Batch payments refer to a method of processing multiple financial transactions together as a single group. Instead of processing each transaction individually, batch payments enable the simultaneous processing of multiple payments, which can include salaries, bills, or supplier payments. This approach improves efficiency by reducing manual effort and streamlining the payment process.
Important to note:
Batch payments must first be enabled by our Support Team.
Batch payments must be provided in Excel (XLSL) format.
Sufficient account balance is required.
Reference field allows only letters, numbers and "_-" symbols only.
Reference field is limited to 140 characters.
Here's an example of how your Excel file should look like:
Once you have batch payments enabled on your Xace Web App, you may follow the below steps:
1. Hover your cursor over the "Payments" tab.
2. Select the "Batch Payments" option.
3. Click on the "Click to Upload a File" button to provide us with your file.
4. On the next page, you may see a summary of the payments you have uploaded.
5. Should this information be correct, click on the toggle button to agree to our Terms and Conditions.
6. Click on the "Confirm Payment" button to proceed.
7. Lastly, for an extra layer of security, kindly enter your Xace Web App 2 Factor Authentication code.
8. Click on "Authorize and Enable Batch Payment".
That's it! You should now see confirmation that your batch payment is successfully uploaded.