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High profile backing for new recurring payments platform

High profile backing for new recurring payments platform
March 14, 2019

Payleadr, a new recurring payments management platform founded by former Tyro Payments and Debitsuccess executive Karl Margrain, has attracted the backing of Peter Haig, the co-founder of fintech success story Tyro Payments and Bob Gilman, the former Senior Vice President of American Express Cards for Australasia and former Chairman and Chief Executive of Pinpoint China.

Holding an Australian Financial Services (AFS) licence, Payleadr provides a multi-sided payments management platform which streamlines the accounts receivable process for businesses that collect regular payments from their customers. The platform allows businesses to electronically establish binding recurring direct debit and credit card payment arrangements with their customers. The platform facilitates the payment processing and daily settlement to the business while also automating customer follow up and payment re-attempts in the case of any failed payments.

Payleadr also provides a portal to consumers which enables them to self-serve for changes to their accounts.

Explaining his belief that the company’s focus on users on both sides of the Payleadr platform is critical to its ongoing success, Payleadr’s Managing Director Karl Margrain states “we often hear of payment related complaints in industries with a heavy recurring payments component, gyms and childcare centres as examples.

“Customers can find it difficult to access information about their account, or to make changes to their membership or account. There can be call centres to navigate and unnecessarily complex terms and conditions to understand. We believe that providing an awesome experience to a business, and to their customers, need not be mutually exclusive. Our portal allows consumers to access their account information, and make changes, whenever they want from wherever they are.”

It is this focus on the user experience, coupled with Margrain’s extensive payments expertise and experience, that attracted both Haig and Gilman to Payleadr.

Haig stated “it quickly became clear when talking with Karl that managed recurring payments in Australia is ripe for disruption.

“By leveraging the latest technology, Payleadr can attract, on-board and serve businesses at a lower cost than the small number of providers already operating in this space and by reflecting those lower costs in the platform pricing, Payleadr can provide significant savings to its clients.”

Payleadr serves a diverse range of clients, including gyms, music schools, web designers, financial advisors and law firms.

Click here to contact Payleadr via their entry in the Australasian Leisure Management Supplier Directory.

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