Olympus |
e-NACH
Automate recurring
payments and collections
for your business
Facilitate a simple and hassle-free process for payments and collections through quick and reliable transactions
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Automated
Reminders
Convenience
Data
Security
Improve your
business collections
with
virtual accounts
Digital
Mandate
e-NACH allows users to register mandates digitally, reducing the time involved
Streamlines Payments
It automates recurring payments and collections and simplifies business processes
Timely Collections
It reduces errors, streamlines the payment process, and ensures timely collections
One-Time Authentication
The automated payments made via E-NACH require one-time authentication
Cost
Savings
It helps eliminate variable costs required for follow-ups, invoicing, operations, etc
Plug & Play Integration
It provides customers a hassle-free and smooth authentication as compared to physical NACH and can be easily integrated via plug and play method
Automate business payments and
collections
with e-NACH
How does it work?
1/4
Log in to EnKash and register the business for e-NACH
Got Questions?
Don't worry! Our FAQs section will help you learn about e-Nach in detail
What is an e-NACH mandate?
Electronic National Automated Clearing House or, e-NACH is a way to automate recurring payments like electricity bills, insurance premiums, SIPs, telephone bills, and other utility bills with a bank account.
How do I register for e-NACH online?
Login to EnKash
Register the business for e-NACH by filling in the necessary details like personal information, bank account details, and the amount to be authorized for transactions
Submit the details and wait for verification
An intimation regarding registration approval will be received on the registered email ID and phone number
How are e-NACH and e-Mandate different?
| Basis of Differences | e-NACH | e-Mandate |
|---|---|---|
| Governing Authority | e-NACH is governed by the National Payments Corporation of India (NPCI) and covers over 40+ banks. | e-Mandates are governed by individual banks. |
| Types of Payments | e-NACH excels in automating recurring payments. | e-Mandate provides versatility, accommodating both recurring and one-time transactions. |
| Control | It offers automated processing with predetermined schedules. | It provides flexibility to initiate transactions as needed. |
| Usage | It is commonly used for subscriptions, loan repayments, and utilities. | It is used for various payments including ad-hoc payments. |
What are the advantages of e-NACH and e-Mandate?
Both e-NACH and e-Mandate bring efficiency to payment processing in businesses
E-NACH has replaced the manual methods of authorization and e-Mandate has eliminated the need for paperwork, reducing workload
e-NACH ensures timely collection with predetermined schedules and removes the need to be involved manually
Both these automation processes have fastened the transaction processing enabling quicker cash flow
Customers can easily make recurring payments without any friction in the process
e-NACH and e-Mandate can be customized as per business requirements and can be scaled easily as the business grows without disrupting the payment processing
Transactions processed via e-NACH and e-Mandate are digitally encrypted which eliminates the risk of data violation
How do I cancel my e-NACH mandate?
e-NACH can be canceled online by logging into the NACH mandate portal and selecting the mandates to be canceled.
Is e-NACH secure for business payment?
e-NACH is a secure and reliable payment solution that reduces the risk of fraud usually associated with manual payment processing.
Does e-NACH resolve cash flow for businesses?
e-NACH integration enables a consistent cash flow by automating recurring payments and simplifying financial operations. This automation allows timely collections, therefore, improving liquidity in the business.
How to set up automotive e-NACH payments?
Fill out the e-NACH enrolment form
Login and select the NACH tab
Choose the payment debit type to be auto-debited every month
Register and validate the data
Enter bank account details and complete the e-Mandate form and choose between net banking and debit card
A reference number and mandate registration confirmation message will pop up
How to enable e-NACH with EnKash?
Register on EnKash
You will be provided with e-NACH with an API integration which can done easily with a plug-and-play method
You can set the recurring payment for both your monthly payments and collections
xSeeking further understanding about e-NACH?
The automated process of collecting funds from customers regularly for monthly subscriptions, loan repayments, utility bills, and insurance premiums with electronic authorization is e-NACH. It helps streamline the payment process by eliminating human interaction and reducing errors, promising timely collections.
