”. We will allocate “DM” as the Deposit Pre-Fix.
Typically customers will use the invoice number as the payment reference.
Direct Marketing Group submits a list of bills to CYD to process containing:
CYD receives the information and prepares the electronic bill.
Note 1. As we cater for SME as well as enterprise companies, we can accept the bills in standard csv format, but can also do full custom API integrations.
Note 2. We can also provide the SP with a Self-Help Portal where they can submit Bill requests.
How is the bill delivered?
- Based on whether CYD received an E-Mail address or Cell Number or both, CYD will deliver to whichever detail has been provided.
- The bills then gets submitted to either or both the Customer Cell Number and E-Mail Address.
- The customer receives an E-Mail or SMS or both with an internet link that he can click on.
- From here the customer can both view and pay the bill.
For our Custom API integration, the presentment of the bill can also be done by the SP directly.
Examples of this could be in a Point Of Sales environment or Website or Mobile Application.
For API integrations, it is possible for the SP to present the bill for eg. in a Point Of Sale, Website or Mobile application environment.
2. Payment Process
This part deals with the customer payment from the provided link.
When the customer selects the Pay button, he is presented with the following payment methods:
EFT Payments
When the customer selects this option, he is presented with a list of banks to choose from:
Selecting each bank will provide the respective Bank account detail. Customers can opt to have the Bank detail e-mail or sent via SMS.
The system also shows the required Deposit Reference to be used.
Once the EFT payment is processed, CYD sends the payment confirmation to the SP and the payment value will be included in the recon and payout the next morning.
Cash Payments
Cash Deposits can be cash deposits done at ATM’s or Cash deposits done inside a physical branch.
When the customer selects this option, he is presented with a list of banks to choose from:
Selecting each bank will provide the respective Bank account detail. Customers can opt to have the Bank detail e-mailed or sent via SMS.
The system also shows the required Deposit Reference to be used.
Once the cash payment is processed, CYD sends the payment confirmation to the SP and the payment value will be included in the recon and payout the next morning.
Card Payments
Card payments include both Credit Cards and Debit Cards.
The following Cards are accepted:
When the customer selects this option, he is presented with a screen to enter his card detail such as Card Number, CVV, etc.
Depending on the Card Type or Bank, the customer may receive further request from the banking institution such as OTP.
Once the card payment is processed, CYD sends the payment confirmation to the SP and the payment value will be included in the recon and payout the next morning.
For API integrations, it is possible for the SP to present an iFrame which will allow the customer to enter card details and complete the card payment the SP Website or Mobile application.
3. Recon and Payout Process
Individual Payment Notifications
For every payment that CYD can identify (correct deposit reference was used by customer) and process, a notification will/can be sent to the e-mail address supplied by the SP.
These individual notifications can also be delivered by web services in the case of an API integration.
This notification will be done, regardless of the payment method that was used. The payment method will be indicated in the notification to the SP.
Daily Bulk Recon File
CYD, will on a daily basis, group all the payments processed for the previous day and submit a single report to the e-mail address as supplied by the SP.
This report can be used to see the individual breakdown of the payments that makes up the bulk daily payment from CYD to the SP.
This bulk recon information can also be delivered by web services in the case of an API integration.
Settlement Process
Dependant on the payment method used by the customer and the online merchant account of the SP, the SP can expect payments from the banks and card processors between 1 and 7 working days to receive the funds into the nominated bank account.
This bulk settlement can be matched to the recon file sent by CYD.
Scale as your business grows
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