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New Ely offices for growing direct debit bureau

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For a company set up with the seemingly modest ambition of processing direct debits for gym members, Eazipay has grown beyond expectations and evolved into one of the leading direct debit bureaux in the country.

In the first three months of 2016, Eazipay processed over £100 million of Direct Debits, while March broke all records with almost £40 million processed in one month alone. This comes on the back of record turnover of £1.4 million in 2015.

So how does a company go from a single employee in 2002, to employing 24 staff working out of new offices in 2016? If your business wants to collect money from your customers by direct debit, you will need a special arrangement with your bank. Your bank may well consider that you are too high a risk and turn you down. That’s where Eazipay comes in.  It will handle all your direct debit needs for you.

The brainchild of successful Cambridgeshire entrepreneurs Kathy and Ron Bradney, Eazipay is an example of necessity being the mother of invention, and grew from the need to collect monthly membership fees for their gyms.

Realising that by encouraging its members to pay by Direct Debit, Kathy - who opened her first gym in 1992 - could accurately predict monthly income. Seizing the opportunity, Ron and Kathy formed Eazipay as a simple, albeit, separate way to process customer payments. The company started in a small rented office in e-Sapce North, Littleport, with just one employee, Luisa Grey, who is now a director and the business began to grow.

Ron, Kathy and Luisa had one of those ‘eureka’ moments over coffee one day and it became evident, very quickly, that the idea would work for other companies, not just gyms. So, after just a few weeks they signed up their first non-gym client.

The company grew quickly, and working in partnership with Barclays Bank, Eazipay developed the whole concept of a facilities management direct debit bureaux, enabling them to collect money for other companies.

For the next eighteen months, Eazipay gradually acquired more clients and by the end of 2004 it had 58 companies using its services – still a far cry from the 1,700 that are signed up now. Almost all of the new clients came through recommendation. By 2009, Eazipay boasted 250 customers, a substantially increased turnover and a growing reputation as the leading direct debit bureau in the country.

Thye recession knocked many companies off course but Eazipay didn't just survive, it flourished; in bad times cash-flow is king and there is no better way of achieving that goal than through the regularity and reliability of direct debit.

The company passed rigorous checks to acquire Bacs Approved status and was one of the first Direct Debit bureaux in the country to receive the ISO9001:2008 certification for its Quality Management System. It also became the first direct debit bureau to gain direct authorisation as a Payment Institution from City watchdog, the Financial Conduct Authority (FCA).

In 2011 Eazipay acquired Bacs Affiliate status. This exclusive group, which includes representatives from some of the UK's leading businesses, banks and building societies, gives the company a chance to have its say on the future of electronic payment processing in the UK.

For the next few years Eazipay continued with its impressive upwards trajectory , enjoying year on year growth in clients, turnover and staff numbers. Eazipay also began to acquire European clients to add to its impressive UK portfolio.

Today, there are new ventures on the horizon. A new bespoke software is fast developing into a system which will make the company’s service offering even better and Ron, Kathy and Luisa are developing a number of new initiatives.

Eazipay is working with Modulr to provide a platform that simplifies complex payment flows, and as a result can now transfer payments of up to £100,000 in under one day thanks to its use of the Faster Payments system.

Eazipay has also entered into a joint venture with Sentenial Ltd and is now a successful SEPA agent. SEPA stands for Single European Payment Area and the agreement allows the company to provide a SEPA Direct Debit service to clients wanting to collect payments in Euros.

The company can also help with wage and salary payments through its Direct Credit payment operation, as well as assisting with payroll files processing. If that wasn’t enough, Eazipay is also investigating the possibility of becoming involved with Master Merchant type card payments.

Eazipay recently moved into new offices on the Lancaster Way Business Park in Ely. With all of the above, and with further expansion plans in both the UK and overseas, it's clear that the fire still burns as fiercely as ever.

Last Updated ( Wednesday, 07 December 2016 10:53 )