SMEs frustrated with delays to payments reaching their business bank accounts
We recently came across an article written in The Paypers. The Paypers is an independent source of news and analysis for professionals in the global payments and ecommerce community. The article was entitled ‘UK SMEs discontent over delayed payments.’
We found this particularly interesting, as Nochex allows most Merchants to get their hands on their money straight away.
“48% of UK SMEs are frustrated with delayed payments reaching their business bank accounts, a survey has found.”
“33% of respondents say late payments affect their ability to meet financial obligations on time, 17% feel late payments have a negative impact on staff up keeping including salaries, expense reimbursement and recruitment.”
Why Nochex is different to other payment services
At Nochex, we like to help our Merchants grow, and thrive in these highly competitive business environments. That’s why they are able to access their money straight away. Depending on the type of business, such as those organising events, we may ask Merchants to retain funds so that they are covered for something that might be beyond their control, such as an event cancellation.
Our ‘not so standard’ account features!
As well as having the ability to access your account instantly, a Nochex Merchant Account allows you to accept both Credit and Debit cards. Funds will be made available for release, and usually takes 3 days through the BACS system into your bank account. The Nochex Merchant Account also has a feature called ‘Auto Sweep’ enabling you to set up your account to withdraw funds into your bank account on a regular, automatic basis. If you’d like to know more about Auto Sweep, or how you can enable it on your account, contact your Account Management Team.
Help – but not just with processing payments!
As well as a dedicated Account Manager and technical support, Nochex also has extensive Marketing and Security support in place that can help you be safe and secure online, whilst also growing your business and sales.
We respect the data that we process, so we make sure that our systems are as secure as possible, through a variety of features. One of these features is 3DSecure Technology. 3DS is designed to reduce the possibility of fraudulent card use by authenticating the cardholder at the actual time of the transaction and subsequently reducing your exposure to disputed transactions and chargebacks.
Unlike other payment provider companies, such as PayPal and Stripe, 3DS is a standard feature of the Nochex payment process. 3DS enables Nochex to authenticate the transaction quicker, which then lets you get your hands on your money quicker!
3DS chargeback protection can also save you money by giving you an additional layer of protection if chargebacks occur. Just one chargeback may have big implications on a business.