The industry best practice of direct debit is a time tested way to curtail payment lag times as well as human errors. The basic aim of both lies in authorizing payees to draw funds from payer accounts without having to go through complex processes every time. They are both secure and fast, owing to the limited authorization procedures. Major firms make use this facility with a view to keep critical operations up and running. There are a number are countries where they are prevalent. These countries include the United Kingdom, Brazil, Spain, South Africa, Switzerland, Germany and the Netherlands. While they are made in compliance to individual country rules, with one exception in place. The exception is in the case of Single Euro Payments Area or SEPA predominant in European Union nations. To instigate limited damage caused by irregular Euro denomination, the uniform payment structure and tools have been put into place.
Timely payments- secured and fast
Both are preferred means of transaction to vendors as well as merchants, owing to the enhanced security and speed. The recent developments in the sphere of this collection management software have eased the complexities of multi-channel payments to a great extent. Vendors are inclined to the convenience of Direct Debit Collections via automated payment systems.
Accesspay providing SEPA direct debit solutions
Accesspay is a SEPA certified on this provider. The integrated SEPA certified software from Accesspay is easy to incorporate into a firm’s existing structure. The cloud based environment of Accesspay’s direct debit solution makes it ideal for firms with vendor management issues. The basic feature of this service enables one to make multi-channel payments in a fast paced manner. Accesspay utilizes a ISO20022 Based Data Model. The solution is in compliance with SEPA guidelines as well. A one stop central operation hub enables users to manage and schedule payments. Even rejected and reverted payments are automatically taken care of by an integrated and easy to use dashboard structure. One of the different modules of this solution includes customer letter management. This function sends out reminder letters to payers for payment defaults. The letters are edited as per SEP A guidelines before being sent out. The graphical dashboard helps one to keep complete tab on various streams of payments and receipts. Adding to the convenience is the easy accecability of this SEPA enabled service. All…