Customer story: Salad
Salad – the innovative short-term lender – has teamed with Payit™ to transform how their loans are repaid and smooth the consumer experience.
Empowering customers and accelerating payments
Salad have led the way on using Open Banking to help working people get access to short term loans, despite impaired credit scores.
Payit has enabled Salad to put control in the customer’s hands. Fast, flexible payments to Salad mean customers can self-serve their accounts. This helps them keep on top of their payments in a way that suits them, while reducing the burden of account management on Salad.
Payit supports the business
Smooth payment process
Salad’s customers can repay their loans quickly via a one-off payment link or a variable recurring payment (VRP). All managed via their banking app thanks to Open Banking.
The flexibility of VRPs
VRPs replace the rigidity of direct debits and high cost of card-on-file transactions. Payments can be adjusted in real-time by Salad and settled almost instantly* by the customer.
Brand confidence
With a well-known high street name like NatWest attached to Salad’s payment processes, their customers see a recognisable brand, that could increase confidence and trust.
*In the majority of cases, payment will be near-instantaneous thanks to the Faster Payments Service. However, banks may retain certain payments for additional checks. If approved, payments are guaranteed to arrive within 2 hours.
Payit supports customers
Control their own finances
Weaving the data access and speed that Open Banking delivers into Salad’s systems, giving their customers the control and flexibility to manage their account and payments themselves.
Effortless experience
Reducing the need for cheque or card payments, and removing the reliance on rigid direct debit mandates ensures the customer experience is simple and smooth.
Speedy payments
Payit simplifies and speeds the pay-back process with cash moving directly and instantly from bank account to bank account*.
Outcome
Through the use of Payit by NatWest, Salad has transformed the incoming payment process and their customers’ experience. Fast, simple, direct payments helps drive business efficiencies and savings for Salad. An Open Banking-empowered payment portal puts the control of the repayments in the hands of the customers.
[Payit has] allowed us to create a streamlined, smooth process that we can be proud of.
Devan FitzgeraldSaladHead of Customer Account Management
We won't look back
Tim RooneySaladCEO
Eligibility
You will need to sign up to Payit terms and conditions and you may need to hold an account with us. Your business must be based and trading in the UK with a turnover above £2m. You must be 18 years or older. Fees apply.