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Covid-19 (Coronavirus) Update

Coronavirus is having a huge impact on all sectors of business. Despite this, businesses are still having to manage their books, file VAT returns, run payrolls and most importantly their credit control processes. TFMC is continuing to provide our full range of services through this difficult time. For the latest information and support visit our Blog section or use our app with regular updates sent direct to your phone.

Covid-19: Merchant Services Don't Cancel - Communicate


Covid-19: Merchant Services Don't Cancel - Communicate

As the Coronavirus lockdown seems likely to continue for the foreseeable future many businesses particularly those in the retail and hospitality sectors will be looking to cut costs and save money. Acceptcards, our merchant services partner, have been talking with businesses and asking them to consider the implications of acting too hastily and cancelling direct debit payments or even contracts with their merchant services provider.

We have put together a short one page information sheet that echoes the advice Acceptcards have been dispensing, recommending that businesses avoid cancelling direct debits and instead reach out to payment providers and ask for a suspension of fees if they’re currently not processing payments. The issues that could arise by not doing this could negatively impact on operations in the future.

You can download the information sheet by clicking here.