Lidya Collect

Create customer repayment plans that cover multiple banks digitally. Automate and enhance your funds recovery with standing instructions and get paid directly into your Lidya Wallet

Benefits

Automate Collections

Don’t waste time on collections processes by implementing Lidya’s automated direct debit mandate for collections.

Get Paid. Faster

To grow your revenue, the first step is to make sure you get paid. The second step is to make sure you get paid on the date you are expecting with no delays.

Simplify Payments

Provide a better payment experience for customers with simple and frictionless process.

Multiple Account Collections

With Lidya Collect you are able to collect with direct debit mandate, notionaly from one account, but from all the accounts of your customers who owe you payments.

Powerful Cashflow Management

Make sure your business is always healthy by having the cashflow you need, collecting from your customers automatically. View and manage receivables at one place.

Team Management

With Lidya Collect, you will free up your human resources, reducing the dependence and workload from your accounting department.

42%

Of Lidya Customers Say Collections Are Somewhat Or Very Painful Or Challenging.

2.5h

Per day saved in collections.

5000N

36% of SMEs say it will improve business efficiency

3X

Faster to collect.

Based on 2022 Lidya Survey.

01º

Place A Direct Debit Mandate On The Account Of A Customer And Automate Collections.

02º

Create repayment plans that cover multi bank accounts from clients.

03º

Identify payer by BVN

04º

Define Amount to Pay

05º

Define Amount of deduction

06º

Manage your authorizations

Testimonials

Lydia is doing great job in helping businesses and I’m one of those that has been benefiting from the great services Lydia is rendering

Stoprite Stores

So far so good. Everything is online now. Is okay.

CHIMA UKO

Very good,and it's the best platform ever

Michael Obiene

Lydia remains the best in terms of customer services

Echeme Peter

FAQs

What is Lidya Collect?

Lidya Collect allows business owners to digitally automate and enhance their customer repayments and debtor funds recovery with standing instructions. It accelerates growth by freeing up their resources, improving their cash flow, and increasing revenue and business margins, as the customer repayment plans cover multiple banks and are paid directly into their Lidya Wallet

Why do I need Lidya Collect?

Every day businesses undertake the hassle of repetitious, mundane, manual payment collections that eat up employee time. Make the single biggest process improvement to accelerate your business by automating the collections of your accounts receivable (A/R) and enhancing funds recovery. Lidya Collect allows you to free up your resources as you create and manage automated collections, and improve your cash flow, revenue and business margins seamlessly.

What are the benefits of Lidya Collect?

With Lidya Collect you can accelerate your business growth by automating the collections of your accounts receivable (A/R) and enhancing your debtor funds recovery. Lidya Collect allows you to:

Improve your cash flow position
Increase your revenue
Increase your business margins
Free up your resources

How does Lidya Collect work?

Lidya GSI helps to automate all your customer collections and debtor fund recovery. It sets up a standing instruction with a payment mandate which the payer must accept to enable you to connect to their bank account to seamlessly collect your payments. Lidya Collect allows you to monitor all active, deactivated or expired mandates and payments.

How can I set up Lidya Collect?

To automate all your customer collections and fund recovery with Lidya Collect, simply create and monitor your automated collections by:

Going to the GSI tab, select create to set up the payment mandate plan details with a clear description, amount, currency, collection frequency and start date
Add all the payer details and connect the payer by BVN
Select Validate to ensure the details are accurate then submit to send to the payer
The payer will receive the mandate via email and can authorize or reject the mandate
Once signed it is authorized and moved to the active position where you can monitor your collection status
You can monitor what is paid, view expired mandates and also deactivate mandates

Can we provide APIs to plug into your systems to generate mandates on loan originations? What is the roadmap, if any, for the API integration option?

As discussed for the demo period, we suggest using the existing tool. The API integration will be a custom solution that can be invested in once you have enjoyed the benefits of our service. Client API will be fully operational end of September

Does this solution cover ALL banks in Nigeria?

We are limited to banks that NIBSS provides. However, NIBBS covers all the Nigerian commercial banks, and we can share a complete list.

Is it possible to determine the primary account on behalf of the customer?

Not at the moment. By design, the accounts are added to the GSI in the order they are found from the linked BVN.

GSI will start using the first account. If it fails after the four attempts, it will switch to the second account.

Only when the second account fails, it will switch to the third account, and so on until it reaches the last account.

If the last account fails, it will start again from account 1

How many times will it try from the primary account

We collect 4 times a day, always starting with the primary

Regarding the mandate, is it possible to have an SMS/OTP mandate rather than email?

Not at present; as discussed for the demo period, we suggest using the existing platform, and the necessary tools can be discussed at a later date

Can we provide APIs to plug into your systems to generate mandates on loan originations? What is the roadmap, if any, for the API integration option?

As discussed for the demo period, we suggest using the existing tool. The API integration will be a custom solution that can be invested in once you have enjoyed the benefits of our service. Client API will be fully operational end of September

Does this solution cover ALL banks in Nigeria?

We are limited to banks that NIBSS provides. However, NIBBS covers all the Nigerian commercial banks, and we can share a complete list.

Is it possible to determine the primary account on behalf of the customer?

Not at the moment. By design, the accounts are added to the GSI in the order they are found from the linked BVN.

GSI will start using the first account. If it fails after the four attempts, it will switch to the second account. Only when the second account fails, it will switch to the third account, and so on until it reaches the last account.

If the last account fails, it will start again from account 1

How many times will it try from the primary account

We collect 4 times a day, always starting with the primary

Regarding the mandate, is it possible to have an SMS/OTP mandate rather than email?

Not at present; as discussed for the demo period, we suggest using the existing platform, and the necessary tools can be discussed at a later date

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