Are you tired of slow and cumbersome payment processes in the automotive industry? Gala Technology's Credit Transfer solution powered by Open Banking may be just what you need to streamline your outbound payments.
Credit Transfer is an innovative payment solution that enables automotive companies to make real-time payments to customers, suppliers, and partners directly from their merchant bank account. Available via API or an intuitive digital platform, Credit Transfer can help businesses manage their account balances with ease.
One of the most significant advantages of Credit Transfer is the ability to quickly create beneficiaries and send them funds almost instantly. Whether you need to send funds to an individual or one of your suppliers, you can create a beneficiary by entering their name and account or IBAN details, either via the Credit Transfer user interface or by obtaining them through a secure branded link.
Once the beneficiary is created, you can manage who you want to pay and send outbound payments in seconds. Simply select the beneficiary you want to pay, populate the Credit Transfer Information with the amount you wish to send, select the date you want to make the payment, and add optional information such as a reference or invoice number.
With Credit Transfer, businesses can use the Faster Payments Service to make payments of up to £250,000 in under a minute. The platform also gives you visibility of historic payment attempts and real-time status updates to aid internal reconciliation, ensuring that your beneficiary has received the funds.
Credit Transfer also offers the ability to manage multiple accounts and balances, giving you the flexibility to manage your finances more efficiently. As long as you have sufficient funds in place, you can make rapid outbound payments.
By harnessing the power of Open Banking, Credit Transfer offers enhanced security and reliability in payment processing. Open Banking is a secure way to share financial data between banks and trusted third-party providers, ensuring that your data is safe and secure.
In conclusion, if you're looking to streamline your outbound payments in the automotive industry, Credit Transfer may be just what you need. With its real-time payment capabilities, intuitive user interface, and enhanced security, Credit Transfer is a powerful tool for managing your finances and improving your bottom line.