Direct Debit Experts Launch Unique Customer ID Technology

Direct Debit Limited, a major automated payment systems provider has launched DD-iD™. The product automates expensive manual mandatory ID checks saving businesses and Banks a fortune!

July 2005 saw the governing body of the Direct Debit Scheme, BPSL (BACS Payment Schemes Limited) amend its rules, requiring an ID check be performed on all paperless¹ direct debit instructions.

Driven by the major UK Banks, the requirement aims to drive down fraud and errors and improve scheme compliance by requiring businesses to verify that customers signed up over the phone or Internet are who they say they are. This is achieved by checking personal details such as passport, credit card, driving licence and electoral data against the UK’s major available identity databases.

For businesses, however, such ID checks currently require an expensive manual paper-chase that often mitigates the benefits offered by paperless sign-ups.

This issue has been solved by Direct Debit Limited, a market leader in Direct Debit technology that has come up with an ingenious answer - DD-iD™ - which offers the perfect solution for Banks and originators alike.

The product totally automates all ID checks which can be now undertaken in a second, rather than days -- at a mere fraction of the cost. This creates massive financial and time savings for originators and reduces liability and fraud losses for the Banks, among numerous other benefits².

Gerry Hill, Direct Debit Limited’s Managing Director commented that, “DD-iD™ replaces the once costly manual ID checks with a simple and incredibly low cost, accurate online solution.

“With one simple and easy online search, originators can use the system to verify their customers’ details in real time. This produces spectacular savings for our customers against manual methods. These benefits are only underscored by the reduction in risk and fraud for both Bank and originator.”

Ends.

Contact: Patrick Nobbs, Head of Marketing and Communications, Direct Debit Limited 0208 408 7888.
www.directdebit.com.

Note to editors: Direct Debit Limited develops intelligent payment solutions, delivering high quality collections software to over 16,000 locations in the UK and international business locations. The company is expert when it comes to direct debit collections and all types of automated payments. The company’s solutions bring proven cost and time benefits, unbeatable security and cutting-edge technology to their clients, covering the needs of small businesses, right up to those of major corporations and the Banking sector. The company provides solutions for both direct debit and direct credit transactions such as payroll, supplier payments, expenses and dividends.

¹ Paperless direct debit instructions are allowed under the Direct Debit Scheme governed by BACS Payment Schemes Limited in the UK. Consumers can be signed up by a Bank approved originator over the telephone or the Internet without the need for a signed paper mandate. Businesses that benefit most from this kind of sign-up method tend to be those that sign up large volumes of customers often through a call centre environment.

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² DD-iD® provides a wide range of benefits for Banks and businesses over and above cost and efficiency benefits. The product will additionally enable users to:

• Confirm the identity of an individual with greater speed and accuracy across a range of delivery channels, mutually protecting both parties
• Protect consumers and commerce from fraudsters
• Simplify regulatory and social responsibility
• Reduce the time and cost necessary to perform an identity check
• Reduces risk and liability claims for Banks and businesses
• Ensures scheme best practice and compliance, building confidence in the Paperless sign-up service
• Remove the need for storing and collecting identity documents
• Meet the 2 nd European Anti Laundering Directive, Data Protection Act and Proceeds of Crime Act
• Meet the Paperless Scheme requirements as defined by its governing body, BPSL

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