Leading BACS solutions provider, Data Interchange, has announced the launch of SmarterPay Cloud for direct debits and credits. SmarterPay Cloud is the latest development for Data Interchange, which has offered on-premise BACS funds transfer solutions for over 15 years.
The Bacs-approved payment solution offers a cloud-based managed bureau service. SmarterPay Cloud provides automated processing for organisations produce BACS files. Time consuming and error-prone rekeying is reduced and efficiency and reliability are increased. These benefits make SmarterPay Cloud particularly ideal for high volume direct debit originators, such as insurance companies, accountants and charities, which may produce several thousand direct debits per day.
SmarterPay Cloud also works as a contingency service to support businesses with existing software. There are many reasons why you might be unable to submit payment instructions to Bacs, including the expiration of a smart card, a hard disk failure or a virus attack. Whilst seemingly unlikely, nearly all organisations will experience an event that impacts your payment submissions. The SmarterPay Cloud contingency service allows you to be able to pay your staff and suppliers, and collect revenue from your customers, in the event of a problem.
The advantages of using SmarterPay Cloud over traditional on-premises software include fixed monthly costs rather than an initial software purchase and hardware and software to maintain, ensured compliance and support, and flexibility to match changing business levels.
“According to Bacs’ statistics, 8 out of 10 British adults have at least one direct debit, which creates around 103 million transactions being processed per day,” said Data Interchange Managing Director, Ewan Friend. “With 85% of people feeling positively about direct debits, the level of payment processing will continue its upward trend. SmarterPay Cloud offers a highly flexible solution and a great route to improved efficiency and smooth processing for greater levels of customer service.”