Eazipay shoulders the risk so that small businesses can reap the benefits
August 21, 2017
If starting a new company is a risky venture, then keeping it afloat once it has been launched is even riskier. So why should larger companies - which are generally seen as more secure - be granted the additional safety net of guaranteed payment collection by Direct Debit, when that same vital cash-flow protection isn’t offered to smaller companies?
If your business has a turnover of less than three million a year and you want to collect customer payments by Direct Debit, the chances are your bank will turn you down because you are seen as too great a risk for the bank to ‘sponsor’ your application to collect payments by Direct Debit.
Enter Eazipay, the Cambridgeshire-based company set up some fifteen years ago which collects and processes Direct Debits on behalf of SMEs and pays the money over to them.
Luisa Grey, a Director with Eazipay, explains: “Let’s say, for example, that you are a holiday park owner and you have rents, service and maintenance fees to collect from your caravan owners two or three times a year. Rather than send out hundreds of invoices with all their associated collection difficulties, life would be much easier if you could collect the payments by Direct Debit.
“But you can’t because banks are risk averse and if your turnover is below three million they won’t underwrite the risk. This is where we come in. Eazipay was set up to be a Direct Debit collection bureau. We have all the accreditations the banks need, so we can collect Direct Debits on behalf of our clients and pay the money over to them.
“That way, all the advantages of Direct Debit collection enjoyed by large companies – increased cash flow management, minimal late payments, reduced administration costs and most important of all, being paid in-full and on-time - can be made available to smaller companies which desperately need them.
“We can even collect money in Euros from customers based throughout Europe.”
Employing 24 full and part time staff in Ely, Cambridge, Eazipay was one of the first Direct Debit bureaus to receive ISO9001:2015 certification for Quality Management System and direct authorisation from City watchdog, the Financial Conduct Authority (FCA).
In addition to its Direct Debit collection service, Eazipay also offers a range of other automated payment processing services including Faster Payments, Direct Credit transactions, SEPA Direct Debits for payment collection in Euros, and a new card payment service allowing its clients to collect and process customer payments via debit and credit card.
For further press information, please contact:
Damion Clark at Real PR (Consultants) LLP. Tel: 01353 667934 or 07789 911314 Email: email@example.com