Doe and Co is a young and dynamic Commercial Insurance Brokerage based in Southampton in the south of England, founded in 2006 by Managing Director Matt Doe.
Doe and Co are members of the exclusive Cobra Insurance Broking Network, enabling them to remain independent but carry the weight of £360,000,000 of the Gross Written Premiums of the Cobra Members.
Matt Doe said,
“I initially approached another card payment service provider, but they did not understand the nature of my business and how we get paid for our services.”
For the first four to five years of the business, Doe and Co did not take card payments, customers paid their premiums by BACs, cheque or cash.
Matt Doe, Managing Director of Doe and Co said,
“More and more of our customers were asking us if we accept card payments, when the business was first established a member of the team would have to go to the bank every day to cash the cheques. The nature of our business means that for us to meet Financial Conduct Authority regulations, any cheques received must be banked within 24 hours. This made getting paid a very time consuming process, especially when you have to take into consideration; traffic, banking and parking fees and time spent in branch”.
“I initially approached another card payment service provider, but they did not understand the nature of my business and how we get paid for our services. When I joined Costco, I saw the deal that NetPay were offering, it looked easy to get set up, so I called and it was very simple and straightforward”, continues Matt.
Doe and Co use NetPay’s MOTO terminal, enabling them to take customer payments over the phone via our online virtual terminal. This negates the need for a physical card machine on the premises, allowing transactions to be processed live over the phone and a receipt of payment emailed to the customer.
“NetPay have made it easier for our customers to pay their premiums, taking card details there and then over the phone has improved cash flow and there are no more ‘the cheque is in the post scenarios’”.