Disadvantages of direct bank deposit

POS SOFTWARE

Direct bank deposit

In an effort to reduce banking costs, some people have asked us instead of Zippay can they offer a direct bank account system as cash is slowly declining.

Payment methods Australia

The short answer is *YES*, maybe and no.

The first point is you do not want to create what we call any type of friction if someone wants to pay with a particular payment method then I suggest you give them that option, particularly as it is an easy and cheap option plus it does offer what every business needs to provide a fee-free way to pay.

The problem is that today people want an immediate solution, that is the problem with laybys nowdays too which is on a steep decline. 

A direct bank deposit takes time, while the other methods like PayPal, Credit cards, Afterpay or ZipPay are instant.

 

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