How do I start accepting pre-authorized debits?
To start accepting Pre-Authorized Debits, you will need to sign up with a Pre-authorized debit processor. This will either be your bank or a third party.
Some banks offer this solution as part of their larger cash management platform. Every bank has different requirements for setting up an account.. Typically banks work best with large transaction volumes and are best suited for enterprise clients. However, banks don’t offer API solutions for custom integrations. You can expect a sign up fee, monthly fees, and batch fees.
The second way is to sign up through a Third-Party Payment Processor, like Rotessa. Third-Party processors are usually more accessible to small businesses, have a better customer experience, and offer advantages such as APIs and other integrations.
Once you’re setup with a processor, you can offer your customers the convenience of automatic bank payments. This all starts with a simple authorization to outline the payment terms.
What are Pre-Authorized Debits (PADs)?
What are the advantages of Pre-Authorized Debits?
What kind of businesses are best suited to use authorized debits?
How do pre-authorized debits work?
Are pre-authorized debits secure?
How do I start accepting pre-authorized debits?
What is an authorization and why do I need it for pre-authorized debits?
