textDebit™
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textDebit™ is a mobile payments service that allows customers to make multiple, variable payments to an account using SMS. TextDebit will manage all SMS funds transfers, including payment processing and end of day reconciliation of credits and debits. The customer can either respond to a conventional paper bill (Ad hoc Payment) by paying using their pre-registered mobile or respond to a request for payment (Demand Payment) from a system-generated text message. The following describes the 2 ways by which payment can be made:
Ad hoc Payments
To make an ad hoc payment the customer must initiate an SMS to a short code containing the amount they would like to transfer. The message should include a keyword to identify which product type the transfer is intended for - e.g. '£100.00 Platinum' would request a £100 funds transfer to the customer's Example Card.
Demand Payments
To make a demand payment the customer must sign up to receive monthly payment reminders. A payment reminder will state the minimum payment due and account balance for that month which the customer must respond to with the amount they wish to pay and a keyword identifying the payee account.
Authorised amounts are debited from the customers pre-registered card or account and credited to the issuer or supplier's account. This is provided as a managed service with all payments reconciled with the issuer or supplier and their respective merchant acquirer.