Simplifying debt collection
with open banking payments
with open banking payments
For Axactor, effective debt collection is all about people, building trust and finding good solutions that take care of both parties. Some of the most common problems they see in the industry today, are that consumers do not receive invoices on their preferred channel and that issuers often do not offer good or user-friendly payment methods.
As a technology-driven credit management platform, Axactor was looking for an innovative and cost-effective way to simplify how consumers could pay and manage their debt. Using Neonomics Payments, Axactor became the first in the debt collection industry to implement and offer secure and cost-efficient account-to-account payments for their customers and consumers. The solution is now integrated into their online and mobile platforms and can be embedded directly in their customers’ invoices.
Neonomics Payments not only offers consumers with the flexibility to pay straight away or to schedule a payment on a different date, but also a focus on the ease of the experience as a key factor in payment’s success. Working closely with Neonomics’ Design and Customer Success teams, Axactor was able to implement a streamlined user interface that out-performs all its other payment options in both cost and conversion. By delivering an easy payment method that is also efficient for end-users, it’s no wonder that Axactor has become one of the top 10 credit management providers in Europe.
The customer receives a notification and a link to open the invoice. With just a few clicks, they can either pay or schedule a payment online or directly from their phone.
Step one
The customer receives a SMS or email with a link to pay their invoice.
Step two
The customer chooses ‘pay directly from your bank’ from the payment options.
Step three
The customer selects their bank, the account to use, and authorises the payment.
Delivering innovation, streamlined processes, and fair treatment has made Axactor benchmark in the industry.
Increase your conversion rate with an embedded payment option that enables users to see their bank account balances and pay or scheduled payment right away.
The streamlined payment flow reduces the need for manual entry making it faster and easier for users to pay.
The entire payment process happens directly through the users own bank and security systems, no middlemen.
Arnt André Dullum, COO, Axactor
With Neonomics Payments, Axactor sees conversion rates of +85% on average, 14% higher than card payments.
Significantly reduce transaction fees associated with credit and debit card payments and eliminate interchange fees altogether.
Reduce payment settlement times from days to just hours and improve liquidity and predictability for your customers.
Retain key information such as KID number that are typically lost with other payment methods so you can make corrections quickly and easily if needed.
Arnt André Dullum, COO, Axactor
Arnt André Dullum, COO, Axactor