Most consumers and businesses are pretty boring, they make the same purchases from the same suppliers again and again which is a massive opportunity to extend direct debiting usage:
- Amazon Go’s ‘Self Checkout’ system threatens to change retailing for ever. Amazon Go has no registers; shoppers scan into the store with a free app, shop as normal, and leave the store with the items billed (direct debited) to an Amazon account.
- SlimPay, a pan-Europe subscription payment service covering 35 countries for collecting consumer-to-business recurring payments. It is already used by 2,000+ merchants across Europe which range from the very large, e.g. EDF, tripadvisor, to SMEs throughout the region. Basically, SlimPay provides a smart recurring payments gateway based on direct debit.
Potential direct debiting usage
Research by SlimPay and Innopay showed that the stage of subscriptions per type of expenditure has huge potential:
Source & Copyright©2016 - SlimPay and Innopay
New efficiencies in using direct debiting
There has been increasing focus on using direct debiting effectively. AccessPay recently published a blog on “Direct Debit Best Practice – 5 Tips for Better Cash Flow”, see, and an important table on how to use direct debiting effectively:
Source & Copyright©2017 - AccessPay
CTMfile take: Adyen, the leading multi-channel payment systems provider, believes that, “The ultimate payments experience is invisible.” Is being direct debited the ultimate payment experience? Not always, but direct debiting does offer major cost savings and increased customer loyalty. It is probably the most under utilised payment service today.
MyBank SEPA Direct Debit Core Mandates solution goes live across Eurozone
Consumers and corporates can now agree online and in real time that their account can be debited
Ultimate receivables collection: e-invoicing + direct debiting + dynamic financing
B2B collection systems and solutions to optimise your overall B2B Supply Chain
SlimPay open up new markets with pan-European frictionless direct debiting
Consumers throughout Europe are adopting recurring payments for all sorts of purchases as long as payment service is easy to use and protects the security concerns of both consumers and businesses