oboloo Glossary

Direct Debit For Small Business

oboloo Glossary

Direct Debit For Small Business

Direct Debit is an automated payment system that allows businesses to collect payments from customers on a regular basis. The system works by collecting funds directly from the customer’s bank account, automatically on the date specified by the business owner. This type of payment method is perfect for businesses who need regular access to cashflow as it provides a secure and dependable way to receive money from customers. Additionally, using Direct Debit eliminates the need for invoicing and accounting – streamlining billing processes so small business owners can focus on growing their business instead.