UK-based Topps Tiles has partnered with bank payments company GoCardless to support the TradePay trade credit scheme. This initiative aims to provide traders with the option to pay on credit within Topps Tiles stores.

Through GoCardless, traders can now opt to pay their monthly instalments via Direct Debit, ensuring automatic collection of funds on their due dates. This system offers a seamless method for traders to manage repayments, thereby freeing up lines of credit to support their business growth. The launch of Trade Pay signifies a strategic move for Topps Tiles, marking an acceleration into the trade market segment.

Recognising the importance of lines of credit to their customers, Topps Tiles had previously operated its trade credit scheme through a third-party finance provider. However, this arrangement incurred transaction fees, prompting the retailer to explore alternatives to improve customer service and enhance profit margins. What made the two companies click? According to the official press release, efforts to internalise credit management processes proved labour-intensive for Topps Tiles, leading to extensive manual administration, including efforts to address late payments.

GoCardless emerged as a favourable payment partner during the retailer's search for technology to streamline payment processes. By leveraging GoCardless's digital Direct Debit mandate creation and payment system, Topps Tiles aims to expedite payment receipt, reduce manual workload, and enhance operational efficiency at its support office. Customers are expected to benefit from an improved experience, with the convenience of instant Direct Debit setup.

Officials from Topps Group expressed satisfaction with the collaboration, highlighting GoCardless's role in enhancing the Trade Pay credit scheme's accessibility and management for customers. In turn, representatives from GoCardless emphasised the company's commitment to supporting Topps Tiles in bringing credit management in-house while ensuring operational efficiency and customer satisfaction. For more information about GoCardless, please check out their detailed profile in our dedicated, industry-specific Company Database.

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