How do payments on tickr currently work?
How we take payments
Recently we shared a blog on our product roadmap and the updates we’re currently working on. Included in this was information on how we take payments today, and how we’ll be taking them in the future.
Given we’ve had a lot of feedback on payments, we thought it would be good to put this into a separate post so that everyone can fully understand the process.
How do we take payments today?
Today in the app when you sign up, you have three options for payments:
1. Set up a monthly payment (via direct debit)
2. Do a one off payment
Most of you will be used to the process and experience of setting up a monthly payment via direct debit (option 1) and the way we process that is much like any other. However, in order to do a one off payment (option 2), the way it works today is that a direct debit instruction is set up; but in this case there is only one payment taken from that direct debit (i.e it’s not monthly, it’s just one off). Then if you want to do more one off payments after that, you can, but again we take them via a one off direct debit payment.
Timescales for initial payments
The initial setup of the direct debit can take up to 5 working days, even for the one off payments. Then we collect the payment from your nominated bank account which can take a few days to reflect in the app. A lot of the feedback we’ve had is around communication of this process. In the short term we’re working on explaining this more clearly in the app to make sure our users are more aware of what’s happening with their money in the background.
How we’ll take payments in the future
Fundamentally we want to speed this whole process up, and also have an option for people to be able to deposit money and top up their accounts instantly. So, we are working on integrating an instant payments feature into the app. This addition, along with better communication will make the payments process quicker, more transparent and will result in a better experience for you.
Thank you for your support and feedback so far. All the suggestions are listened to, so please keep them coming and we can build something great together.