Latest news with #GoCardless
Finextra
05-08-2025
- Business
- Finextra
GoCardless rolls out AI tool for same-day direct debit settlement
Bank payment company GoCardless has announced the launch of a groundbreaking new feature to redefine same-day settlement for Direct Debit. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The tool, Same Day Settlement+, leverages proprietary machine learning algorithms and transaction data from over 38 million accounts to significantly cut payout times and reduce late payment failures by over 80%. Thanks to this enhanced predictive capability, more than 96%, on average, of successfully collected payments can now be paid out on the same day. This not only drastically cuts the typical two-day BACS settlement time, but it also solves a critical industry challenge by reducing the cost and frustration of late payment failures. Over half (58%) of merchants say same-day settlement would be extremely beneficial to their business, enabling quicker access to funds and greater clarity over their cash flow. Additionally, 85% of merchants believe that receiving their money sooner will strengthen their relationships with customers and suppliers. The tool is currently available to a select group of GoCardless customers. This initial phase allows the system to train on diverse data, creating bespoke models. The introduction of Same Day Settlement+ cements GoCardless's position as a leading end-to-end bank payment provider, setting a new standard in how businesses collect and send both recurring and one-off payments. John Cooper, Managing Director at Communicate Telecoms said: "The same-day settlement service has been a game-changer for our monthly bill run. Like many small businesses, cash flow is one of our biggest challenges, and this service has made it significantly more manageable to get our funds at speed. This provides a massive boost to our finances." Shaun Puckrin, Chief Product Officer at GoCardless, said: "We're constantly innovating to make bank payments simpler and more efficient for businesses. Our new feature is a testament to that commitment, and a true differentiator for Direct Debit in the market. By combining payout speed with significantly reduced late failure rates, merchants can now enjoy the best of both worlds.'
Techday NZ
07-07-2025
- Business
- Techday NZ
GoCardless names Ian Boyd to lead Australia & New Zealand growth
GoCardless has appointed Ian Boyd as General Manager for Australia and New Zealand as part of a strategy to expand its presence in the region's evolving payments sector. Boyd, who previously served as General Manager of Partnerships at Xero, brings more than twenty years of experience in financial services and technology to the role. His career includes significant tenures at Visa, Barclaycard, and ANZ Bank, positioning him to lead GoCardless as it aims to grow its market share in the region. Growth strategy GoCardless has reported a 28% revenue growth in Australia and 36% in New Zealand during 2024. The company intends to build on this momentum, particularly as changes in Australia's payments infrastructure—including the rise of PayTo and the proposed decommissioning of BECS by 2030—create new opportunities for merchants and payment service providers. In his new position, Boyd is tasked with driving growth, fortifying partnerships, and expanding the company's PayTo offering across both countries. He is also expected to oversee GoCardless' efforts to respond to local market changes and address demand for modern payment solutions. Leadership remarks "It's an exciting time for payments in Australia and New Zealand with bank payments on the rise. Direct Debit has long been popular and with PayTo now enabled for over 90% of consumer bank accounts, it's the perfect time to strengthen our presence in the market. Ian's proven background, particularly his experience at Xero and deep understanding of the local market, makes him the ideal leader to drive our next phase of growth." This statement was made by Pat Phelan, Chief Commercial Officer at GoCardless, highlighting the alignment between Boyd's background and the needs of the business in the region. Market demand The announcement of Boyd's appointment coincides with GoCardless' ongoing efforts to solidify its position as a partner for Australian merchants navigating new payment technologies. Partnerships have already been established with organisations such as Salesforce, i=Change, Optty, and InsuredHQ. These relationships are seen as key components of the firm's regional growth plans, particularly as businesses seek alternatives to legacy payment infrastructure. Outlook from Ian Boyd "I'm excited to join GoCardless at this pivotal moment. We have a huge opportunity to show businesses the benefits of bank payments, helping them boost revenues, cut costs, and build stronger customer relationships. In Australia, with the proposed decommissioning of BECS and the emergence of PayTo, we're the ideal partner for merchants, offering Direct Debit now and the ability to become PayTo-ready for the future. In New Zealand, we'll bring the latest payment technology to accelerate growth, disrupting a market long underserved by outdated infrastructure. I'm confident we can take the pain out of getting paid for millions of merchants, enabling them to truly thrive." Boyd's comments reflect an emphasis on meeting evolving merchant needs and leveraging modernised payment rails in both Australia and New Zealand. Sector context More than 90% of Australian consumer bank accounts are now PayTo-ready, signalling the widespread adoption of new digital payment options. The upcoming retirement of the BECS payment rails by 2030 is expected to accelerate the industry's transition towards real-time and account-to-account solutions. GoCardless is positioning its platform and services to support businesses through this period of change, both in Australia and neighbouring New Zealand. As the payments landscape transforms, GoCardless plans to continue building on recent partnerships and strengthening its local presence under Boyd's leadership, aiming to support merchants adjusting to updated infrastructure and customer payment preferences. Follow us on: Share on:
