SA is getting 'a new debit order system' in May - here's how it will work
How the new debit order system will work The South African Reserve Bank (SARB) will introduce the Authenticated Collections AC/DebiCheck project from 1 May 2021 as part of its modernisation of the national payment system (NPS). This will then allow people to release funds from the accounts digitally when a debit order is sent over by either an individual or an actual company. “The project seeks to address increasing levels of abuse in debit order payment systems. Early debit orders will only be processed through the AC/DebiCheck system, while normal debit orders will still be processed late...
Source: thesouthafrican.com