EFT Pre-Authorized Debit - BETA
Functionalities and value-added features supported
Features | EFT Pre-Authorized Debit |
---|---|
Payment method type | Direct Debit |
Merchant country codes | US, UK, EU, HK, SG, AG |
Shopper country codes | CA |
Processing currencies | CAD |
Settlement currencies* | CAD |
Minimum transaction amount | NA |
Maximum transaction amount* | NA |
Session timeout | NA |
Refunds | ✅ |
Partial refunds | ✅ |
Chargeback | ✅ |
Recurring payments | ✅ |
Dynamic descriptor | Shoppers will see on their statement the following details: Creditor - Your business name (up to 15 ASCII characters), Reference - "Misc payments", Descriptor - "Airwallex" |
Settlement timeline | Customized for each business, typically T+5 to T+10 |
Settlement threshold | NA |
Settlement frequency | Daily |
*Use Airwallex Auto FX feature to unlock more settlement currencies.
*Support for increasing the maximum transaction amount is available on a case by case basis per risk assessment. Please submit ticket here .
Choose the integration method that best suit your needs
Airwallex has built a range of integration methods that allow you to manage your UI, minimise your implementation effort and allow you to get to market quickly.
Integration option | Supported |
---|---|
HPP (Hosted Payment Page) | ✅ |
Drop-in Element | ✅ |
Embedded Elements | ⛔️ |
API | ✅ |
Pay by Link | ✅ |
Mobile SDK | ⛔️ |
Plugins | ⛔️ |
Accept omni-channel payments from shoppers
EFT Pre-Authorized Debit | Desktop Website Browser | Mobile App | Mobile Website Browser |
---|---|---|---|
One-time payments | ✅ | ⛔ | ✅ |
Recurring payments | ✅ | ⛔ | ✅ |
Verification methods
According to Canada Pre-Authorized Debit rules, you must conduct account verification for the first use of an external bank account number, or changes to the account number.
By default, Airwallex offers Plaid to help you verify that the payer, i.e. your customer, has the authority over the bank account to set up direct debit. In some cases, we also offer verification via micro-deposit, or micro-deposit + micro-debit.
Plaid
Plaid is an open-banking platform that will verify the bank account by requiring the payer to log in to their ebanking.
Micro-deposit
For micro-deposit verifications, Airwallex will trigger two deposits to the specified bank account with small amounts. The payer then needs to enter those two amounts in an AWX hosted interface to verify that they have access to the account.
Micro-deposit + micro-debit
Micro-deposit + micro-debit adds a micro-debit on top of the micro-deposit process. In parallel to triggering the two micro-deposits, Airwallex will also trigger a debit with a small amount. Airwallex will then wait to see whether this debit has been successful (i.e. not rejected by the bank), before allowing larger debits to be processed.
Disputes
For EFT PAD, the dispute process gives significant consumer rights to the shopper.
Disputes within the rejection window:
Business payers have up to and including 10 business days after the debit to reject. Personal payers have 90 calendar days after the debit to reject. You will not be able to challenge the rejection and the funds will be returned to the shopper.
The settlement of the direct debit will be canceled or reversed by deducting the disputed amount from your next settlement batch. We recommend you to contact your customer to resolve the situation.
Disputes after the rejection windows:
Disputes raised after these deadlines will be managed by you and your customers outside the rule of Payments Canada. There is no deadline for raising disputes, i.e. your customers can dispute anytime after rejection deadlines.
For such disputes, Airwallex will reach out to you via email. Please note, that you are liable for any dispute outcome and associated fees.
Risk of double-crediting with refunds and disputes
Please note the risk of double crediting with refunds and disputes. If you proactively issue your shopper a refund while their bank also initiates the dispute process, they may receive two credits for the same transaction.
When issuing a refund, you should notify your customer immediately that you’re issuing the refund and that it may take 2-5 business days for the funds to arrive in their bank account.