Considering the value Direct Debit can have to business, it’s a shock that more don’t seek to promote this method of payment where they can. Its winning simplicity and cost-effectiveness encouraged your company to go down this payment route, but what’s encouraging your customers?
Actually, there’s a great deal that they can benefit from by choosing to pay in this way. So if Direct Debit is something you offer, it’s something you should be shouting from the rooftops – and if not then what are you waiting for?
Direct Debit Guarantee
This is not just some fancy banker terminology. The Direct Debit Guarantee acts as a safety net to customers, ensuring any incorrect payments are returned back to their account. Direct Debit is actually the safest payment method in the UK. It’s also amongst the most trusted.
No late payments
Direct Debit collection and payments are automated. Outside of checking statements, there’s very little in the way of manual labour. Think – no late payments, no awkward chase ups and no need for customers to bury their heads in the sand. Everything is collected on agreed payment dates, and an improved credit rating just is the cherry on top of the already fruitful cake.
Incentives and discounts
Direct Debit is just as simple for companies to implement as it is for customers. So if businesses can get more people on board then it’s a win –win situation. As such, many will offer discounts and incentives – not only will customers get the benefits that come with this payment method; they’ll also get cheaper rates without losing you any money. You’ll also score loyalty points.
Affordability – payment over a period of time
It’s far easier to pay for something in instalments than it is in one lump sum. With Direct Debit, customers can spread the costs in a way that is far more convenient for them. Billing dates are less rigid and can be set up weekly, fortnightly, monthly, quarterly etc. in a way that best suits them and your business.
Set up ease online and offline
Nobody likes to dither where payments are involved. So it’s great that beyond setup and cancellation, all that’s left to do is keep check of outgoings. Even better – it’s paperless.
DFC’s online joining portal FastDD allows companies to stay open for business 24/7 – customers are ready to go at the click of a button. The ease with which FastDD integrates into to you company’s website and the inherent nature of setting up direct debits online means that you can provide a clear and immediate call to action to your potential customers and improve conversion rates on your services in the process.
Payments can just as easily be set up over the phone (or face-to-face if preferable) with DFC’s simple and secure Electronic File Transfer. The process is quick and incredibly simple, and our customer service team are on-hand six days a week to handle enquiries.