CFT Group

Payment Institution (Direct Debit, Request-to-Pay)

When UK FasterPayments launched in 2008, eventually replacing most uses of the BACS credit facility, we were looking forward to a time when the 50 years-old Direct Debits would undergo a similar revolutionary transformation. By 2015, when such change still hadn’t materialised or even planned, we grew restless. We were convinced there must be a better way to collect recurring payments. Better for both, merchants and consumers alike. In 2017, CFT Group took Direct Debits back to the drawing board. Ported to the age of millennials in an always-on world of demanding consumers we took on the needs of fast-paced billing clients. Through DUESDAY, a unique consumer facing brand and incentive scheme, our clients receive payments from their consumers earlier, quicker and at lower cost than traditional Direct Debit. Raising working capital directly from their consumers our clients can iterate faster and win their loyalty at the same time. Our flexible approach allows clients to integrate as much or little into our API platform according to their own needs. As a payment institution regulated by the FCA we developed an infrastructure with bank-grade security, fully compliant with PSD2, GDPR and ready for the New Payments Architecture (NPA).