NPCI’s digital mandate platform simplifies EMIs, payables, premiums, and other high-volume recurring online transactions.
e-NACH (electronic National Automated Clearing House) is an electronic mandate system that simplifies recurring payments. It’s built on the NACH platform by NPCI and benefits banks, NBFCs, telecoms, insurers, and corporations.
e-NACH streamlines recurring transactions, offering one-time authorization for automatic debits. No more manual premium payments. The process starts with customer approval via Debit Card or Netbanking, then moves through corporate, sponsor, and destination banks, considering customer attributes.
Lets users register mandates digitally, ultimately reducing the TAT
Schedule automatic payment of all recurring dues to simplify the process
Automated Payments require a one-time authentication via Netbanking or Debit card
Our Virtual Account Stack help to reduce manual reconciliation of debits
Reduce variable costs spent during follow-ups, invoicing, operations, etc
Provide your customers a seamless authentication as compared to physical NACH
EMI auto-debits can be set up by Fintechs or Marketplaces from the user’s account for loans or other services.
The E-NACH system helps merchants deduct monthly/annual insurance premiums from customers for life, health, automobiles, houses, etc.
It is now possible for vendors to automate the collection of payments for recurring services they provide to their clients.
It is now possible to process corporate payouts with ease. These include dividends, bonuses, salary, and other payout
It is now possible to process corporate payouts with ease. These include dividends, bonuses, salary, and other payouts.
UPI interoperability has been mandated by NPCI, which includes an 8-10 digit UPI ID. If it’s a 10 digit ID, the user’s mobile number needs to be used. By using a single ID, your business can transact with customers across any app of their preference, or facilitate the same for partners and vendors.
An e-mandate is an electronic version of a mandate, a standing instruction (SI) given to a bank or NBFC to periodically debit a fixed amount from the account of the customer authorizing the mandate.
e-mandates are helpful tools for recurring and one-time payments and are used for various reasons. Recurring payments for OTT subscriptions, utility bills, loan EMIs, insurance premiums, mutual fund investments, and subscriptions to gaming platforms all involve e-mandates in some form.
eNACH is the infrastructure on which recurring payments occur. e-mandates, on the other hand, are the instructions that govern these recurring payments.
eNACH e-mandates offer several advantages for both customers and businesses:
Seamless Payments
Strong Audit Trail
Simple & Easy-to-use
Cost-effective Payment Automation
Convenient Digital Workflows
Find out how your business can benefit from CKYC APIs for financial simplicity, better customer experience, and robust workflows.
Use our GST APIs to enrich and augment your data for vendor financing, bill discounting, and more.
Redefining Banking for You
Subscribe to get a bunch of helpful stuff sent to your inbox directly.
