No Cure No Pay – How to Set Up and Process Recurring Direct Debit

Incasso No Cure No Pay is a convenient payment method that reduces the risk of a customer missing a payment or causing a delay in processing their invoice. This payment method involves the payer signing an agreement with a business to allow their bank account to be charged regularly on a monthly, quarterly, semi-annual, or yearly basis. This is a common way to pay bills like software subscriptions, utility bills, or auto loans.

The benefit of this payment method for businesses is that it allows them to optimize their cash flow and eliminates the risk of a missed or delayed payment from customers. It also helps prevent fraud because the details of each payment are logged accurately in the system. In addition, if the payment is disputed by the customer, it is easy to process a chargeback because all of the transaction data is verified.

Revolutionizing Collections: The No Cure No Pay Advantage in Direct Debit

When it comes to setting up and processing recurring direct debit, businesses can either work with their bank to validate the account information or use an ACH processing partner that offers real-time validation services. Plaid Balance, for example, can verify a customer’s account balance in just seconds and help reduce NSF fees and ACH returns.

When a customer does not have enough funds in their bank account to make the debit on their payment date, the debit will fail and a return will be sent to their banking institution. The amount due will be deducted from the next scheduled payment date.

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Spread the loveIncasso No Cure No Pay is a convenient payment method that reduces the risk of a customer missing a payment or causing a delay in processing their invoice. This payment method involves the payer signing an agreement with a business to allow their bank account to be charged regularly on a monthly, quarterly,…