Make and collect payments using Bacs, Faster Payments, Direct Debit and Open Banking. Manage cash flow, invoices, remittances and protect your business from fraud.
Bottomline occupies a unique position in the market as they count some of the UK’s largest Direct Debit Originators as their customers. This provides us with an unrivalled view of what is happening with payments being collected via Direct Debit (DD) in the United Kingdom.
Below is a series of anonymized snapshots taken of the data available across a 12-month basis. What is shown is:
1- Total DD Failure Rate
2- DD Failures due to Refer to Payer code
where a DD collection has failed typically due to lack of funds in the bank account
3- DD Failures due to Cancellation with Bank
where an individual has cancelled their DD instruction with their Bank but has not informed the business
4- Cancellation of DD Instructions
where an individual has cancelled their DD instruction with the business
We have provided an overview of the data available, filtering this by business size. For the purposes of these snapshots, we segment customers based on the annual turnover, number of employees and volume of transactions.
Please note that this data is available by industry on request.
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