Merchant Services & Cash Management
Equitorial Bank Plc Corporate Pay and Auto Pay
The Equitorial Bank Plc ’s Corporate Pay and Auto Pay allow Companies, Private Organizations and Government Agencies to automatically handle payments of salaries and third party payments (contractor, supplier, tenured workers, utility bills etc) with the various levels of authorizations and approvals incorporated into the payment process.
Corporate Pay and Auto Pay incorporate a One-to-Many payment scheme. In this scheme, the company is the one making the payment; the ‘Many’ is the List of people (Staff, contractors, suppliers etc) to pay. With the scheme, the company can automate payment to all staff at the click of a button; all payments are reconciled real-time into the appropriate staff/contractors accounts irrespective of the bank.
For all payments on the Corporate Pay and Auto Pay platforms, an audit trail with comprehensive reporting facility that the systems provide furnishes Organizations/Government Agencies with requisite information.
The Equitorial Bank Plc PayOutlet and PayDirect
These are solutions designed to allow Merchants collect payments from customers through the various branches of any Bank on the eTranzact and Interswitch platform.
The solutions make it possible for the Merchants to take advantage of the various banks in Ghana to consolidate collections into a single account from multiple banks into their account with
Equitorial Bank Plc via a Switch. With this solution, merchants can collect money from their customers from any location of any bank, and have money value routed into their specified accounts in
Equitorial Bank Plc .
In the context of these solutions, the merchant can be a service firm, a sales outfit, or even a church organization that has a wide network of branches throughout a city. The merchant can also be a government agency that needs to manage collection for public services. Using our platform, the objective of the merchant will be to accept payment using a wide distribution network of collection centers.
The Equitorial Bank Plc Remita
This solution is an electronic courier service that rides on secured e-payment platforms to deliver funds to banks account using payment schedules to relevant bodies. The solution enables customers to pay their staff, vendors, suppliers and other 3rd parties in any bank including microfinance and mortgage banks. The solution will enhance a Company’s operational efficiency in the collection of receivables from customers. It enables customers grant the Merchant (Company, Association, Govt. and private agencies), a ONE-OFF mandate to debit their accounts for scheduled payments to be made whenever applicable.
The Company, Association, Agency, etc will only need to upload a file containing the customers to be debited and their respective amounts unto the platform. This can be done daily, weekly, monthly or randomly as agreed between the Company and the customer. Remita, on the strength of the ONE-OFF mandate which is recognized by all banks, will simply debit the customers’ accounts in their respective banks and credit the Company’s nominated account(s) with
Equitorial Bank Plc . The customers’ account and the nominated account need not be in the same bank. Both the merchant and the respective distributors are automatically notified of all necessary details of each transaction.