What are the advantages of Pre-Authorized Debits?
There are 3 significant advantages for businesses to collect payments through Pre-authorized debits.
Number one, they are automated. PADs can be scheduled in advance so you never have to worry about getting paid. On the scheduled dates, payments will be withdrawn from your customer’s bank account.
Number two, the business gets to initiate the payments. As a business owner, you never have to wait on customer initiated payments and you won’t have to chase them down for being late. This will result in improved cash flow and a much better relationship with your customer.
And the third advantage of collecting pre-authorized debits is cost savings. Most PAD processors charge a flat rate per transaction, not a percentage like credit cards. This can save you hundreds, or even thousands of dollars every month.
What are Pre-Authorized Debits (PADs)?
What are the advantages of Pre-Authorized Debits?
What kind of businesses are best suited to use authorized debits?
How do pre-authorized debits work?
Are pre-authorized debits secure?
How do I start accepting pre-authorized debits?
What is an authorization and why do I need it for pre-authorized debits?
