Kevin Lord

Today marks the launch of the governments Fair Payment Code. Read the full article from Credit Connect UK Late payments are causing small business, in particularly to suffer hardships and in a lot of cases in recent years fail. With SME's estimated being owed in the region of £22,000 due to late payment it is vital to review how payment is collected swiftly and without friction in the payment medium and with the business relationships not being harmed. The Government have an awards scheme in place to reward companies paying on time and also to build up a clear picture of those who do not. All SME's deserve to be paid on time as some resort to taking out loans to cover costs and mounting debt. Time to review how to get paid, why should a business wait for a payment to be made against invoice. The use of card payments although come with a cost reduce the time to get paid. Solutions such as open banking payments and using a pay by link service could support in keeping the cashflow flowing Good Business Pays has lots of very helpful information including their late and slow payment lists. #sme #latepayment #paymentservices exactly.com can help #reducetime #construction #retail #hospitality #fair #paybylink #openbanking #paybybank #mastercard #Visa #B2B

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As businesses face delayed payments and cash flow challenges, adopting commercial cards and automated accounts receivable (AR) solutions can provide much-needed relief. By staying informed about technological advancements and choosing the right partners, companies can enhance their financial stability and operational efficiency by empowering their own AR teams. At Previse, our solutions combine smart data with automation technology to get suppliers paid as early as day one, giving suppliers greater working capital and allowing them to remain agile and navigate this uncertain climate. Learn more about Previse’s solutions here: https://previse.co/en-gb/ Read more about how commercial cards and automation are transforming AR in PYMNTS: https://lnkd.in/ejcR7QxN #AI #technology #virtualcards #accountsreceivable #innovation #machinelearning #automation

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Cashflows And Judopay To Offer More Businesses Access To Flexible Funding Read the full story here: 👇 https://lnkd.in/eRY6xmFB #funding #SMEs #payments #fintechboostup

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Where are interest rates heading?   The recent reduction in the Bank of England base rate marked the first interest rate decrease since 2020. Is it a sign of things to come?   As Saascoms are a supplier of bespoke customer services software to the credit and collections industry, interest rates are of particular importance. Higher interest rates can lead to increased debt repayments and subsequently an increase in defaults. In addition, the debt can grow faster due to the interest rate rising. This acts as a double negative for the borrower.   On the other hand, lower interest rates may reduce repayments or enable borrowers to increase their repayments, paying off the debt sooner.   Economists broadly agree that low interest rates (if coupled with low inflation) create the best environment for economic growth. That in turn can benefit those in debt, but perversely as the cost of money (the interest you pay) goes down, people are encouraged to borrow more through tempting finance deals.   The Bank of England and new government would like to see interest rates fall, but with the ongoing Ukraine war, US economic uncertainty (and election), domestic unrest and slow European growth it’s difficult to predict.   This week inflation rose, and is predicted to rise to 2.75%, but the Bank of England says the underlying pressures are low. However, this is the organisation that didn’t react quick enough to post pandemic inflation. So make up your own mind?   Wherever interest rates are heading it is important to be aware how it can affect you, your finances and your business; building in resilience whatever the economy throws at you. At Saascoms we believe in treating customers fairly and are members of the Credit Services Association and Money Advice Liaison Group Ltd. #financialplanning #customerservice #CX #awardwinning #economy #creditandcollections

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We're not just another comparison website. Here's why: 1️⃣ - Real-time and transparent pricing, even generating Payment Systems Regulator quotations from multiple acquirers. 2️⃣ - In-site adjustments to match your EXACT payments profile.  3️⃣ - Most leading U.K. acquirers are on site. 4️⃣ - Unique middleware that integrates your application straight into your chosen acquirer.  5️⃣ - Apply DIRECTLY on site and be kept up to date with the progress of your applications. 6️⃣- We do NOT aggregate your data across firms to bombard you with phone calls. 7️⃣ - Knowledgeable staff on hand to help with any questions whilst in search.  Head to the website now ➡️

