Axactor: Transforming Debt Collection with Open Banking Payments
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For Axactor, effective debt collection is all about people, building trust and finding good solutions that take care of both parties. Some of the most common problems they see in the industry are that consumers do not receive invoices on their preferred channel and that issuers do not make good or user-friendly payment methods available.
As a technology-driven credit management platform, Axactor was looking for an innovative and cost-effective way to simplify how consumers could pay and manage their debt. Using Nello Pay, Axactor became the first in the debt collection industry to offer their customers secure and cost-efficient account-to-account (A2A) payments using open banking technology. The solution is now integrated into their online platform and mobile app and can be embedded directly in their customers' invoices.
Using Nello Pay, consumers have the flexibility to either schedule a payment or to pay on a different date if that is more convenient. Focusing on customer needs and experience is a key factor in payment’s success. To achieve this, Axactor worked closely with Neonomics’ Design team to implement a streamlined user interface that out-performs all its other payment options in both cost and conversion.
By delivering an easy payment method that is also efficient for end-users, it’s no wonder that Axactor has become one of the top 10 credit management providers in Europe.
How it works
The customer receives a notification that they have an invoice and a link to open the invoice. With just a few clicks, they can review the invoice, select the date to pay it, and authorize the payment online or directly from their phone.
An effective payment solution users appreciate
Frictionless payments
Streamlined payment flow reduces errors and makes paying fast and easy, with flexible options for immediate or scheduled invoices.
Faster resolution
Real-time payment statuses and near-instant settlement ensure invoices are resolved quickly, improving customer experience and reducing delays.
Efficiency that scales
Simplified workflows cut down on manual errors and late payments while providing clear visibility into transactions for better cash flow management.
Lower risk, higher control
Secure authentication and real-time tracking reduce fraud, while direct bank integration keeps data intact and payments transparent.
Hear from the client
"Account-to-account payment is the future, with a lot of benefits, for both for us and our end-user. For Axactor, we get the data we need to be efficient, and reduced transaction times at a lower cost. For the debtor, the solution is intuitive, user-friendly and easy to use."
Arnt André Dullum
COO of Axactor
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