Unified Revenue Collections
Multiple payment channels and payment providers are already integrated into the CICOD Unified Collections Gateway allowing them to query the platform using the Order ID to fulfil payments. This eliminates the need for each business to have separate integrations, payment partners. This gives a transparent view of both the expected revenue and actual revenue generated.
Order IDs can be generated both for full and part payment, where the part payment is linked to the original order ID generated for tracking purposes.
Single Dashboard for multi-channel collections
Electronic transaction charges vary by payment channel; therefore reconciliation of bank account balances against sales can be slightly more complex. The single view allows the finance team caters to gross payments as well as net payments to aid confirmation of payments and balances.
It is also easy to integrate into pre-existing channels used by businesses. This eases settlement and reconciliation across the board.
Direct Bank Lodgments
When Payments are made directly into the business bank account, they can be inputted into the platform for processing and order fulfillment. This ensures that all payments including bank transfers are captured in a single transparent view. We also provide the option to integrate your bank deposit notification directly with CICOD for straight-through processing.
Online payments ease order completion and increase conversion and sales. Hence a plethora of online payment options has been provided to ensure business growth.
POS Transaction tracking
Settlements on card transactions are usually done T+1. Transactions are sometimes lost and never settled. This leads to revenue leakage. The CICOD integrated POS provided by our partners ensures the necessary tracking information is stored without the need for the card processing duplicate sheets.
With POS straight-through processing (STP), POS transactions are easily tracked and managed, as details of individual transactions are monitored for processing and settlement.
Cash flows from payment points are easily tracked as each payment is recorded. This informs timely cash evacuation.