direct debit bureau, direct debit processing, direct debit solutions
Bureau Service, Consultancy, Direct Debit
19, JAN 2017

Direct Debit Solutions

Remember the ‘good old days’ – when the idea of direct debit hadn’t been thought of, and payments were made by cheque or cash? Those days are long gone, and it’s not just payment methods that have moved on and developed. With consumers accessing information and purchasing in increasingly seamless transactions, businesses should be considering whether their payment methods are up to the challenge – and considering whether to introduce direct debit solutions as part of the package.

The last few years have seen a transformation in the way consumers research and make purchases. With the online world available at the swipe of a finger – and across devices – the challenge for business is to make the whole transaction as seamless as possible. Consumer habits driven by the availability of new technologies continue to move on apace; and it’s vital for business to keep up.

One of the things that’s become very apparent is that the consumer wants things to be as easy as possible. They want to be able to access information wherever they are and on whichever device they happen to be using at the time; they also want to be able to pay in the most convenient way depending on what they are purchasing. What this means in terms of payment methods is that businesses need to take a good look at how consumers can buy their good and services, and consider whether they can improve their offerings by including more payment methods. This could include the introduction of direct debit solutions, even if direct debit is not a payment method that you have previously considered for your business.

By updating your payment structures and including more options for consumers, you will make their transaction journey easier which makes them more likely to buy from you in the first place – and to return for future purchases.

That’s not to say that updating your payment methods into what’s becoming known as an ‘omni-channel payment strategy’ isn’t without its challenges. For established businesses, there will be issues of systems integration and compliance with regulatory demands, although new businesses – and smaller, more agile businesses may well be able to launch a multi-channel approach, incorporating direct debit solutions, relatively easily, stealing a march on larger operations. However, this isn’t a subject to ignore, whatever size organisation you’re operating in. It’s also worth remembering that there are a number of options available to help you as you transition to a more flexible strategy – using a direct debit bureau to outsource your direct debit processing is one option if this is something your organisation is considering.

If you haven’t considered the opportunities direct debit could offer for your business as part of a payment structure that will offer greater benefits for your customers, we can talk it all through with you – get in touch!