When UK FasterPayments launched in 2008, eventually replacing 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, the co-founders of CFT Group grew restless. They 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 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).
With locations in London, Madrid and Cornwall CFT group has grown quickly. Backed through significant capital by private investors and the European Regional Development Fund, CFT Group has assembled a team of highly qualified individuals specializing on the innovation of payment collection.
Supported by EU funding CFT Group has been engaged in a research and development project about Debit Escrows and Smart Contracts. We’ve investigated old and new payment mechanisms how consumers pay their bills and invented a new payment channel empowering consumers with unrivalled transparency and control leading to higher collection rates and lower fees for our clients.
Trust and compliance are important components of every successful business. Our clients value the expertise and sector knowledge of CFT Group’s staff. We are regulated by the Financial Conduct Authority under the Payment Services Regulations 2009 for the provision of payment services. Our fast and compliant payment collections allow you to focus on what you do best: your business.
WORK AND PLAY
We love what we do. We work hard for our clients. And we enjoy achieving miracles under pressure and the joy of accomplishment that comes with it. Having fun together is equally important to us and Cornwall is the perfect place to get out and go wild.
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