Direct Debit Increases in Popularity
More British adults than ever before think direct debit is a good way to pay, according to research by Bacs Payment Schemes. Seventy-nine percent responded positively when asked what they thought of direct debit, compared with 74% in 2009.
With the number of adults responding positively to direct debit growing year-on-year, organisations have the opportunity to convert large volumes of customers and realise administrative and cost saving benefits.
Bacs research also shows that 63% of respondents prefer to pay their regular bills by direct debit rather than alternative options. Of those, 68% want to pay all their bills by direct debit unless there is no option to do so. Bacs’ figures also highlight that one in four direct debit payers are now using it more than 12 months previously, reinforcing direct debit’s growing popularity with consumers. In contrast with the 25% who now use direct debit more, 6% of British adults say they are using direct debit less than they were 12 months ago.
Mike Hutchinson, head of marketing for Bacs, said: “The high proportion of adults that are positive towards direct debit provides British businesses with a strong platform upon which they can build further sign-up with their customer base. To help businesses achieve higher take-up of direct debit, Bacs offers a wide range of marketing tools that businesses can use to create and enhance their sign-up campaigns.”