Make and collect payments using Bacs, Faster Payments, Direct Debit and Open Banking. Manage cash flow, invoices, remittances and protect your business from fraud.
The payments landscape has gone through significant transformation in recent years. Technological advancements have led to growth in innovation, with payments becoming faster, easier, and more convenient.
The subscription economy continues to expand, with many SMEs now participating. New variable recurring payments (VRP’s) offer a method of payment that could combine the low cost of Direct Debit, with the speed and flexibility of cards, which could be a powerful alternative for this growing market.
“In 2020 there were 4.5 billion payments made by Direct Debit, a rise of 1% over the previous year, with an overall value of £1,178 billion.”
UK Finance - "Uk Payment Markets 2021"
Once you have decided that collecting Direct Debits could make a big impact on improving your cash flow, you need to decide who to partner with. There are many different providers and offerings but how do you make sure that you pick the right one for you?
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