Australian pet insurance industry trailblazer, Fetch, delivers real-time payouts to vets as a customer experience differentiator in a booming sector. Partnering with Zepto on the payouts was a critical component of Fetch’s ability to deliver on this proposition.
Legacy payment methods like BPAY and direct debit are showing their age, and cards can be expensive and introduce risk. These outdated payment methods can impose operational burdens on businesses, and negatively impact member experience.
Create customised payment flows on a secure, scalable platform built to harness the real-time payments revolution. Reduce complexity, streamline your back office, reduce call centre interactions, and engage with your members in new ways.
For ancillary health services, payment delays imposed by legacy bank payment processing windows and speeds are now an unnecessary inconvenience. Current bank processing typically takes 2-5 days. A real-time payouts solution on the New Payments Platform can revolutionise the time from member claim to payment. They can move and settle in real-time 24-7 even on weekends and public holidays, too. Talk about 'giving back to your members'.
When you're processing tens of thousands of payments every week or month, the direct and indirect costs of doing so can really add up. Fees applied to card payments are a direct impost on your business. The data embedded in Zepto-powered payments can deliver efficiencies that take pressure off your back office operations and reduce the indirect costs associated with the payments flowing through your business.
Direct debit dishonours are growing as consumers are impacted by the cost of living crisis. Failed payment collections add cost and complexity to your business, and stress and negative sentiment to your members.
Real time payments can uplift certainty of payment, and rich data provides ability to refine processes based on specific reasons codes rather than a one-size-fits-all collections strategy. #ABetterWayToPay
Australia's legacy workhorse payments infrastructure, BECS, is slated for retirement in 2030.
That 'BECSIT' means that billions of account-to-account payments made annually will migrate from BECS to the modern, real-time realities of Australia's world-class New Payments Platform [NPP].
It won't be easy, but it will be worth it as it unlocks the seamless payments experiences of the future. The first movers are already moving. As a trusted guide and the first non-bank approved to connect directly to the NPP, Zepto has a clear line of sight through BECSIT today. We're ready for you.
“We're insurance experts, not payment experts. We wanted someone trustworthy to do it. Trust is everything in financial services. As an insurance provider, Fetch is solely trading on trust. Our partners need to be trusted as well. So, key to our decision-making when building out our infrastructure were questions like Who are we partnering with? Can our customers rely on them? Zepto fitted the bill. It's been fantastic.”Phil Wilson-Brown Co-founder, Fetch
"The advantage we had from the get-go is that we didn't start out as bankers trying to solve a merchant problem. We started with an intimate understanding of what merchants need because we started off as merchants ourselves. Payments had frustrated us immensely–perhaps more than anything else in business."Matt Cheers Co-founder, Zepto
“We're insurance experts, not payment experts. We wanted someone trustworthy to do it. Trust is everything in financial services. As an insurance provider, Fetch is solely trading on trust. Our partners need to be trusted as well. So, key to our decision-making when building out our infrastructure were questions like Who are we partnering with? Can our customers rely on them? Zepto fitted the bill. It's been fantastic.”Phil Wilson-Brown Co-founder, Fetch
"The advantage we had from the get-go is that we didn't start out as bankers trying to solve a merchant problem. We started with an intimate understanding of what merchants need because we started off as merchants ourselves. Payments had frustrated us immensely–perhaps more than anything else in business."Matt Cheers Co-founder, Zepto
PayTo® is a modern way for health funds to collect payments from their members’ bank accounts and have them settle in real time, all the time—like an always-on, instant direct debit. PayTo delivers the set-and-forget benefits of direct debits and cards with a decreased risk of missed payments and fraud.
Learn more about PayTo HERE.
Zepto’s flagship instant-funds transfer solution supercharges millions of transactions each day with the unique, industry-first capability to activate thousands of PayIDs instantaneously. Create a unique PayID® for every member to facilitate instant, easy payments and accurate, automated reconciliation.
Learn more about Enterprise PayID HERE.
Payouts on NPP can deliver your members a seamless, real-time digital payments experience. With Zepto's API, you can disburse funds in real time on the NPP. When complex insurance payment flows and urgent claims are in play, every zeptosecond counts.
Learn more about NPP Payouts HERE.
Store funds indefinitely. Move them flexibly. Transforming your business operations and the customer experience of your members is about more than just speed of payment. Fast is great — sure — but precision, security and flexibility is where the rubber really hits the road.
Learn more about Stored Value HERE.
Say goodbye to paper forms and manual handling. By hitting every exchange point with Zepto's API-powered, data-rich enterprise direct debit solution, you can reduce dishonours, and maximise one-off and recurring payment success.
Learn more about better direct debit HERE.