Glosssary
A
Abbreviated Name
A short identifier (maximum 10 characters) that appears on customer bank statements to identify the merchant. Must be registered and approved by PASA. Example: TESTMERCH1
Account Holder
The person or entity that owns a bank account. For debit orders, this is typically the customer (debtor) whose account will be debited.
Account Type
The classification of a bank account. Supported types:
CURRENT- Cheque/current accountSAVINGS- Savings accountTRANSMISSION- Transmission account
Action Date
The date on which a payment instruction is processed. The smallest unit is a day. Collections submitted after cut-off times will be processed on the next action date.
Acquiring Bank
See Sponsoring Bank.
Adjustment Category
For DebiCheck mandates, defines how often the collection amount can be adjusted:
NEVER- No adjustments allowedQUARTERLY- Every 3 monthsBIANNUALLY- Every 6 monthsANNUALLY- Every year
Adjustment Rate
A percentage by which the authenticated DebiCheck amount can increase, depending on the adjustment category. Cannot be used together with Adjustment Amount.
Authentication Reference
A unique identifier assigned to a DebiCheck mandate after successful authentication. Required for mandate amendments.
Authentication Type
The method used to authenticate a DebiCheck mandate:
REALTIME(TT1) - 120-second USSD/push responseDELAYED(TT1b) - Same-day approval until 20:00BATCH(TT2) - 48-hour approval window
AVS-R (Account Verification Service - Real-time)
A service that validates customer bank account details, including account existence, status, type, and ID number matching.
B
Bankserv
The South African automated clearing house that processes electronic payment instructions between banks.
Batch Processing
Processing multiple transactions together at scheduled intervals rather than in real-time. DebiCheck TT2 mandates use batch processing.
Bearer Token
An access token used for API authentication. Included in the Authorization header of API requests.
Branch Code
A numeric code identifying a specific bank branch. Used in conjunction with account numbers for payment routing.
C
Callback
An HTTP request sent by Precium to a merchant's server when a transaction status changes. Also known as a webhook.
Callback Type
The category of events for which callbacks are sent:
EFT_COLLECTIONDEBICHECK_COLLECTIONDEBICHECK_MANDATEEFT_PAYMENT
Clearing Participant
A bank that participates in the national payment system and can process clearing transactions.
Client Credentials Flow
An OAuth 2.0 authentication flow where the client authenticates using a client ID and secret to obtain an access token.
Collection
A debit order transaction that withdraws funds from a customer's (debtor's) account to the merchant's (creditor's) account.
Collection Day
The day of the month (1-31) on which recurring collections are processed.
Contract Reference
A unique identifier (maximum 14 characters) linking a mandate to a specific customer contract. Appears on bank statements alongside the abbreviated name.
Creditor
The party receiving funds in a transaction. In debit orders, this is the merchant. In payments, this is the recipient.
Cut-off Time
The deadline by which transactions must be submitted to be processed on a specific action date.
D
DebiCheck
An authenticated debit order system where customers electronically approve mandate details before collections can be processed. Provides reduced disputability and higher success rates.
Debit Order
An instruction authorising a third party (merchant) to collect funds from a customer's bank account on specified dates.
Debit Sequence
Indicates the position of a collection within a mandate's lifecycle:
FRST- First collectionOOFF- Once-off (single collection)RCUR- Recurring collectionRPRE- Re-presented after failureFNAL- Final collection
Debtor
The party from whom funds are collected. In debit orders, this is the customer whose account is debited.
Delayed Authentication
DebiCheck authentication (TT1b) where the customer has until 20:00 on the same day to approve, rather than the 120-second real-time window.
Dispute
A challenge raised by a customer against a debit order transaction, claiming it was unauthorised or incorrect.
E
EFT (Electronic Funds Transfer)
Electronic transfer of funds between bank accounts. Includes both debits (collections) and credits (payments).
EFT Credit
An outbound payment from the merchant's account to another account. Also called EFT Payment.
EFT Debit
An inbound collection from a customer's account to the merchant's account. Also called standard debit order.
Entry Class
A classification code for debit order transactions. Always 21 for Precium transactions.
External Reference
An optional merchant-provided identifier for tracking transactions in external systems. Must be unique across all transactions.
