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.
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:
The available actions for the payment are:
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.
In this section:
Only a Subscriber Manager or Subscriber Administrator can enable Corrective Payments permissions for users.
Users with Corrective signing permission and a valid digital certificate can view, edit, and sign amendments to payments.
RESULT: If corrective permission has been enabled for you, you’ll be able to see the Corrective Payments link on the left-hand navigation.
When corrective payment email notification is enabled, the user will receive an email notification whenever a new Corrective Payment task is assigned to them.
By default, email notification for Corrective Payments is turned on for each user. However, a Subscriber Manager or Subscriber Administrator can change this setting at any time.
RESULT: Once the new payment details have been confirmed and signed, PEXA will review and process the changes as required. The payment will progress to the Completed tab once the payment has cleared.
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