Vax Cleans Up Card Failure with GoCardless
There is a lot to be said recently about the scourge of the credit culture especially within the past few years.
As such, not only do high interest rates affect consumers, business also take a toll considering the high charges to process payments in the current structure.
If this weren’t enough, 5 percent of credit card payments fail outright due to expiry or cancellation. This has severe implications regarding a brand’s cashflow, and it can also mean customers are hit with late payments fees accompanied by a real headache of an experience overall.
It is because of this that more and more businesses are turning to direct debit as a seamless and free alternative, giving their customers interest-free payments over a manageable timescale and plan their finances accordingly.
Vax is a British company that is well known for its Orange Tub vacuum cleaner, and it actually has fallen in line recently and joined the direct debit revolution. As it happens, it recently implemented GoCardless to improve the payment experience for customers.
And what about the results of the move? 45 percent of customers have decided to use the pay monthly facility and Vax has decreased payment failure rates by over 17 percent, and its team has saved hours of admin every week.
“Payment complaints used to be in the top five of our recognized issues. Now they don’t feature at all. Our customers are extremely important to us and we needed a company we can trust and who share the same ethos.”
“We now have full visibility of the customer’s payments enabling us to automate the tracking process. As a result, we’re more productive. We can handle defaults more efficiently and, importantly, in a timely manner.”
“The support we received was excellent. It was tailored to our needs, with a mixture of conference calls, documents, templates and a site visit. The project was delivered within just 10 weeks, which was fantastic!”