Ebusiness solutions provider UltraViolet has launched an online system that aims to slash the cost of collecting direct debit insurance payments.
The facility is available to third-party insurers and intermediaries who need to process credit card and other types of payments.
The cost to the customer starts at 10p per transaction, but this may be reduced for large volume deals.
UltraViolet spokesman Steve Pritchard said: “Most insurance customers are comfortable with direct debit collections because of the Direct Debit guarantee scheme.”
He added: “We are placing this comfort factor into an ebusiness environment to put all parties into a win-win situation in terms of cost and convenience.”