What is NAEDO?
Many business owners often question what NAEDO is, what it does, and how their businesses can benefit from it.
Non-Authenticated Early Debit Order, or NAEDO, is a type of early debit order instruction given to banks to process electronic payments earlier in the day. Subsequently, once a customer provides an authorised debit order mandate to a beneficiary of the debit order, the user can electronically collect payments against the customer’s bank account.
Traditionally, debit orders instruct the bank to debit the account on a particular date. However, NAEDOs, or smart debit orders, can track the bank account for several days until the payment is collected from the bank account. This gives the user an advantage of increasing their collection success rates.
ACPAS offers a payment solution that includes NAEDO transactions. This allows clients to track a customer's bank account for several days. When funds become available within the tracking days, the collection is automatically and successfully retrieved. Clients can also load NAEDOs in advance with minimal management and automate their payment collections function through managing, queuing, and submitting the NAEDOs.
NAEDO features and benefits
NAEDOs result in improved collection rates. When a debtor receives funds within the tracking period, they will immediately be debited to fulfil the NAEDO.
Fast transaction reconciliation. Successful or unsuccessful reconciliation is obtained, and the NAEDO tracking is immediately invoked if necessary.
A NAEDO saves on admin time and collection fees, provides same-day reconciliation to fast-track the debtors and payment process, and ensures you take payment from the correct customer through verifying accounts.
ACPAS provides for NAEDO transactions, which means that your business can process large volumes of debit transactions in batches and in real-time. As a NAEDO provider, we offer a complete automated debit order collection system to small businesses and large enterprises to collect monthly payments from your customers without manual intervention.
Discover the ACPAS solution
Learn more about the agile and robust payment collection software created by ACPAS. Get in touch with us today.
