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Direct Payment

Direct Payment

Our direct payment services allow you to collect your receivables in a fast and efficient manner.

Direct Payment helps your company save time and money:

  • It ensures timely payment collection. Your company will receive customer payments on a predetermined date, reducing late fees and delinquent payments.

     

  • It improves your company's cash flow. The timing of your receipts will be more predictable and reliable, allowing for more accurate cash flow forecasting and informed investment decisions.

     

  • It increases your company's efficiency. Offering Direct Payment helps you eliminate the manual, labor-intensive process of handling payments made by check and improves your payment operations.

     

  • Direct Payment saves your company money. Direct Payment saves companies an average of 11.5 cents per payment (versus checks) due to reduced processing costs.

     

  • It reduces exception processing. People who use Direct Payment tend to maintain higher balances in their bank accounts, so fewer payments are returned. With Direct Payment, customer information is more accurate, reducing posting errors.

    Direct Payment fosters customer satisfaction and retention:

     

    • Direct Payment enhances customer service. Your customers will appreciate having a payment option that is reliable, accurate, on time and confidential. Eighty-four percent of Direct Payment users are very satisfied with it.

       

    • Direct Payment improves your company's image. Offering Direct Payment shows your customers that your company is customer-oriented, technologically savvy and cost-conscious. Forty-three percent of consumers already use Direct Payment for at least one payment and most would like to increase that number (according to the National Automated Clearing House Association).

       

    • Direct Payment helps maintain customer loyalty. With a convenient payment plan in place, your customers will be more likely to continue using your company's services.

       

    • Direct Payment gives customers peace of mind. Consumers using Direct Payment are protected by the Electronic Funds Transfer Act of 1978, known as Federal Regulation E. Your customers will appreciate that they must be notified 10 days in advance if the amount of a bill varies from the previous bill, and that they have the right to stop or reverse a payment that may be in error.

       

    Direct Payment can be used for many types of recurring payments, including:

     

    • Mortgage
    • Insurance
    • Investments
    • Car Loans
    • Newspaper/Magazine Subscriptions
    • Utilities
    • Cable TV
    • Health Clubs
    • Credit Cards
    • Donations