La management of non-payments is one of the most common (and stressful) challenges in the day-to-day life of companies. Often, tracking outstanding payments requires considerable effort, from contacting customers to manually reconciling payments. This is where EZpays comes in, a platform that promises to change the way companies handle these outstanding payments. Instead of just offering a tool to collect payments, EZpays proposes an automation system that seeks to reduce non-payments as much as possible. But how does it do it?
Open Banking and EZpays technology
EZpays operates through Open Banking, a technology that allows you to connect directly with more than 1,200 banks in Europe and the United Kingdom to manage payments securely and without intermediaries. Thus, the payment is made directly between the client's account and the company's account, leaving out the complexities and costs of transactions with traditional cards or direct debits. This banking connectivity technology is an evolution that is gaining ground, and in the case of EZpays it is used to provide specific solutions to the problems that many companies encounter in managing non-payments: reducing collection times, minimizing costs and keeping accounts up to date without extra work.
What does EZpays offer?
EZpays is not a payment gateway, it is a platform that charges on autopilot, from the invoice to the bank directly. Thanks to its system payment collections They complete the collections from the moment the invoice is issued until it reaches the bank. Their focus is to automate and facilitate the flow of collections and recovery of non-payments, something it achieves through several functionalities designed to reduce manual work for the accounting team and minimize the risk of late payments.
Among its main functions, we find:
- Direct payment without intermediaries: It allows payments to be made directly from the client's bank account, without having to use cards or pay high fees. This not only makes the process safer, but also reduces the costs of each transaction.
- Automatic reconciliation in real time: EZpays maintains a direct integration with the company's ERP, reconciling payments automatically. This means that each transaction is recorded and reconciled without human intervention, helping to avoid errors and saving time on manual reviews.
- Recovery of unpaid debts: One of EZpays' strengths is its ability to recover unpaid debts in an automated manner. Thanks to its integrated debt collection technology, the platform promises a recovery rate of up to 75% of late payments, allowing companies to maintain a more stable and healthy cash flow.
- Payments via link: EZpays offers the option to send a payment link to customers, simplifying the process and making it more convenient for those who prefer not to use direct debits. In turn, the status of each payment can be monitored in real time from the control panel.
- Integration with ERPs: The platform is compatible with more than 20 ERP systems, making adoption easy for companies that already have a specific workflow. This allows companies to maintain their own system without the need for significant changes.
Benefits for the company
Companies that adopt EZpays not only improve their collections process, but also achieve significant advantages in terms of costs and time:
- Savings on commissions: Eliminating typical payment intermediaries, such as credit cards, means a reduction in commissions for each transaction, which translates into long-term financial savings. It also avoids the costs arising from returned receipts in SEPA processes.
- Efficiency in management: Automating payment reconciliation saves businesses up to 90% of management time collections and allows teams to focus on higher-value tasks. Instead of tracking down every payment, the company can rest assured that its accounting is kept up to date automatically.
- Increase in recovery rate: Recovering unpaid debts is one of the most costly and time-consuming challenges for businesses. EZpays not only improves the recovery rate, but does so automatically, maintaining a constant cash flow and reducing the negative effects of late payments.
- Better customer experience: Making payment easy is also a benefit for customers. With EZpays, they can avoid direct debit issues and duplicate payments. Plus, by offering a direct payment link, the process is quicker and without any additional paperwork.
EZpays vs. the usual options
When you compare EZpays to other payment methods, it's clear why it's an attractive option:
- Bank transfers: Transfers require customers to manually enter their data and verify receipts, in addition to the company following up. With EZpays, each payment is automatically reconciled, avoiding errors due to incorrectly entered data and duplication of work.
- SEPA direct debit: SEPA payments often incur additional costs when there are chargebacks or retentions, as well as being longer processes. EZpays eliminates these inconveniences by handling each transaction directly, minimizing chargebacks and ensuring that each payment is completed without manual intervention.
Security and regulatory compliance
For businesses, the security of their transactions is as important as efficiency. EZpays has a robust security system, as all transactions are managed through a Electronic Money Institution regulated by the European Central Bank. This ensures that money is kept safe and without risk when being invested or lent.
The platform also adheres to the regulations PSD2, a European standard that protects customers' financial data. This ensures that personal and banking data are protected and that transactions are secure at all times.
Who is EZpays ideal for?
EZpays is a flexible platform that can be adapted to companies in various sectors. For example, those that operate under business models subscription or that require recurring charges, such as gyms, service companies, or SaaS platforms, can especially benefit from its collection automation features. It is also ideal for companies that need to recover late payments, as its automated system makes it easy to maintain cash flow without wearing out the accounting team.
How to start using EZpays
The process of incorporation into EZpays is fast and easy, as the platform has been designed to integrate without altering the company's workflows. Companies can start using its payment automation and reconciliation functions in a short time, allowing them to notice an improvement in their collection management from the start.
Essentially, EZpays is a solution that goes beyond being a simple collection tool. By combining Open Banking technology with automation and reconciliation features, the platform offers an effective and secure alternative for managing non-payments. Its proposition allows companies to improve their cash flow, reduce management costs and commissions, and offer a simplified payment experience to their customers.
For any company with accumulated unpaid bills or that wants to modernize its collection processes, EZpays represents an option that not only saves time and money, but also facilitates a more fluid and transparent relationship with customers.