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INTERNET BANKING

Z-MANDATE

If you provide subscription-based services requiring recurring payments from customers on a monthly, quarterly, or bi-annual basis, you can leverage Z-Mandate, our customized direct debit service to receive payments directly from your customer’s account. Through pre-authorized mandates from your customers, funds are remitted to your account on the scheduled due date.

Product Overview

Product Overview

To Merchant
• Ease of collection is assured.
• Retrial feature to debit unsuccessful mandates 10 days after due date.
• Reduction of administrative work and manual processing.

To Payer
• Ease of Payment.
• Notification via email of debit.

  • Setup Fee – NIL
  • Transaction Fee –N53.75 flat fee per transaction (including VAT)

Sign up Process

A Biller or merchant will need to provide the following:

  • A duly executed Z-MANDATE Application Form
  • Service level Agreement Form.
  • Indemnity
  • Merchant signs up on the platform
  • Uploads a mandate received from subscriber with necessary information.
  • The bank approves the mandate uploaded.
  • The subscriber gets debited the exact amount at the exact date(s) stated on the mandate.
  • The Merchant’s account is credited immediately.