How people pay their bills has changed as technology has developed down the years. Gone are the days when you would pay for something by cheque, postal order or over the counter in hard cash. Liskeard-based ‘FinTech’ firm Duesday are looking to revolutionise the Direct Debit transaction method.
Millions of people pay for their goods and services using the Direct Debit format that has recently celebrated five decades since its conception. The software development start-up aims to refresh this reliable payment method and modernise it for the 21st Century using app-generated digital technology.
Duesday totally takes care of payments. Their new approach has seen the re-invention of Direct Debits and gives more transparency and control to anyone paying their regular bills. The technology aims to help merchants with better cashflow and higher collection rates. Overall, they create stronger and more loyal relationships between consumers and their service providers.
The service is completely free to use and is directly available on people’s mobile phones [iPhone or Android] as bill payers have their personal banking system in the palm of their hand. This payment method has really caught on with customers not only signing up in the UK but also in Mexico and parts of the USA.
Duesday was co-founded by Esteban Díaz Asúa and Marcus Kern.
“As a new tech start-up to Cornwall we worked with Oxford Innovation to help us with our research funding. They brought several experts to the table to help us through the endless paper trail required and gave us excellent and candid advice where to place our focus,” said co-founder and CEO, Marcus Kern.
He added: “I have no doubt that their advice [through the Access to Finance scheme] was key to our success in getting European Union (EU) funding and also in the flawless completion of our project.”
Marcus tells of how Duesday is proudly rooted in Liskeard, amongst the lush hills of East Cornwall. He adds: “As a software development firm focusing on fintech, with the right talent we can be successful anywhere.
“We are ideally located with both Falmouth and Plymouth Universities within reach and our staff have an easy commute by rail or road. Placed right in the town centre, we have a dedicated fibre Internet connection and a spacious three-storey office. I encourage any software start-up to do the same. Cornwall is perfect, not just for surfing.”
Marcus sums up his time working with Oxford Innovation in three simple words -professional, experienced and supportive.
Andrew Finley, Stakeholder and Relationship Director at Oxford Innovation, said: “It has been incredibly stimulating to work with a team of highly creative entrepreneurs who have a deep level of understanding to the level of investment opportunities available to business start-ups who are willing to explore accessible avenues.
“We initially helped to guide and signpost Marcus and his associates through the procedures connected with EU funding. This financial support can be essential to businesses looking to ply their trade not only in Europe but also on a worldwide scale.”
Andrew concludes: “For Duesday to assemble an array of high-quality FinTech jobs in the county and to choose Cornwall for the base of a global business is testimony to the strength of the tech community developing in the region. Hopefully this will be a business beacon for other start-ups and SMEs looking to embark on a similar journey.”