F
Fallback Authentication
An alternative authentication method used when the primary DebiCheck authentication fails. Example: DELAYED_WITHOUT_AUTH
Frequency
How often collections are processed against a mandate:
WEEKLYMONTHLYQUARTERLYBIANNUALLYANNUALLY
H
Homing Fee
A fee charged by the paying (issuing) bank to the acquiring bank for processing a debit order against their customer's account.
I
ID Number
South African identity number used to identify account holders. Format: 13 digits (YYMMDD SSSS C A Z).
Input File
A file containing payment/collection instructions uploaded to the bank for processing.
Instrument
The payment method or channel used for a transaction:
EFTSAMEDAYEFTONEDAYEFTTWODAYDEBICHECK
Issuing Bank
See Paying Bank.
M
Mandate
A formal authorisation from a customer (debtor) allowing a merchant (creditor) to debit their bank account. Can be paper, electronic, or voice-recorded.
Mandate Reference Number
A unique identifier assigned to a mandate by the banking system after creation or authentication.
Max Amount Cents
The maximum amount that can be collected in a single transaction against a DebiCheck mandate.
Merchant Profile
A configuration record containing the merchant's banking details, approved instruments, and processing settings.
N
Non-Processing Day
A day when banks do not process transactions, such as public holidays and bank holidays.
O
OAuth 2.0
An authorisation framework used by the Precium API for secure API access.
Output File
A file returned by the bank containing the status of each transaction from an input file.
P
PASA (Payments Association of South Africa)
The regulatory body that manages payment systems in South Africa and sets rules for debit order processing.
Paying Bank
The bank that holds the customer's (debtor's) account and processes the debit instruction. Also called issuing bank.
Payment
An outbound EFT credit transfer from the merchant's account to a recipient's account.
Profile Code
A code assigned by the bank that links credit limits, account details, and pricing to a merchant.
Profile Limit
The maximum total value of transactions a merchant can process per instrument per month.
R
Real-Time Authentication
DebiCheck authentication (TT1) requiring customer response within 120 seconds via USSD or push notification.
Reconciliation
The process of matching collection results to bank statement entries to confirm successful settlement.
Release Date
The date from which a mandate becomes active and collections can be processed.
Reply File
A file from the bank acknowledging receipt and acceptance of an input file for processing.
RMS (Registered Mandate Service)
A service that stores authenticated DebiCheck mandates and enables tracking of customer accounts.
S
Service Type
The processing speed for EFT transactions:
SAMEDAY- Same-day settlementONEDAY- Next business day settlementTWODAY- Two business day settlement
Settlement
The process of transferring collected or paid funds to the appropriate bank accounts.
SO (System Operator)
A non-bank entity that provides technology services for payment instructions. Funds settle directly to merchant's bank account.
Sponsoring Bank
The bank that enables a merchant to collect funds via debit orders. Also called acquiring bank.
Statement ID
An identifier linking a reconciled collection to a specific bank statement entry.
T
Tracking Period
For DebiCheck, the number of days (0-10) the bank monitors a customer's account after a failed collection to retry when funds become available.
TPPP (Third-Party Payment Provider)
An entity that accepts funds from payers for on-payment to third parties. Must be registered with PASA.
TPPP-Hybrid
A TPPP model in which collected funds are deposited into the merchant's bank account rather than the TPPP's account.
TT1 (Transaction Type 1)
Real-time DebiCheck authentication with a 120-second response window.
TT1b
Delayed real-time DebiCheck authentication with a same-day response window until 20:00.
TT2 (Transaction Type 2)
Batch DebiCheck authentication with a 48-hour response window.
TT3 (Transaction Type 3)
DebiCheck authentication using a cheque card and PIN (not currently supported by Precium).
U
Ultimate Creditor
A secondary recipient in split payment scenarios who receives a portion of the collected funds.
Unpaid
A collection status indicating the transaction failed, typically due to insufficient funds or account issues.
USSD (Unstructured Supplementary Service Data)
A mobile communication protocol used for DebiCheck real-time authentication on feature phones.
V
Value Type
For DebiCheck mandates, determines collection amount flexibility:
FIXED- No amount variation allowedVARIABLE- Amount can vary up to 1.5x the authenticated amountUSAGEBASED- Full flexibility within max amount
Verify Account
A boolean flag to trigger bank account verification (AVS-R) during mandate creation.
W
Webhook
See Callback.
Z
ZAR
South African Rand - the only currency supported by the Precium Debit Order API.
