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 a customer signing a mandate through to the receipt of the money.
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.
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.
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.
All Nuapay functionality can be accessed, managed and controlled by easy to implement RESTful APIs, and can be fully integrated with your systems to provide highly efficient automated end-to-end processing. We also support partial integration and legacy data transfers, allowing you to develop further capabilities as you grow.
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.