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.
Unique in the market, Nuapay offers the newest, most mobile friendly way to sign up to Direct Debits, with our Open Banking e-mandates.
Unlike traditional methods, where customers manually enter their bank account details, with Open Banking e-mandates, payers share their account details seamlessly by authorising the initial transaction using only the biometrics on their phone.
This makes the process significantly easier for payers, ensuring a larger number of potential customers convert into regular subscribers. It also ensures the first payment is received in real-time via bank transfer, reducing risk of fraud and chargebacks, while subsequent payments are also less likely to fail as the payer’s details have been validated.
It is the mobile friendly way to pay, for digital subscriber services.
Everything you might need, including banking and sponsorship (Creditor ID / SUN), 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.
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.