Integrated solutions for seamless payment processing
Getting paid on time and having happy customers has never been easier, yet many Australian businesses are still managing payments the hard way.
Indue Business Development Manager for Payment Solutions, Michael Mugaba says the secret to easy, accurate and secure recurring payments is a robust direct debit solution.
About 21% of consumers currently use direct debit as their preferred monthly payment method with 67% citing direct debit as the considered option in the future, according to the BPAY Usage and Attitude Survey 2014.
Direct debit gives time-poor customers one less thing to think about and helps manage their finances. Many customers prefer a paperless solution, which allows for convenient scheduling.
For the up to 40% of consumers not using direct debit, many will pay bills at the last minute. This leaves businesses at risk, impacting cash flow and increasing operational costs to either follow up on payments or engage expensive collection services to chase outstanding debtors. The net result is businesses have less time and money and customers have a poor experience.
Indue is charging ahead in integrated solutions for seamless direct debit payments with more than 10,000 customers making recurring payments through our idebit platform.
idebit is an innovative end-to-end direct debit and recurring payment solution that ensures payments are received accurately and on-time. It’s a convenient, customised service that allows businesses to control the amount and timing of payments.
idebit is suited to any type of business receiving periodic payments with our customer base including financial institutions, childcare centres, retailers, insurance companies, charities, church development funds and gift and loyalty card providers.
As an authorised deposit-taking institution, Indue is regulated by the Australian Prudential Regulation Authority (APRA).
How does idebit work?
idebit is a flexible recurring payment system which collects payments from your customer’s bank account or credit card, and deposits them into your settlement account.
You choose the payment frequency and amount, payment method, primary contact, and settlement account details.
Payment instructions are then scheduled and processed through the idebit payments platform and the banking network.
Once cleared, payments are settled to your account. Any unsuccessful transactions, whether they are due to insufficient funds or simply an incorrect account number, are reported back to you so that you can follow up straight away with your customer to reschedule the unsuccessful payment.
Helping your business
If you would like to know how Indue’s idebit payments platform can help your business, contact our idebit team on 02 9201 8307 or 1300 idebit (433 248) or download the idebit brochure at indue.com.au/idebit