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NACH - eMandates FAQs
NACH - eMandates FAQs
David James avatar
Written by David James
Updated over a week ago

FAQs

What is NACH?

The National Payments Corporation of India (NPCI) offers to banks, financial institutions, Corporates and Government/s a service termed as “National Automated Clearing House (NACH)” which includes both Debit and Credit. It shall be referred to as NACH. NACH (Debit) & NACH (Credit) aims at facilitating interbank high volume, low value debit/credit transactions, which are repetitive in nature, electronically using the NPCI service.

What are the types of authentication modes available to approve mandate creation requests?

There are two authentication modes available - Internet banking and Debit card

What is the role of the Volopay customers in the eMandate creation?

Volopay customers must verify whether all the mandate details they are going to authenticate are correct. Select the mode of authentication and authenticate the mandate duly providing correct credentials.

How will the customers provide their credentials to authenticate?

For “Internet banking” authentication, customers will be prompted to enter their netbanking login and password credentials. Whereas for “Debit card” authentication, Debit card number and OTP details will be requested. Banks may introduce additional checks and balances as well, as per their internal policies.

Is there a cap on the maximum mandate amount?

Yes, for eMandates, a maximum amount of INR 10 lakhs can be set while creating a mandate as per NPCI. However, for Volopay India customers, mandates for SaaS fee collection will generally be created for approximately between 70,000 INR to 1,00,000 INR.

Why should Volopay customers approve mandates for up to 1,00,000 INR if their subscription fee is substantially lower than that?

Please note that the maximum amount entered during mandate creation is the upper limit for the highest plan available with Volopay. The debit request made each month will be as per the platform usage.

Exact details of mandate creation request amount and frequency will be decided by our Credit & Finance team. We want Volopay customers to understand that they will be apprised of the presentation of the mandate prior to the actual debit being made and the debit can be stopped by cancelling the mandate from the customer bank’s portal as per RBI/NPCI norms.

Please note that cancelling a mandate without any valid reason or prior intimation and resulting in a delay in payment may lead to temporary loss of access to Volopay platform.

How many mandates are required to be authenticated by each customer?

For SaaS fee collection, one mandate must be approved by the customer towards platform usage fee collection based on their subscription plan details and activity billing.

For further information on this, please get in touch with your account manager from Volopay or write an email to '[email protected]' and we’d be more than happy to provide any additional clarification as required.

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