Payment methods overview
Kwik Payments provides secure and reliable solutions to handle payment collections for your business.
Payment methods are configured by Kwik during the onboarding process. Users can only modify the default settings.
If the default settings are updated, the new default information will automatically apply whenever a new mandate is created thereafter.
Below are the key configurations to help you set up and understand your payment methods:
Provider
Indicates the bank or processor through which the debit will be submitted.
Abbreviated Name (ABSN)
The shortened business name that appears on customer bank statements and mandates. Approved during onboarding.
Item Limit
The maximum amount that can be collected per transaction. Set by Kwik Payments according to your approved limits. Contact support if you need this adjusted.
Monthly Limit
The total amount that can be collected in a given month. This should be set slightly higher than expected collections. Exceeding this limit will trigger an error and prevent additional debits.
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