Step 6 - Transaction

Finalizing Payout and Repayment Options

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.

Authentication Methods for DebiCheck Repayments

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.

Linking a Repayment Bank Account

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.

Creating a New Bank Account

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.

Account Verification Service (AVS-R)

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.

Secondary backup bank account for dual debit order

This feature is useful for clients switching to a new bank. By allowing deductions from both accounts, consultants can create debit orders to avoid missed payments.

Debit orders instructions are created on both accounts at the same time. If one is successful and the other fails, the repayment updates with the successful debit. If both succeed, the system prevents over-collection and refunds any extra payment to keep client trust.

How to Enable Dual Bank Accounts for Debit Orders ?

1. Enable the Secondary Bank Account Option

   • Tick the checkbox Include secondary backup bank account.

   • If you don't see this option - ensure that this feature is enabled on the Category Setup

2. Add Both Bank Accounts

   • If two accounts are already registered on the client’s profile, simply select a Primary Bank Account in the left field and a Dual Bank Account in the right field.

   • If only one account has been created so far:

     • Click the Secondary Options button at the bottom-right corner of the screen.

     • Select Bank Accounts.

     • Add the second bank account to the client profile.

     • Return to the Transaction screen and select both accounts.

3. Verification Process (AVS)

   • Once both accounts are selected, the system automatically launches a dual verification flow.

   • An Account Verification Service (AVS) check will be performed on each bank account to ensure validity before repayment processing.