The Batch Debit Order (BDO) payment method is an electronic payment system used in South Africa. It enables businesses to collect payments from their clients on a regular basis, typically monthly.
The BDO system is similar to a direct debit or standing order, in which a client authorizes a business to debit a specified amount from their bank account each month. However, unlike direct debits or standing orders, businesses can use the BDO system to collect payments from many clients in one go.
The BDO system uses a secure online payment platform to facilitate payments. Businesses submit the details of their clients and the amounts to be debited to the BDO payment platform, which then processes the payments and sends them to the corresponding banks for processing.
The BDO system is widely used in South Africa for regular payments such as rental fees, electricity bills, insurance premiums, and subscription payments. It provides businesses with an efficient and convenient way to collect payments on a regular basis and can help to reduce the costs associated with payment management.