Benefits of Direct Debit

Direct Debit is suitable for businesses that collect one-off and recurring payments with variable amounts. There are many benefits associated with using Direct Debit for payment collection. 

1. Safe

• Direct Debit in Malaysia is operated by PayNet, which has a secure payment infrastructure tightly regulated by Bank Negara Malaysia.

2. Convenient

• Merchants and customers will not have to worry about missing payment dates as recurring payments are automated with Direct Debit.

3. Cheaper

• The transaction fee for Direct Debit is significantly lower than other payment options like Auto Debit.

4. Flexible

• The payment collection date and amount are variable as long as the agreed maximum mandate amount is not exceeded.

5. Everywhere 

• More than 90% of Malaysians have an online banking account, which is the only requirement for setting up Direct Debit.