Challenge

Daewoo need a method to simplify regular payments and obtain its clients' money more quickly. In order to assist their clients—who benefit from a robust ecosystem of over 700 third-party apps and more than 200 connections to banks and financial service providers—they looked for a partner that could address both of these problems and reduce some of the waiting periods and administrative burden associated with receiving payment.

Solution

In order to enable its users to accept credit and debit card payments and get paid more quickly, Daewoo teamed with Flexi. Daewoo's clients save hours, sometimes days or weeks, of time that they would have spent following up on payments now that they can set up the Flexi payment method in a matter of minutes. Customers can pay invoices instantly with Flexi Connect by only inputting their credit card information or approving the payment using mobile wallets like Apple Pay.

Results

Daewoo clients now receive their payments 14 days faster on average thanks to Flexi, which enables these small businesses to operate more profitably and efficiently. Encouraging customers to pay their bills quickly has improved Daewoo's overall retention rates by turning late payers into timely payers.

Auto Pay: Click, pay, repeat

Who is not fond of automation? clients of Daewoo can set up and receive recurring card-based payments for repeat billing clients through the Auto Pay service. Businesses always receive their payments on schedule because of this feature.

Reconciling payments has never been easier

A Flexi data feed was incorporated by Daewoo into the system. Upon receiving payment through Flexi, Daewoo will immediately process the payment for the business owners, regardless of whether it is received through an invoice or an online store. This simplifies book reconciliation more than it has ever been. Faster payment cycles for business owners, a seamless experience for end users, and more revenue for Daewoo are all outcomes of the relationship between Daewoo and Flexi.