Information for companies considering using Direct Debit and Paperless Online Direct Debits as a payment option for their customers.
PayPoint appoints Eazy Collect to deliver Direct Debit management system as part of its MultiPay product suite
Eazy Collect and PayPoint are pleased to announce that they have entered into a partnership agreement to deliver Direct Debit functionality for PayPoint's innovative omnichannel payments solution, MultiPay.
PayPoint are the market-leading omnichannel payments and retail technology provider, helping millions of people control their household finances, make essential payments and access services on and offline across the UK. Their seamlessly integrated omnichannel payments solution, MultiPay, is a one-stop shop for customer payments. PayPoint helps over 500 consumer service providers to save time and money while making it easier for their customers to pay – via any channel and on any device, including its UK network of over 28,000 stores which is bigger than all banks, supermarkets and Post Offices together.
Eazy Collect is a leading UK PayTech established in 2002 focused on delivering automated and streamlined Direct Debit and payment management services via its Eazy Customer Manager® cloud-based platform. As a Bacs Approved Bureau, Bacs Accredited Commercial Facilities Management Provider and FCA regulated Payment Institution Eazy Collect make payment processing simple.
Andy Stalsberg, Managing Director of Eazy Collect, said:
“Working to help deliver PayPoint’s overall strategy by providing our excellent Direct Debit provisioning has been a rewarding challenge and will ultimately bring more efficient payment processing to PayPoint’s new and existing clients. Eazy Collect’s aim is to continue to develop our partnership channel with other merchants, PSP’s and banks and this fits nicely with that endeavour.”
Mark Anderson, MultiPay Product Manager of PayPoint, said:
“Eazy Collect had the deep experience we sought and highly technical and feature-rich Direct Debit platform to integrate with our own system. Their credibility and reputation in the industry was very important to PayPoint and it was clear that both of our companies were aligned positively with a strong customer service ethos. We are excited to roll-out the added Direct Debit offering on top of our already successful digital payments capabilities currently benefitting our customers.”
For more information visit www.eazycollect.co.uk or contact www.paypoint.com
After a decade as the CEO of Bacs Payment Schemes Limited (the operator of the UK’s largest retail payment system) Mike Chambers has joined Eazy Collect Services Limited.
Eazy Collect is a leading UK PayTech established in 2002 focused on delivering Direct Debit and payment management services via its Eazy Customer Manager® cloud-based platform.
As a Bacs Approved Bureau, Bacs Accredited Commercial Facility Management Provider and FCA regulated Payment Institution Eazy Collect make payment processing simple.
Eazy Collect are the UK’s only PSP which provide connectivity via eight different channels including mobile app, making it simple for businesses of all sizes to fit Direct Debit into their sales and finance processes.
Andy Stalsberg, Managing Director of Eazy Collect, said:
“Given Eazy Collect's continuing and ambitious growth plans, I couldn't be more pleased to bring Mike aboard to utilise his deep payment experience across our changing landscape and exciting sector."
Mike Chambers, Director at Eazy Collect, said:
“Eazy Collect has a strong customer proposition in a competitive market place. Andy and his team have a wealth of experience and a customer orientated approach. Working with Eazy Collect represents an exciting opportunity to shape the transformation underway in the payments landscape.”
Well, subject to Competition and Markets Authority (CMA) rubber-stamping, Mastercard have almost got their feet under the table with their purchase of Vocalink, the operator of Faster Payments, BACS and Link ATM networks in the UK.
There is much speculation into why they have paid a 40x profit multiple for Vocalink.
Mastercard themselves say the deal will give them access to a major electronic financial transaction network in the UK to allow it to significantly increase its market share. It will give Mastercard access to Person-to-Person (P2P) and Business –to-Business (B2B) transactions through different payment channels such as mobile and bank payments rather than just Person-to Merchant (P2M) card transactions.
Direct Debit is a flexible and powerful payment method which has a proven forty year track record. One of the reasons Direct Debit remains so popular is because the general public has complete trust in it because of protection offered by the Direct Debit Guarantee. In a blog article last year, we discussed how the Direct Debit Guarantee introduces an element of risk to collections by Direct Debit, and how that risk to the collecting organisation (Service User) needs to be managed.
The new consumer watchdog for the banking sector, the Financial Conduct Authority (FCA) has reached an agreement with seven of the UK's largest banks and building societies which will undoubtedly help consumers avoid bank charges from failed direct debits.
In the unprecedented move, Barclays, The Co-operative, HSBC, Nationwide, RBS Group, Santander and National Australia Group will begin a process whereby direct debits, Standing Orders and future dated bill payments will be retried later in the day if they initially fail due to lack of funds. Lloyd's Banking Group advised that they already operate a similar system for most payments, and are working to extend the scheme to all transactions.