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care homes see Direct Debit as a way to protect cash flow

June 20, 2019

care home

Cambridgeshire-based Direct Debit and automated payment processing company, Eazipay Ltd, has reported a spike in the number of Care Homes looking at Direct Debit as a means of collecting their fees.

The company, which has been at the forefront of collecting and processing automated payments like Direct Debit for over 17 years, is receiving regular calls from Care Homes across the country actively considering using Direct Debit as a means of collecting fees rather than having to rely on costly invoicing and the risk of extended payment delays.

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eazipay celebrates record start to 2019

May 21, 2019

One of the country’s leading Direct Debit and automated payment processing companies, Eazipay Ltd, has reported a record breaking start to the year with over £252 million worth of Direct Debits processed on behalf of its clients in the first four months of 2019.

Just over £207 million was processed over the same period in 2018, representing a 21% increase of almost £45 million.

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chancellor’s late payment proposals receive mixed response

March 21, 2019

The announcement that the Chancellor, Philip Hammond, has pledged to tackle the scourge of late payments in his Spring Statement has been given a cautious welcome by Eazipay Ltd, one of the country’s leading Direct Debit and automated payment processing companies.

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cost of collecting late payments rockets

December 12, 2018

The UK’s smallest businesses are facing a bill of £6.7 billion, up from £2.6 billion in 2017 – just to collect money they’re already owed, according to new research by Bacs Payment Schemes Limited (Bacs).

This latest research, from the people behind Direct Debit and Bacs Direct Credit in the UK, shows that the cost of recovering overdue money is now at an average of £9,000 for each business. Additionally, more than a third of small to medium sized enterprises (SMEs) coping with late payments are waiting two months beyond agreed terms to be paid. That’s double the number of businesses who said the same in 2017 (19 per cent).

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new record for Direct Debit and bacs direct credit payments

December 6, 2018

• New record of 123 million payments processed in a single day by Bacs
• Beats previous record of 114 million transactions recorded in August of this year

A new daily processing record has been set by Bacs Payment Schemes Limited (Bacs), the organisation behind Direct Debit and Bacs Direct Credit in the UK.

The new record of 123 million transactions was set on Thursday 29 November, surpassing the previous high of 114 million, which was recorded just three months earlier, and represents an increase of nearly 8 per cent.

The news underlines the continued appeal of automated payments to UK businesses and consumers, and comes on the back of a memorable 2017 in which Bacs processed over 6.34 billion payments, worth a total in excess of £4.9 Trillion.

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