Metro Bank partners with Bottomline to enable direct debit for SMEs

Wednesday 5 February 2020 12:53 CET | News

Metro Bank has announced it is joining Bacs, the Pay.UK-operated payment system, according to Electronic Payments International.

As a result, Metro Bank is enabling direct debit origination for business customers through a new partnership with Bottomline Technologies.

Through this partnership, Metro Bank has deployed new technology to take greater control of its payments capabilities.

Metro Bank business customers will be able to create, automatically collect and manage payments via Direct Debit. This is a service that is sometimes not accessible to many smaller SMEs.  ​​​

76% of regular payments are made by Direct Debit. Furthermore, over 15% of small and 30% of medium-sized businesses accept Direct Debit as a payment method. Many of these are the types of businesses that are the mainstay of the modern economy.

In 2019, Metro Bank also announced a number of fintech partnerships. Specifically, it teamed up with Personetics, RMS Group Services, Funding Options, Conance, and DueDil. This is all part of the bank’s commitment to collaborating with UK SMEs and fintechs by embedding them into the products and services it provides.

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Keywords: Metro Bank, Bottomline, SMEs, payments
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech