Improved cashflow through negotiated settlements

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Generic RtP Example Video

Problem

Problem

Up to 8.3 million people in the UK are unable to pay off debts or household bills, according to a report from the National Audit Office (NAO).

UK households saw their annual outgoings surpass their income for the first time in nearly 30 years in 2017, according to the Office for National Statistics (ONS).

Current payment options make it difficult for the payee to see the payers intent or to engage in a dialogue where issues can be resolved quickly and amicably.

Problem
Solutions

Solutions

RtP is part of the new payment initiative and directive and it will
be adopted and introduced through 2019

RtP Gives advance notice and historical behavioral data to a
business to plan cash flow effectively and efficiently

It offers an option that avoids the expense and need for the payee to
engage in the more normal practice of escalating nonpayment issues
through a collections department, solicitors, courts and bailiffs

RtP is a pragmatic approach to receiving payments that enables the payer to continue to receive the service or product based on a flexible payment

It retains customer loyalty and engenders preferred
supplier status

It offers a new flexible way to pay bills for those who need it. With
more and more people in the UK working in zero hour contracts
and without the certainty of a full-time job, theres a need for
companies to offer their clients some flexibility.

It works on the assumption that clients want to pay for products and
services without the fear and stigma normally associated with
falling into arrears.

It gives information and data to react, manage and gain a
competitive advantage

RtP distinguishes itself from regular direct debit payments in that it
enables the payer to engage in a dialogue with the payee. If the
payer is unable to make a payment on the specified date, they can
ask for an extension, make a partial payment, send a note or even
decline to pay.

We offer a white-labelled product that can be integrated with existing and legacy systems.
It consists of two main components:
Payee Console
Payee Console

Payee Console

The web based payee console is designed to enable multiple operators to maintain a dialogue with the payer. It includes access control and role based permissions which are configurable.

Payer App

Payer App

This is a white labelled mobile app which includes secure authentication and CoP.

CoP is a new requirement and is a fully automated process to ensure the funds reach the intended target.

Market

Market

Overall in the UK, people owed nearly £1.6 trillion at the end of June 2018,
up from £1.55tn a year ago.

Up to 8.3 million people in the UK are unable to pay off debts or household bills, according to a report from the
National Audit Office (NAO).

It says that HM Treasury needs to do more to understand the scale of problem debt, and how it impacts people's lives.

UK households saw their annual outgoings surpass their income for the first time in nearly 30 years in 2017, according to the Office for National Statistics (ONS).

The amount HMRC pays to private-sector debt collectors has risen by more than 500% in three years, suggesting it may be stepping up the pressure on people who cannot pay their tax bills.

The figure rose to £39.1m in 2017, which was 62% higher than the £24.1m that HMRC spent on these services in 2016, according to the accountancy firm UHY Hacker Young, which obtained the data. The figure has increased annually for several years: it stood at £6.2m in 2014, then rose to £12.5m in 2015.

Any company big or small that offers a product or service that their clients pay for on a subscription basis.

This includes but is not limited to:

  • Utilities

    Utilities

    Utilities
  • Communications

    Communications

    Communications
  • Entertainment

    Entertainment

    TV, Sky, Netflix
  • Loans

    Loans

    Loans
  • Mortgage payments

    Mortgage payments

    Mortgage payments
  • Rent

    Rent

    Rent
  • Council Tax

    Council Tax

    Council Tax
Business Model

Business Model

Fully compliant or bespoke, pick n mix , we can supply to suit your specific needs, lets talk about exactly what you want

  • Pay as you go

    Pay as you go

  • Software licence

    Software licence

  • SALE

    SALE

Team

Team

We are a consortium of individuals, working together in the payment sector to challenge, disrupt and innovate, we have very experienced senior Board
level through to newly graduated people. We have developed products for the payment sector, built on new payment architectures, compliant
yet intended to disrupt and/or revolutionise.

Were a team of thinkers, developers, designers, UX-ers and inventors who are continuously looking for ways to improve things using technology.

We offer our products in a flexible way to suit the needs of the end of user, with our partners objectives and strategic goals foremost.

We create solutions that make things better for the organisations we work with. We help our clients improve everything from efficiency to revenues, staff engagement to customer loyalty.


Example of our Schematic options.
To include, but not limited to: RtP Transaction Lifecycles, Audit Trails, User Access Control, BACS DD Handling.

Schematic Options

Time Frame

The pay.uk framework has now been launched and we are ready to take enquiries, talk to us now to understand more about Request to Pay