Last updated: 9 December 2019 Jurisdiction: ALL Resources: Help Card
The corrective payment process has been streamlined so that corrective instructions can now be edited, signed, and processed securely from within the PEXA Exchange platform.
If a corrective payment is required for a settlement, PEXA will initiate the corrective payment process from within the platform. A notification will be displayed to users of the responsible subscriber informing them that action is required on their part to correct the payment particulars. Users with the Corrective Payments permission enabled can access specific transactions, enter the correct transaction details, and submit the changes to PEXA. Once submitted, PEXA will review and process the new instructions as required.
Corrective Payments dashboard
A new Corrective Payments dashboard lets you view pending, processing, and completed payments. This dashboard is enabled only to users who have the Corrective Payments permission.
This tab lists all payments that require action from you.
The Status column indicates the status of the new payment:
Action Required: A financial institution or biller has rejected a payment based on details your subscriber provided. Please provide amended details.
Ready to Sign: Changes to the payment details have been saved. If you have the Corrective Signing permission, please sign to submit them for further processing.
The available actions for the payment are:
Edit: Subscribers with Corrective permission can view and edit corrective changes.
Edit and Sign: Subscribers with Corrective Signing permission and a valid digital certificate can view, edit, and sign off on corrective changes.
Depending on your permission level, you may Edit and/or Sign the amended details for the payment via the cog in the Actions column.
This tab shows all payment directions that have been signed and submitted. The possible statuses are Submitted, Accepted, or Processing.
Payments will progress to this tab once PEXA has forwarded them to the relevant financial institution for clearance.