New Zealand-based Debitsuccess has bought up direct debit billing provider DFC in the UK, capping off a year of growth.
Debitsuccess started operating in New Zealand in 1994 and and has also developed a club management system called Clubware for clients in the fitness industry, which is in use at more than 700 sites throughout Australasia.
Debitsuccess chief executive Craig Marshall said the acquisition gives the company a foothold into a region where it's seeing an increasing demand for its billing services.
DFC operates in a similar market space to Debitsuccess, providing billing services to more than 250,000 customers in the leisure sector in the UK, as well as utilities, publishers and telecommunications providers.
“DFC is a strong, growing, profitable business, and it is an extremely good fit both culturally and operationally,” says Marshall.
Marshall says Debitsuccess is also in final discussions with several companies in Asia and the US.
“We believe that our unique service model for the management of recurring payments adds value to any business or industry entering the ‘subscription economy’ and successfully translates into many countries or territories."
2013 saw Debitsuccess register its highest ever number of new accounts in a calendar year, he says, including a record single month for revenue in October.
The company says it initiates nearly 20 million transactions every year on behalf of more than 3,000 businesses, making it one of the largest full service direct debit initiators in Australasia.
Debitsuccess made the top 40 in the TIN100 for the first time this year.
Idealog has been covering the most interesting people, businesses and issues from the fields of innovation, design, technology and urban development for over 12 years. And we're asking for your support so we can keep telling those stories, inspire more entrepreneurs to start their own businesses and keep pushing New Zealand forward. Give over $5 a month and you will not only be supporting New Zealand innovation, but you’ll also receive a print subscription and a copy of the new book by David Downs and Dr. Michelle Dickinson, No. 8 Recharged (while stocks last).
Idealog is part of ICG. We work with clients like Woolworths New Zealand, All Good, Huffer, Liquorland, Resene, Citta Design, TVNZ, Spark and FCB on their event activations, in-store, in-office or out-of-home signage, content creation and vehicle wraps.