eMandates application - custom software development
eMandates are electronic authorizations, mainly used to authorize future (recurring) direct debit transactions. The concept represents the digital transformation of the paper mandates into technology.
In Europe, SEPA regulation and the increase of eCommerce are the main drivers for the rise of eMandates. Checking a box will not do anymore.
B2B and B2C electronic mandates are currently not aligned in terms of process and implementations. This creates an extra layer of complexity in developing generic software that handles both scenarios. This poses big challenges for financial companies when it comes to developing a strong platform.
Creating a flexible and secure system could be the key though in tackling the future market of eMandates. The B2B process, where debtors issue the mandate to both the supplier and their issuer is considered to become the standard, but until then, support for both needs to be considered as B2C only needs to support the supplier mandates.
The main components of an eMandates application revolve around 4 main concepts: debtor authentication, transaction authorization, eMandates issuance to suppliers and financial institutions, eMandates management and maintenance, which is mainly revoking / updating the active mandates.
Maxcode & eMandates
Maxcode has implemented the first eMandates solution that was released in The Netherlands. Hundreds of merchants use the software developed by Maxcode to offer eMandates as a payment method to their customers. In building successful relationships with our clients our business insight and understanding of the market combined with our technical expertise and agile approach is key.
We understand eMandates implementations not only from a conceptual and protocol perspective, but through our experience with electronic payments and digital identity projects.
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