Collecting payments via Direct Debit has been made simple with Squarepay, enabling your business to draw payments from your customer’s financial institutions on a recurring basis. The customer simply authorises payments to be collected automatically from their bank account, keeping you in control of the payment process increasing cash flow, and ultimately allowing you to get paid on time.
COLLECT PAYMENTS USING DIRECT DEBIT
HOW DOES DIRECT DEBIT WORK?
Your Customer
STEP 1Your customer signs a Direct Debit Authority outlining the terms of the debit.
SETUP YOUR DIRECT DEBIT
STEP 2Setup your direct debit online via our secure client portal or API along with the customers Direct Debit Authority.
PROCESSING
STEP 3When debits become due Squarepay automatically sends debit instructions to your customer’s financial institution.
3-DAY SETTLEMENT
STEP 4You receive a detailed report of payments that have been successful.