- 4 August 2003 11:15
New DDRSecure Service from CommSecure Makes Direct Debit Requests Easier and Cheaper to Manage
SYDNEY, AUSTRALIA – August 4, 2003 – Electronic commerce specialist CommSecure Limited (ASX:CMS) has launched a new service that dramatically reduces the cost and administrative burden of managing direct debit request forms. CommSecure's customers have welcomed the service as a way to encourage further take up of direct debit.
Direct debit offers the most cost-effective payment method for businesses that bill customers regularly. However the efficiency of direct debit is often reduced by the administrative requirement to collect, store and manage customer direct debit request (DDR) forms in hard copy.
CommSecure’s new DDRSecure service is a comprehensive solution that allows businesses to outsource the management, storage and retrieval of DDR forms via an ASP-style bureau service.
Through DDRSecure, CommSecure stores customer debit requests electronically using a highly secure encrypted database. This protects customer confidentiality while facilitating instant access by authorised users when required.
“We noticed that many large organisations were struggling to cope with the hassle of handling sensitive direct debit forms and realised that CommSecure had the expertise and technology platform to provide a solution,” said Ray Loyzaga, Managing Director, CommSecure.
An early major customer is Toyota Financial Services, which is using to DDRSecure to handle direct debit record management. The group has approximately 650,000 car finance customers completing around 2 million payments per year.
DDRSecure can be used as a stand-alone system or integrated with CommSecure’s BillSecure (Electronic Bill Presentment and Payment) and PaySecure (Payment Gateway) e-commerce solutions. Baulkham Hills Shire Council in Sydney’s north-west, for example, has implemented DDRSecure in association with BillSecure.
A key benefit of DDRSecure is its ability to facilitate both direct debit transactions and Customer Initiated Direct Debit (CIDD) transactions, an e-commerce innovation that provides an alternative to the conventional direct debit.
CIDD helps overcome reservations about direct debit by returning control to the customer. The biller keeps a standing DDR authority on file and simply informs the customer when payment is due. The customer can then verify the amount and authorise payment by entering their PIN number – without needing to re-enter their account details.
To reduce the business costs and overheads associated with direct debit, DDRSecure provides a turnkey solution that handles all aspects of records management for direct debit requests.
Businesses simply send incoming direct debit requests to CommSecure, which scans the original documents into an electronic format that is stored with basic customer identification information. DDRSecure can also automate collection of customer data via the billing organisation’s website.
At CommSecure, DDR documents are stored in a secure database that uses military-grade encryption to safeguard customer privacy. When DDRSecure clients require access to original records to resolve disputes or amend details, files are retrieved from the database and sent via secure email to the client organisation.
Outsourcing direct debit management to CommSecure helps billing organisations streamline their operations and take advantage of lower transaction costs. DDRSecure helps clients reduce paper-based records and rein in receipting costs, with direct debit transactions costing about 10 cents per transaction, compared to 85 to 95 cents for BPAY several dollars for credit cards.
DDRSecure is the latest in CommSecure’s line of pioneering payment solutions for friction-free electronic commerce. It builds on the company’s strategy of providing high-value, outsourced e-commerce solutions that reduce up-front IT investment costs for clients and deliver transaction-based annuity revenues to the company.
CommSecure Limited (ASX:CMS) is a technology and services company providing comprehensive e-business solutions to corporate, government and other clients in Australia, Asia and the US. Established in 1998, it is among Australia’s leading e-commerce specialists with solutions that include: PaySecure (Australia’s most complete e-payments gateway service); BillSecure (electronic bill payment and presentment); MarketSecure (online share trading and financial markets systems); and HostSecure (specialist Internet hosting). It also captures and manages Direct Debit Request forms via its DDRSecure service and provides sophisticated Web Development and Technical Consulting services. See www.commsecure.com
For further information:
Ray Loyzaga Managing Director CommSecure Limited (02) 9497 4400 email@example.com
Lachie Hill Public Relations Lachie Hill Communications (02) 9953 5629 firstname.lastname@example.org