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

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Benefits

Automate Collections

Automate Collections

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

Get Paid. Faster

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

Simplify Payments

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

Multiple Account Collections

Multiple Account Collections

With Lidya Collect you are able to collect with direct debit mandate, not only from one account, but from all the accounts of your customers who owe you payments.

Powerful Cashflow Management

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

Team Management

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

87%

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

75h

Saved a month

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.

01º
02º

02º

Create repayment plans that cover multi bank accounts from clients.

03º

Identify payer by BVN

03º
04º

04º

Define amount to Collect

05º

Define Collection Frequency

05º
06º

06º

Manage your authorizations

Lidya Collect API

Use Lidya Collect API to integrante and create custom repayment plans for your customers. Lidya Collect is 10x better than the alternatives.

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

Stoprite Stores CHIMA UKO Michael Obiene Echeme Peter
Stoprite Stores CHIMA UKO Michael Obiene Echeme Peter

FAQs

What is Lidya Collect?

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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

What is Lidya Collect?

Why do I need Lidya Collect?

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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.

Why do I need Lidya Collect?

What are the benefits of Lidya Collect?

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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

What are the benefits of Lidya Collect?

How does Lidya Collect work?

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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.

How does Lidya Collect work?

How can I set up Lidya Collect?

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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

How can I set up Lidya Collect?

What Documents I will Need to Submit?

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

What Documents I will Need to Submit?

Can we provide an API to plug into your systems to generate mandates on loan originations?

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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.

Can we provide an API to plug into your systems to generate mandates on loan originations?

Does this solution cover ALL banks in Nigeria?

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

Does this solution cover ALL banks in Nigeria?

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

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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

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

How many times will it try from the primary account

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

How many times will it try from the primary account

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

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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

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

Lidya
Forecast

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