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SMEs across the UK are facing a growing challenge with late payments. While the government’s recognition of this crisis is a step in the right direction, there’s no need to wait for regulatory changes to make a difference in your cash flow. At Paycada, we help businesses optimise the accounts receivable process. Instead of wasting time chasing unpaid invoices, leverage automation and advanced tools to streamline collections and get paid faster. For persistent overdue invoices, our Enhanced Collection Service, powered by Bluestone Credit Management, an FCA-regulated collections agency, helps businesses recover what they’re owed - quickly and effectively. Don’t let late payments hold your business back. 👇 📩 [email protected] 📆 Book a demo: https://lnkd.in/eZMEAc7X #latepayments #SMEs #debtrecovery #cashflow

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Thinking of taking your small business online in the UK? Rob Ward from Worldpay suggests SMBs start with a well-defined strategy before selecting a payment provider. Ensuring your checkout process, payment flow, and tech needs align with your business model is key. This groundwork allows businesses to scale effectively, providing a solid foundation in the competitive ecommerce landscape in the UK. Episode goes live tomorrow. Listen any where you get your podcasts. #payments #fintech #worldpay

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The first full use case, at scale, of - Up front data - Re-useable ID - Digital sale ready listings - Up front searches - Collective use of OPDA principles and data trust framework We will be open with the learning and impact (positive or negative) on transaction times, and customer experience. Collaboration with like-minded partners is the key to bringing game changers like this to life. We have more coming in the next few months, but for now I am excited to put some theory into practice and see what happens. Moverly Connells Group tmgroup (UK) ltd. Open Property Data Association

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UK’s Largest Independent Payments Broker Launches Tech-Enabled Cash Service to Boost SME Cash Flow Richard Bradley, CEO of acceptcards® Independent Payment Experts and Accept Cash, said: “The cost and time implications of depositing cash is currently squeezing SMEs financially and operationally. Not only does it take time out of a working week for a staff member to cash up and physically go to a bank, it’s also increasingly difficult to do so given the rise in high street banking closures. Added to this, the fees associated with depositing cash can be very high, making it difficult for SMEs – who want to be able to offer cash to their customers – to balance the books and forecast cash flow. “As an independent payments broker, we pride ourselves in disrupting this sector with the latest innovations in technology. Cash is here to stay and we’ve identified that SMEs need to be able to deposit cash quickly and affordably. Accept Cash’s innovative approach and use of new technology will allow businesses to access cash in their bank accounts on the same day – without having to visit a bank – by combining open banking and technology with secure smart safes. We’re pleased to be one of the very few providers in the UK to offer this same day settlement service and respond to demand. “Not only is Accept Cash the perfect solution to solving a big headache for businesses processing cash, it is likely to also encourage some businesses who have moved away from cash to return to accepting it. Ultimately, consumers need to have the choice of both cash and card payments and this should not be prohibitive in any way for SMEs; after all, they remain the backbone of the UK’s economy.” https://lnkd.in/ervZ2Jku Martin Smith Kayley Worsley MCIPR Jason Costello Richard James West #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Pipe Makes Strategic Push Into UK Through GoCardless Partnership “Our partnership with GoCardless in the UK market marks a significant step forward in our mission to empower small businesses worldwide with the financing and services they need to grow and prosper,” said Luke Voiles, CEO of Pipe. “By combining Pipe’s customer-friendly solution with GoCardless’s extensive reach in the UK market, we’re revolutionizing how small businesses access capital and providing them with the financial tools they need to thrive in today’s dynamic economy.” https://lnkd.in/euXK52QH Bilal Mahmood Jolawn Victor Corey Waller Robbie Weir Amy Loh Lukas Wagner Alfredo Jimenez #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Have you booked your spot for our next webinar - Commercial Lending: Where next for UK small business? Join our experts as they delve into: ✅ An overview of the economic landscape ✅ Predictions for the next 3 months ✅ Lending and credit growth opportunities in a resurgent market Don’t miss out, grab your place: https://lnkd.in/eT_EUrFb #Lending #UKEconomy #CommercialLending

