MemNet provides the following functionality for the automatic collection of payments from members, that is payments that are initiated by the association rather than by the member. Instead of waiting for the member to make payment to you, these methods allow you, once the required details are provided to initiate the collection of payment from the member.
Before setting up any of these options, it is suggested that the association explore any legal or moral obligations they may have with respect to the collection of money from their members via these means.
Money can be collected from Credit Cards and / or bank accounts using the following methods which are described in more detail below.
Credit Card
Bank Account
Credit Card via SecurePay
Credit card details are held by SecurePay and charges initiated from within MemNet and processed in real time.
Only successful payments are recorded into MemNet.
Members can enter their own card details (saved directly to SecurePay), enter into a direct debit payment agreement (base do their available subscriptions) and manage their existing arrangement / credit card themselves via the Member Self Service module.
Requirements
- SecurePay account with tokenised payments enabled,
- A campaign to instruct / encourage members to enter their credit card details via member self-service and enter into a direct debit agreement. This functionality can be included in new member forms.
Pros
- Is the most secure and most advanced of the credit card options.
- Real-time payment processing.
- Only successful payments recorded, no need to dishonour failed payments.
- The amount and frequency of payment are driven by the member's subscription.
Cons
- Real-time processing of payments must be initiated by a MemNet user.
Credit Card via eWay
Credit card details are held by eWay and payments initiated from within MemNet and processed in real time.
Only successful payments are recorded into MemNet.
Members can enter their own card details (saved directly to eWay), enter into a direct debit payment agreement (base do their available subscriptions) and manage their existing arrangement / credit card themselves via the Member Self Service module.
Requirements
- eWay account with tokenised payments enabled.
- A campaign to instruct / encourage members to enter their credit card details via member self-service and enter into a direct debit agreement. This functionality can be included in new member forms.
Pros
- Is the most secure and most advanced of the credit card options.
- Real-time payment processing.
- Only successful payments recorded, no need to dishonour failed payments.
- The amount and frequency of payment are driven by the member's subscription.
Cons
- Real-time processing of payments must be initiated by a MemNet user.
Credit Card by other means
Credit card payments can be processed outside of MemNet and the details of the successful payments imported into MemNet.
Consideration needs to be given to the security of the credit card details that you store and manage on your members' behalf and the possible consequences of a breach of that security.
Requirements
- Members credit card details.
- A means to debit credit cards outside of MemNet
- A link (preferably member code) between the mechanism of debiting cards and MemNet. Required for importing payment details.
- A means to initiate and manage the details and debiting of credit cards.
Pros
- Allows you to utilise an existing service.
Cons
- Card details not accessible from MemNet / stored separately to your member data.
- Requires payment details to be imported into MemNet
Bank Account via ABA file
MemNet has the ability to generate a file in ABA format that can then be imported into most merchant banking software to debit others (members) bank accounts. When this file is generated, payments are recorded against the member and any failed payments need to be dishonoured.
Requirements:
- You need to have merchant software that accepts ABA files (all the major banks do).
- You need to enter your banking details under Administration/ System Configuration / Company Settings / Direct Debit.
- You need to collect and record the member's bank account details in their profile under Payment Method / Direct Debit Bank Account Details. At the same time, you need to enable the debit, set the frequency, amount and next payment date - these details determine when direct debit instructions are included in the ABA file and for how much.
Pros
- Allows payments to be taken from bank account.
- Payments are automatically recorded in MemNet.
Cons
- Requires payment file to be processed outside of MemNet through your banking software.
- Does not raise invoices for payments.
- Amount and frequency are not linked to subscription.
- This option collects payment only, an invoice needs to be created for that payment to be recorded against.
- The ABA file needs to be generated and processed through the bank whenever payments are to be collected in this way.
Bank Account via ABA file linked to member subscriptions
MemNet has the ability to generate a file in ABA format that can then be imported into most merchant banking software to debit others (members) bank accounts.
The amount of each payment is linked to their selected subscriptions.
When this file is generated, payments are recorded against the member and any failed payments need to be dishonoured.
Requirements:
- You need to have merchant software that accepts ABA files (all the major banks do).
- You need to enter your banking details under Administration/ System Configuration / Company Settings / Direct Debit.
- You need to collect and record the member's bank account details in their profile under Payment Method / Direct Debit Bank Account Details.
Pros
- Allows payments to be taken from bank account.
- Payments are automatically recorded in MemNet.
- Raises invoice for payments based on the members subscription.
Cons
- Requires payment file to be processed outside of MemNet through your banking software.
- The ABA file needs to be generated and processed through the bank whenever payments are to be collected in this way.
Bank Account by other means
Debits from bank accounts can be processed outside of MemNet and the details of the successful payments imported into MemNet. Such payments may be collected by a 3rd party on your behalf.
Requirements
- Members bank account details.
- A means to debit members bank accounts outside of MemNet
- A link (preferably member code) between the mechanism of debiting cards and MemNet. Required for importing payment details.
- A means to initiate and manage the debiting of credit cards.
Pros
- Allows you to utilise an existing service.
Cons
- Requires payment details to be imported into MemNet.
See also:
Comments
0 comments
Please sign in to leave a comment.