Kiwi e-commerce company Debitsuccess is showing no signs of slowing up on its growth strategy, announcing this week it has bought UK-based direct debit billing provider Harlands Group.
The buy up will see Debitsuccess handle about $2 billion worth of collections a year across two million customers via its stable of international companies, said Debitsuccess chief executive Craig Marshall.
"This move further builds our capacity and capability in international markets, particularly in a region that is seeing substantial growth in recurring payments and related solutions," Marshall said.
Late last year, the Auckland-based Debitsuccess acquired another direct debit provider DFC - which provides billing services to more than 250,000 customers in the leisure sector in the UK.
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The latest acquisition, West Sussex-based Harlands Group, develops and implements "a range of outsourcing solutions for many leading UK and European gym chains, with expertise in direct debit and collections management."
Joint managing director of Harlands, Mark Collison says the deal will open new doors for both parties
"We are looking forward to working with (Debitsuccess) - and we are excited about the strategic, operations and sales opportunities this new partnership will offer," Collison said.
Debitsuccess is moving firmly to support a 'subscription economy' - a business model increasingly being used by organisations to secure reliable cashflow.
It's where customers pay for goods and services through regular instalments, rather than a large lump sum, says Marshall.
"The subscription economy is revolutionising the way organisations collect recurring payments and we are proud to be leading the charge. Driven by customer demand for convenience and flexibility, recurring payment models are being embraced by businesses," said Marshall.