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Payday loan companies encouraged to switch to direct debits as they are less regulated?

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  • Payday loan companies encouraged to switch to direct debits as they are less regulated?

    Slightly concerning email I saw earlier, suggesting that PDL companies may switch to direct debits as it is easier for them to abuse that system when taking payments instead of CPAs now that the FCA is toughening up on those?



    A Way Forward with Improved Repayment Rates

    The FCA has spoken. With recently confirmed CPA restrictions, debit cards are no longer a practical repayment option. What now?

    PacNet Services offers a robust Direct Debit service that is not subject to CPA restrictions. Not only is it a way forward, but it also offers a 76% lift in successful repayment transactions thanks to the priority handling afforded to bacs entries from the payer's bank.

    PacNet Services has been in business for twenty years and has been serving the changing needs of short term lenders for over a decade. We maintain robust, long-term relationships with banks around the world and offer you a hub through which you have easy access to the back-end advance and repayment services you need.

    Please contact me so that we can discuss a way forward for your company.

    Best regards,

    Brian Weekes
    PacNet Services Ltd.
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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  • #2
    Re: Payday loan companies encouraged to switch to direct debits as they are less regulated?

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    "If wishes were horses, beggars would ride"

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