Metro Bank is introducing direct debit origination for business customers in a partnership with Bottomline Technologies.
The new direct debit service for SMEs will be launched in the coming months, allowing business customers to create, automatically collect and manage payments via direct debit.
Around 76% of regular payments are made by direct debit and more than 15% of small and 30% of medium-sized businesses accept direct debit as a payment method.
Paul Riseborough (pictured), chief commercial officer at Metro Bank, said: “We’re seeing real transformation in the payments industry and this needs to benefit smaller SMEs too. By removing the complexity of regular payments we can save customers vital time, that can better be spent running and growing their businesses.”