The bills payment initiative aims to eliminate inefficiencies in the bills collection process, by ensuring that a biller can collect from its customer without requiring both parties to transact through a common PSP. 3.
Direct Debit 5/7  BIS central bankers' speeches  A direct debit will enhance customers’ management of recurring payments such as monthly rents by simply authorizing the payees to pull funds directly from their accounts. Likewise, having a direct debit arrangement would help payees streamline collection efforts and provide assurance that expected cash inflows are settled on time. 4.