Accelerate your customer’s payments

When F1 switched from manual to electronic paddle gears, drivers saved a fraction of a second on every change. Hardly a revolution, until you consider most drivers at Monaco shift over 3,000 times per race.

When you are driving a business, gaining a competitive edge is all about accelerating your income and putting the brake on costs.  Macquarie Premium Payments is a fully integrated payment solution that provides your clients with more convenient payment options so you’ll receive funds faster.  It replaces manual processing with fast, secure, electronic handling of premiums. 

And considering many insurance brokers handle more than 3,000 transactions each year, the potential savings of both time and money are significant.

Increase income, reduce costs

Macquarie Premium Payments efficiently manages the automated collection, receipting and reconciliation of premiums, freeing your staff to drive business rather than spending hours accounting for it. It allows you to offer your clients a range of more convenient payment options.

And, if you make it easier for your clients to pay their premiums, you will:

Key benefits

Features How you can benefit
Collects, receipts and reconciles premium payments from clients. Improves your debtor management & credit control.
Offers a broader range of payment options. Collect premium payments faster, earning you more interest.
Improved payment slip design. Reinforces your business’s professional image & improved client service.
Processes payments electronically - from payment through to reconciliation. Increased transparency, fewer errors and protection against fraud with inbuilt verification.
Gives you online access to transaction and payment information and collates it into one daily file for you to upload into your software solution. Gives you a clear, up-to-date picture of your consolidated cash flows. Streamlines business processes.
Can add and automatically calculate and process a surcharge to credit card payments made by your customers. Credit card convenience for your clients without you being out-of-pocket for merchant fees.
Dedicated team to assist with the transition process. Comprehensive training, dedicated contact staff and ongoing support ensuring minimum disruptions.
Integrates with your existing broking system. Minimum disruption to your day-to-day business.

How it works

      Here's how it works
INCOMING PAYMENTS
 
 1
Internet
*Credit
card
Phone
*Credit
card
BPAY*
Cheques
via Locked
Mail Bag
Australia
Post
Macquarie Premium Funding
     
Your clients choose how to pay via a range of payment options.
  
    2
Macquarie Bank processes and deposits all payments into your Macquarie Bank account.
    
    3
You download consolidated daily files from Macquarie Bank into your broking system.
 
All Transactions are then automatically receipted into your broking system.
OUTGOING PAYMENTS
 
 1
Payment files created in your broking system can be uploaded to your Macquarie Bank account to pay your creditors.
    
    2
Once you authorise the payment file/s, Macquarie Bank validates them and processes the payments.
 
Creditors receive their payments overnight and they are automatically receipted into your broking system.
      *DEFT gives you the option to charge credit card fees to cardholders
© Registered to BPAY Pty Ltd ABN 69 079 137 518

System interface

Macquarie Premium Payments was initially developed with Ebix Australia and is currently available on the following broker software systems.

Find out what current users think

"I have found Macquarie Premium Payments absolutely fantastic, it has really increased efficiencies because we used to open the mail, bank the cheques and walk the cheques to the bank, all sorts of traditional old fashioned things."

Permi Rayat, Director, Consolidated Insurance Agencies

“Since using Macquarie Premium Payments we have found our clients are paying us much quicker. Our cash flow has improved and overall the money is coming in quicker. Certainly over the weekends we receive a lot more payments than we used to because people just jump online and pay.

Macquarie Premium Payments has positively impacted our back office processing in regards to receiving money. It has made a two hour job a five minute job with reconciliation being very simple, which saves a lot of time and labour costs.”

Andrew Benda, Director, City Rural Insurance Brokers.