Handepay, the card payments solutions provider and part of the PayPoint Group, has launched next-day settlement for all its customers. Independent businesses benefiting from Handepay’s card processing services will now receive funds from any transactions completed before midnight directly into their nominated bank account the following business day.
The upgrade now allows businesses to receive funds up to 48 hours faster, helping business owners to manage cash flow more efficiently. Rather than waiting up to three days for funds to arrive in their account, next-banking-day settlement helps with daily operational costs and allows owners to reinvest money back into their business.
Charles Eveson of Kernahan Service, a Ford-Authorised Repairer in Witney, Oxfordshire, revealed how the accelerated settlement launch has helped his business: “Next banking day settlement is very important in the day-to-day operations of my company. Buying parts can be costly, on top of having to give credit to the majority of leasing companies, so we must make sure that money from our sales goes into our bank account as fast as possible. I was pleased to see that I could save over £150 per month by joining Handepay and still benefit from faster payments.”
Mark Latham, Card Services Director at PayPoint commented, “Handepay is always looking to improve its digital offering. Helping small businesses like Charles’s to stay on top of cash flow is why we provide these upgrades. Staying on top of finances has become even more difficult over the past 15 months, so Handepay is proud to be part of the solution.”