Imagine you’re running an airline. You sell a ticket today for a flight six months from now. That’s six months where you’ve got the customer’s money, but they haven’t received anything yet.
Now imagine you’re Amazon. A customer orders something, and it’s on their doorstep within 24 hours.
Which business do you think is riskier for a payments company?
It’s the airline. And yet, when it comes to payment fees, accountants, some of the most low-risk businesses, are often charged the same as a high-risk e-commerce store or travel agency. And that makes no sense.
The Problem with Payments
At Engager LABS, Tom Pope, CEO of Adfin, took the stage to pull back the curtain on payments, exposing the hidden risks, mispriced fees, and the misconceptions that are costing accountants money.
“Payments is actually all about risk. But what most accountants don’t realise is that they’re often paying a price that doesn’t reflect their low-risk business model.”
Why Accountants Are Overpaying
Tom’s talk revolved around one central issue: mispricing.
Most payment providers don’t differentiate between businesses that deal with daily transactions (e-commerce, travel, retail) and businesses like accounting firms that have stable, predictable income.
That means accountants are being charged high fees despite having some of the lowest failure and fraud risks.
Direct Debit, The Myths and the Reality
Many accountants prefer Direct Debit for recurring payments. But there’s a problem: misinformation.
One of the biggest fears accountants have is Direct Debit chargebacks. Where a client can request a refund, and the bank takes the money back.
Tom explained that while chargebacks are possible, they’re often misunderstood. The reality is:
- Most Direct Debit chargeback claims are invalid.
- A customer cannot raise a chargeback just because they’re unhappy with your service.
- They can only request a refund if you’ve made a payment mistake.
“Accountants fear chargebacks, but in most cases, they’re not legitimate. The problem? Many payment providers aren’t helping accountants defend against them.”
How to Stop Overpaying for Payments
The takeaway? Accountants need to rethink how they approach payments.
Instead of accepting high fees and fearing chargebacks, they should be working with providers who understand their industry and can offer tailored solutions.
That’s exactly why Adfin launched Adfin Protect, a new service designed to:
- Give accountants full support during chargeback disputes.
- Provide access to the BACS portal so firms can defend claims themselves.
- Help accountants avoid overpaying on transaction fees.
And the best part? Adfin is partnering with Engager to make payments more integrated, smooth, and automated within practice management software.
Watch the Full Talk
Final Thoughts
Payments shouldn’t be complicated. But most accountants aren’t getting the transparency or support they need from traditional payment providers.
Tom’s talk was a wake-up call: you don’t have to accept high fees or hidden risks. You just need the right payment solution.
So, is it time to rethink how your firm gets paid?
Visit www.adfin.com to find out more.
