MEPS Direct Debit (Launched in 2010)

MEPS Direct Debit is a convenient, efficient and the most cost effective interbank collection service for regular and recurring type of payments. It enables automated collection directly from a customer’s bank account at multiple banks with a single authorization.

For companies, it is the simplest way for collection of payments from their customers such as collection for insurance premiums, subscription fees or bills.

Whilst for individuals, MEPS Direct Debit provides an ideal tool to manage your monthly bills or regular payments such as membership fees, and insurance premiums, unit trusts and utility bills.

Key Benefits:

  • Ideal solution for recurring transactions
  • Facilitates interbank collection
  • Allows direct access to banking accounts in all major banks
  • Enables ease of reconciliation via a single channel
  • Allows same day processing and settlement
  • Provides highest level of security PKI technology
  • More cost effective solution than any other payment channel

View FAQ