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Writing for PaymentsJournal, Tom Nawrocki shares the myriad of benefits for businesses that commit to an automated payments process. Automation of payment processes allows accounts receivable and accounts payable functions to grow, helping companies maintain tighter control of their capital and avoiding cash flow squeezes. Previse’s SmartPay uses smart data and AI to automate the payment process to help track unnecessary spending and flag potential breakdowns and challenges in processes: https://previse.co/en-gb/ Read more about the benefits of automating payment processes here: https://lnkd.in/e7ECw5tY #payments #automation #tech #innovation #cashlow #b2bpayments #fintech #technology #smartdata #AI

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Find out how Marks Electrical Group plc have saved 80% on transaction fees compared to card in their first year using Vyne Pay with bank. Read the full case study here 👉 https://hubs.la/Q02zXXv_0 #openbanking #payments

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Following the election, all eyes are on the UK’s economic landscape and the effects a new government could have on SMEs and commercial lending. Join us for our next webinar - Commercial Lending: Where next for UK small business? - where our experts will be sharing insights and next-step considerations for the rest of 2024. Book your free spot for Tuesday 17 September here: https://lnkd.in/eed5Vpz8 #Lending #UKEconomy #CommercialLending

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Read our latest blog 📰 to see how changing up your payment management system could save you money! 💸🧠 #business #crezco #fintech #openbanking #digital #ukbusiness #accountancy #accountantsuk #smallbusiness #lancashirebusiness #smallbusiness #blackburnwithdarwen #lancashirebusiness #growingownerswealth #gowandpartners

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💻 New blog post: Expanding Your Financial Services Business to the UK Are you considering expanding your financial business firm into the UK? Our latest article outlines the essential steps for setting up your financial services business in the UK. Click the link now to explore the main considerations, from understanding the FCA's regulatory requirements to choosing the right business structure (branch vs. subsidiary). Gain insights into direct FCA authorisation versus operating as an appointed representative, and explore best practices for a successful market entry. Read more here: https://lnkd.in/ebTyPSqq #financialservices #financialservicesnews #fintech #growth #fca #fcaregulation #regulation

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📝 Is Your Client Onboarding Costing You Business? 📝 First impressions are everything. A seamless onboarding process isn't just nice to have—it's essential for building trust and setting the foundation for lasting client relationships At Digital Wealth Solutions, we're passionate about empowering advisers with cutting-edge tools that make onboarding a breeze: ✨ Branded client portals ✨ Secure document sharing ✨ Automated workflows ✨ Video conferencing integration Imagine welcoming new clients with a personalised, tech-savvy experience that reflects your firm's professionalism. Our solutions not only impress clients but also free up your time to focus on what matters most—providing exceptional advice. Discover how to create unforgettable first impressions with our platform: https://lnkd.in/ehi4qurG What is your biggest challenge when onboarding new clients? 🚀 Ready to transform your onboarding in 2024? We're offering a limited-time FREE trial for the rest of the year to jumpstart your digital transformation. Don't miss out—claim your 2024 trial spot now before they're gone! #ClientOnboarding #AdviserTech #FinancialPlanning #DigitalWealthSolutions #2024

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The UK's Payment Systems Regulator (PSR) is moving forward with plans to expand Variable Recurring Payments (VRPs).   VRPs are a type of payment setup where the amount and/or frequency of the payments can change based on certain conditions or user actions. They offer flexibility, making them ideal for services with fluctuating costs like utilities and subscriptions.   To ensure VRPs are safe and widely adopted, proper regulation is essential. The PSR is exploring key regulations such as mandatory participation and fair pricing to promote effective and secure implementation.   💬 What are your thoughts on VRPs and their regulation? Let’s chat!   #VRP #Payments #DigitalPayments #FinTech #Regulation #DigitalPayments

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