Are you currently collecting payments via Direct Debit?
No? Well why not? In this article we discuss the major benefits for businesses collecting payments via Direct Debit and how it has helped them both financially and none financially.
Firstly you have to consider the setup of Direct Debit, can you afford it? Is it worth your time and effort? Will it actually benefit my business? The simple answer to this would be, yes!
Why choose Direct Debit?
Over 85% of people in the UK said they feel happy paying via Direct Debit due to it being one of the most reliable payment methods around. This is all down to the stringent security checks and vigorous processes the payment files have to go through, maintaining a high level of security to give you peace of mind that your payments are being processed securely. In terms of bettering your business, offering Direct Debit as a means for your customers to pay you makes your company look more professional which could lead to more sales as you are seen as a reliable business.
Some of the reasons people prefer Direct Debit to Standing Order is that Direct Debit offers greater control over payments. You are in control of the amounts and collections so you are able to more accurately forecast cash flow. Any business knows that it is crucial to have accurate outlooks of where the company will be financially and with customers paying via direct debit you would be able to do this more accurately.
Benefits to Direct Debits
Obviously there are benefits to your customers too. Besides the fact they are given another payment option it also offers them a secure payment method. Customers have trusted Direct Debit payments for many years and this is why so many companies are having it as a collection method. As setting up Direct Debits is quick and easy this saves the customer time, and in this day and age where everything has to be done quickly, then this appeals to them. With all this extra time on their hands they are then able to start thinking about planning finances. The regular payments allow them to see when money is coming out and this enables them to budget accordingly meaning they too can relax.
So a quick and relaxed payment method for the customer, and regular amounts coming into your business so you can easily forecast. Direct Debit sounds like a no brainer to me!
Speak to one of our sales consultants today by calling 0161 667 0758 or email us at firstname.lastname@example.org and they will figure out what you need to get set up and tailor a package to your budget and requirements.
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