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

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.

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

Lidya Collect 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.

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

Going to the Collect 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

To complete the onboarding you will need to submit:
1) Certificate of incorporation
2) CAC 2
3) CAC 7
4) BVN number

For the demo period, we suggest using the existing tool. The API integration is a custom solution that can be invested in once you have enjoyed the benefits of our service.

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

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

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

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