Eazipay smashes £1billion Direct Debit collection mark
November 7, 2014
Cambridgeshire based Eazipay Ltd, the UKs largest Direct Debit processing company, is celebrating another major milestone for 2014 having just seen its Direct Debit processing and collection volumes break the £1billion mark.
In september alone, over £27 million worth of Direct Debits were processed on behalf of its clients - a mix of SMEs and corporate organisations - taking the companys total processng volumes to a staggering £1,001,753,245.63 since the figures were first collated in 2008.
The recent success follows what will be Eazipay's best ever year for processing volumes and overall performance. At the end of September 2014 a total of just over £244 million worth of Direct Debits had been processed, compared to a total of £235 million for the whole of 2013 - its previous record breaking year.
Luisa Grey, Eazipay's Director, comments, "We're absolutly delighted to have broken the £1billion mark for Direct Debit collections. Throughout the recent recession we have seen Direct Debit processing volumes increase month-on-month and year-on-year.
"The business is clearly going from strength to strength and I'd like to thank all of our staff and business partners for their hard work, committment and dedication."
The dramatic increase in the volume of work compared to previous years is a clear indication that, despite difficult trading conditions, more and more businesses are recognising that collecting regular payments by Direct Debit is the single most effecient way of controlling and regularising their cash flow.
"The fact is that 'cash is still king' and companies are holding onto their cash as a hedge against uncertain economic times", add Luisa. "With a Direct Debit system in place, companies can predict with near 100 per cent accuracy what cash is coming into the business, and crucially, when that cash will arrive."
In order to meet the demands of its burgeoning customer base, Eazipay now employs 21 full and part-time staff at its head office in Littleport, Cambridge.
NOTES TO EDITORS
About Eazipay Ltd
- Established in 2002 by local entrepreneurs Kathy and Ron Bradney, and their colleague, Luisa Grey, Eazipay Ltd is one of the UK’s largest Direct Debit processing companies.
- Eazipay increased its turnover by 20% during 2013 and the company now provides regular Direct Debit services to over 1,600 SMEs and corporate organisations in a wide range of market sectors throughout the UK, Europe and beyond.
- In 2013 Eazipay recorded its best ever year for Direct Debit collections when over £235 million worth of Direct Debits were processed on behalf of its clients.
- Eazipay was awarded ‘Affiliate’ status from Bacs, the governing body for Direct Debit processing in the UK payments industry. The company is now a member of an exclusive group of 55 other Bacs Affiliates, which includes representatives from some of the UK’s leading businesses, banks and building societies, as well as government organisations and banking technology providers.
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