Direct Debit is a secure and simple method of collecting regular payments– more than 80% of UK adults have at least one Direct Debit. Once a Direct Debit is set up, the payments are made automatically on a selected of date. Giving your customers the option to pay by Direct Debit leaves you free to focus on your business, without worrying about late payments.
The benefits of Direct Debit for businesses
Improves your cash flow: Direct Debit will give you a clear knowledge of your regular income, allowing for better forecasting and financial planning. The automated nature of Direct Debit will dramatically reduce the likelihood of late payments and the need to chase outstanding invoices because you are less dependent on the payers cooperation.
Increases customer loyalty: Direct Debit is well-known, with more than 80% of households having at least one. The ease-of-use and protection Direct Debit brings has been proven to increase customer loyalty and retention in a range of studies.
Automated and secure: Automating the process of collecting regular payments gives you more time to focus on activities to further increase your revenue. All transactions are also processed through highly secure technology and are covered by the Direct Debit guarantee, ensuring your peace of mind.
The benefits of Direct Debit for your customers
Cost saving: Large payments can be broken down and made automatically every month and small regular payments can be set up easily. This reduces the chance of your customers needing to pay late fees and allows them to better plan their finances.
Time saving: Your customers can set up the payment once and let it run, eliminating the time spent making payments every month.
Secure: Direct Debit is well known to have robust security technology, increasing customer confidence in your business.
See how Direct Debit management by First Capital Cashflow has helped our clients…