It is estimated that by 2050, there will be 4.3 billion Direct Debit payments processed every year, making it one of the most popular payment methods in the UK. Approximately 8/10 people in the UK have set up at least one Direct Debit payment in their lifetime and over two thirds of people prefer paying their bills by Direct Debit. If you’re a business that deals with Direct Debit payments and collections, read our advice on choosing the best software supplier.
Direct Debit Software for Business
Companies send and collect both business-to-business and business-to-customer payments every day, with can incur costly transaction fees depending on your software supplier.
If you’re looking to skip the transaction fees, look for cloud-based software suppliers who don’y charge extortionate prices for processing your payments. Do your research when searching for a new Direct Debit software supplier, has some may charge additional fees for upgrades or tie you to a lengthy contract.
Choosing cloud-based software is best if you are a forward-thinking company who likes to be able to make and manage payments on the go. This extra capability is perfect for businesses as anyone with granted access to the software can check your Direct Debit payment. On-the-go access is also perfect for last minute or even forgotten payments which require immediate attention. Don’t wait around until the next working day, send your Direct Debit payments instantly with cloud-based software!
When it comes to businesses, payments have to be fully secure or you open yourself up to a lot of trouble. When searching for Direct Debit software, ensure that you choose a supplier who is Bacs-approved. This means that Bacs have put the supplier through an intensive round of tests to ensure they are secure. Once approved, the software is able to connect to the Bacstel-IP network, which only is bank-grade secure.
Direct Debit Management Software: The Solution