Direct Debit [Mandate Management]

Fincra now enables you to make a direct debit from your customers NGN bank accounts.

Overview

The Mandate Management API enables Merchants to create debit mandate instructions on a bank account of its clients/customers for service(s) rendered or product(s) sold.

Use Cases:

  • Directly debiting a customers bank account
  • Managing recurring payments.

Note, a mandate typically takes between 24 - 48 hours to be approved by the domiciliary bank. For a mandate to be in effect, the account owner would have to authorize the mandate request, which would me made known to them by their bank.

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Handling Mandates on the API level