Service Overview
One Banking Solution's ECS (Electronic Clearing Service) Mandate facility enables businesses and financial institutions to collect recurring payments from their customers in a timely and automated fashion. With ECS mandates, businesses and financial institutions can digitally register mandates, manage active mandates, and track all collections in real-time without the need for manual intervention or paperwork. For the customer, ECS mandates timely payment of loan EMIs, electricity bills, etc., thereby maintaining a clean financial track record. For the business, ECS mandates offer a convenient, low-cost solution for efficient collections.