Step 6 - Transaction
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The Transaction Screen is where you can finalize the payout and repayment details for the client’s loan. To ensure accurate processing and legal compliance, you’ll need to provide the following information - shown in the screenshot below.
Field
Description
Instructions
Reason and Purpose of the Loan
A brief description of why the client is requesting the loan, required for legal and regulatory purposes.
Click the dropdown to view available options and select the most appropriate one.
Payout Method
The method used to disburse loan funds to the client, with Wallet being a popular choice.
Click the Payout Method dropdown field to view all available payout methods and choose the option that best suits the client’s preferences.
Repayment Method
The client’s preferred method for repaying the loan, with DebiCheck as a common option.
Select the preferred repayment method from the dropdown list of available options.
If the client has chosen DebiCheck as their repayment method, you’ll need to select the appropriate authentication option for the transaction.
Below is a breakdown of the available authentication methods for each option:
TT1 Delayed: This method will require approval by 10 PM on the due date. There may be a delay in processing.
TT1 Realtime: Instant approval is provided for this method, typically within 120 seconds of your confirmation.
TT2 Delayed: Similar to TT1 Delayed, but approval is processed in batches, which may result in a slight delay.
TT3: Requires the client to verify their identity using a card and PIN at an ATM, mobile banking app, or USB terminal.
SEFT: Like TT3, this method requires the client to authenticate via their card and PIN through a mobile banking app or USB terminal.
For repayment methods that require a linked bank account, the system will prompt you to create or update the client’s bank account information. This ensures that the loan funds are sent to the correct account, and future repayments are processed correctly.
This step is only required if the repayment method selected is Debit Order or EFT (Electronic Funds Transfer). To begin the process, click on the Repayment Account button, which will allow you to either view, edit, or create a new bank account for the client.
If creating a new bank account, you will need to input the client’s banking details. Ensure that all the provided information is accurate to avoid any delays in processing.
Saving and Linking the Repayment Account
Once the bank account details are entered, click Save to confirm and link the account to the client’s profile. This action ensures that all future loan repayments will be deducted from the designated bank account.
For added security, Mobiloan requires you to verify the newly created bank account using the Account Verification Service (AVS-R). This service verifies that the billing address associated with the bank account matches the client’s information on file with Mobiloan.
To initiate the verification process, click the AVS button. This will take you to the AVS-R page.
AVS-R Screen Layout and Process
On the AVS-R page, select the button located at the bottom right corner of the screen to initiate the verification. The system will automatically generate the AVS-R result, which will appear on the screen.
If the AVS result is successful, you can proceed to the next step.
If the result is unsuccessful, you may need to recheck the client’s information or contact Mobiloan support.
Once you receive a successful AVS result, the next step in the process is to capture the client’s required documents. Simply click Documents to continue with the workflow and upload any necessary files.
