Electronic Debit Order Mandates
An electronic debit order mandate (e-Mandate) a digital instruction that a bank account holder gives to the bank, to allow a third-party to collect an amount directly from the bank account either once-off or on a recurring basis. e-Mandates must comply with the requirements set out in the ECT Act of 2002, PASA regulations, PCI DSS compliance, and sponsoring bank requirements. Netcash e-Mandates have been approved by the banks.
Note: A “tick box” on a website is not compliant/acceptable.