Make and collect payments using Bacs, Faster Payments, Direct Debit and Open Banking. Manage cash flow, invoices, remittances and protect your business from fraud.
And it’s happening fast. Online self-service, uptake of the digital economy, and the Open Data
revolution are accelerating at a blinding pace. And COVID-19 added rocket fuel to this growth.
Customers want the payment method that suits them – fast, convenient and secure. Paying by open banking is new but it fits the bill. There's no need to share sensitive payment details, type a long card number or enter a billing address.
You can’t keep up with this rapid rate of change if your systems and software aren’t built for it. But in the world of finance, cloud systems pose a risk so staying compliant is mission-critical.
Let’s face it, your customers have never had so much choice.
Taking payments is easier said than done
Getting money in should be easy, but expectations have shifted.
Our research showed a rise in the number of cancelled Direct Debits during the pandemic. Collecting recurring or one-off payments while providing a great customer experience got a lot tougher.
Businesses realised they needed to offer alternative payment options as a back-up – these are crucial if a payer has insufficient funds and requires an extension or a part-payment option.
Find out how to supercharge your business with open banking and save up to 50% on card
Open Banking is a regulatory initiative that forces UK banks to create open interfaces into previously-locked customer accounts and payment systems. Don't wait to get the answers to all your questions about the Open Banking payments initiative!
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