Paperless Direct Debits

By Author: max soft
Total Articles: 2
Comment this article

Paperless Online Payments Software solutions are the way forward. Paperless Direct Debits has revolutionised the payment process for many online businesses and allow automatic recurring billing. By using paperless Direct Debits and automating payments online businesses can achieve high levels of efficiency, optimise cash flow and minimise risk.

Paperless Direct Debit is an online payment method which simplifies the collection process because Direct Debit instruction details can be taken over the telephone, Internet or in person. Thus paperless direct debt is a unique as it allows people to sign up for purchases without having to sign a piece of paper holding the direct instruction. Essentially, a paperless direct debit solution works in much the same way as paper based systems and your customers have exactly the same safeguards as with conventional sign up.

A Paperless Direct Debit solution ...
... validates both the branch sort code and account number without the requirement for third party software and collects all relevant details for the set up of a Direct Debit mandate. The functionality of the paperless direct debit solution is ideally suited to compliment the card payment gateway functionality either as an integrated part of card payment pathways or as separate pathways.

There are many benefits to having a paperless direct debit solution:

* Speed - The solution speeds up the Direct Debit sign up process and so significantly speeds up the payment process and the receipt of payment
* Less paperwork - Paperless direct debit eliminates the paperwork and administration associated with Direct Debits.
* Saves time - The solution saves time as the sign-up process is quicker
* Saves money - the solution reduces postage costs and minimising delays in payments and so saves a company money
* Multiple sales channels - paperless direct debit allows you to take full advantage of more efficient sales channels such as telephone call centres and the Internet
* Effective alternative - Less expensive and more flexible than credit card payments which remain the dominant paperless payment method
* Increased conversions - As the solution is convenient for customers it helps to improves sales. Also as the solution is fast, effective and convenient means people are more likely to use it.
* Improve member retention - as clients as pay easily and don't have to complete forms means that the solution encourages improve customer service and customer acquisition.
* BACs-compliant - The Paperless Direct Debits system is compliant with all BACS requirements for online Paperless Direct Debits

So in essence a paperless direct debit solution speeds up and simplifies the sign up process, whilst at the same time increasing a businesses administrative cost savings. A paperless direct debit solution is more convenient for customers too, with no forms to complete or the possibility of delays. So why delay sign up to a paperless direct debit solution today.