Far more goods and services are now provided on a subscription basis, payed by Direct Debits instead of being bought outright. Nuapay provides a total Direct Debit package that allows PSPs to offer best-in-class services on a white-labelled basis.
The use of cards is an expensive option. As well as high fees, cards regularly expire, card numbers change frequently, there are delays in receiving money and ever-growing costs around data security.
For the ‘pay as you go’ business model, Direct Debits represent the most efficient way of collecting recurring payments as Bank accounts never expire, costs are minimal and customers very rarely switch banks.
Nuapay provides a complete environment for collecting recurring payments, going from customer signing a mandate to receipt of money.
Everything needed, including all banking requirements, is provided from a single, fully integrated cloud-based environment. This can be operated as a standalone application, or any of the features can be readily integrated with your environment using APIs or using other integration options.
With a streamlined online mandate signing process that covers all country by country variations, Nuapay provides a quick and easy way for payers to give you permission to take money from their account.
Nuapay e-Mandates can be implemented within your environment using URL redirect, overlays, or by building your own screens linking to Nuapay by API.
You also have the option for Nuapay to automatically manage your schedule of collections and exceptions in full compliance with scheme rules and processing calendars.
Where services are provided to many merchants, tracking and managing their activities can present logistical problems. To simplify this situation, Nuapay enables the use of virtual accounts. This allows the activities of each merchant to be seen in their own unique account, greatly simplifying the management and control of merchants.
The need to support Account-2-Account real-time payments will quickly grow in significance throughout this year. Nuapay offers full support for Account-2-Account real-time payments, providing an immediate opportunity for PSPs to get ahead through the adoption of a complete Direct Debit payment solution.
While Nuapay is relatively young, it utilises the systems developed by parent company Sentenial who deliver services to many of the world’s leading banks and corporates, currently processing in excess of €40 billion every year.
The world of payments and banking is undergoing major change. Alongside continued technological progress and rising customer expectations, regulators are now pushing for increased competition and innovation to meet the demands of the future.
Nuapay exists at the forefront of these trends, already offering API connectivity, access to Open Banking, and real-time payment processing to ensure your business capitalises on every new opportunity.