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Authorisation of Direct Debit Payments

Myriad Connect's authorisation service empowers banking customers with complete control over direct debit payments and all movement of funds from their accounts.

Authorisation of Direct Debit Payments

Authentication of ad-hoc debits has now become a requirement in many parts of the world as regulators have mandated that banks must solicit customer permission prior to removal of funds.

This protects customers from unscrupulous businesses attempting to take unauthorised payments and protects companies and banks with authenticated mandates to take direct debit payments.

Myriad Connect’s authorisation services enables the bank to provide a clear audit trail to the regulator that the correctly identified customer has authorised the withdrawal of funds.

How direct debit authorisation works

A bank wants to enable a customer to authorise the set up of a direct debit payment.

user attempts to add a new payee to a bank account
A bank system receives instruction to take payment for a direct debit order.
Customer is sent notification to authorise
Before payment is taken, the customer is sent a notification, including details of the direct debit payment, for authorisation.
Single tap response from user is communicated back
A single tap response from user is communicated back, other pieces of information are retrieved to verify the user and run SIM Swap detection.
Bank determines if a SIM swap has taken place
Bank determines if it is the validated customer providing authorisation, so payment can be taken; if the customer declines the payment an interactive session is initiated.
The Bank can further validate the veracity of the transaction
If the customer has declined to make the payment, they can choose another date to make payment or instead open up the conversation to determine how the customer wishes to proceed.