As a service provider, isn’t this your recurring concern? You have convinced the customer about the efficacy of the product she is about to subscribe to. The mandate has been filled and signed. It will take 2 weeks to process the mandate. Ample time for the customer to change her mind, which she often does.
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Online payments are no more about exchange of money. It is also considered as a stamp of trust, an important factor for a great user experience and a metric of conversion.
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Money transferred to a wrong account using NEFT is something you might have experienced in the past. The bigger problem would be to retrieve that mistaken payment from that account. Therefore to avoid such mishaps we need to take the step of validating an account before the transaction takes place.
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Ever sold a subscription to a customer and then waited for 2 weeks to get your mandate approved? Wouldn’t it be great to get your mandate approved in less than 2 days at a lesser cost with lesser hassles for your customers? If your answer is yes to both the questions, you have come to the right destination.
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