Finextra
26-06-2025
- Business
- Finextra
GoCardless expands partnership with FreeAgent
GoCardless, the bank payment company, has expanded its partnership with FreeAgent, a cloud based business accounting software for small businesses, freelancers and their accountants, to provide faster and more convenient payment solutions to their customers. 0 GoCardless's Instant Bank Pay, its open banking-powered payment solution, and Success+, the fintech's AI-driven tool to automate payment retries, are now available directly within the FreeAgent platform. Instant Bank Pay will allow FreeAgent customers to offer a more convenient, secure, and instant way to pay. By collecting funds directly from their customers' bank accounts, they will reduce late payments and improve cash flow. This is particularly beneficial for high-value one-off invoices, as it helps businesses to avoid costly card fees and removes the need for customers to manually enter bank details. FreeAgent customers will be able to use Instant Bank Pay alongside its existing GoCardless Direct Debit functionality, enabling them to take both one-off and recurring payments within a single platform. This creates a flexible payment flow for different use cases, such as accepting an immediate ad-hoc payment for a new client via Instant Bank Pay and setting up a recurring Direct Debit for ongoing services. FreeAgent has also added GoCardless's Success+ to its platform. Success+, which recovers two-thirds of failed payments on average, applies machine learning to data from the millions of transactions GoCardless processes each year to intelligently identify the best time for payment retries. This means FreeAgent customers will have access to an innovative tool that helps them recover more revenue, decrease involuntary churn and save time from chasing late payments -- all whilst delivering a better customer experience and no disruption in service. Andrew King, Principal Commercial Manager at FreeAgent, said: 'We are incredibly excited about adding two new GoCardless features within FreeAgent. Instant Bank Pay is our first open banking payment solution for accounts receivables, and represents a significant step in handling one-off invoices. Equally, Success+ will be a gamechanger when it comes to addressing one key pain point for small businesses – ensuring their payments are successful. Our goal is to provide our customers with the best tools that simplify their financial lives and by integrating these two products, we can do exactly that." Tom Metcalfe, Director, UK&I Partnerships at GoCardless, said: 'Expanding this partnership with FreeAgent allows us to bring the power of Instant Bank Pay and Success+ to a vast network of small businesses, freelancers and their accountants. This collaboration will not only offer them a cheaper alternative to cards but also a way to collect more of their hard-earned money and prevent involuntary churn."
Yahoo
03-06-2025
- Business
- Yahoo
GoCardless unveils new Outbound Payments feature
GoCardless has introduced Outbound Payments, expanding its platform to enable merchants to directly send payments to customers, suppliers, and third parties. The service is integrated within the GoCardless platform, enabling a unified approach to manage both incoming and outgoing bank transactions. The new feature is designed to streamline payment operations for merchants, offering a single platform for both account-to-account collections and payouts. This integration is anticipated to simplify the reconciliation process and enhance the overall visibility of payments. By consolidating collections and payouts, Outbound Payments seeks to reduce the time and financial resources typically required for setting up and maintaining separate payment systems. The service aims to eliminate the need for multiple contractual processes, thereby increasing operational efficiency for businesses. Outbound Payments incorporates payment security measures, enabling merchants to repurpose stored bank details from collections to minimise manual entry errors during payouts. The service also includes a Confirmation of Payee functionality, which verifies that the recipient's name corresponds with the registered bank account information prior to the transfer of funds, aiming to prevent erroneous or fraudulent transactions. GoCardless chief commercial officer Pat Phelan said: 'Thanks to the rapid integration of Nuapay we can now offer an 'all-in-one' bank payment platform that serves all payment flows. From reducing costs and simplifying back-end processes to increasing payment visibility and protecting against fraud, there are now even more reasons to use GoCardless. The development follows GoCardless's acquisition of Sentenial Ltd, operating globally under the Nuapay brand, from EML Payments. In January, GoCardless partnered with COHO, a property management software provider, to offer bank payment options to property managers. "GoCardless unveils new Outbound Payments feature " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
14-05-2025
- Business
- Finextra
Iplicit partners GoCardless for in-app direct debit functionality
Cloud accounting fintech has announced a new update to its product, in partnership with bank payment provider GoCardless. iplicit, which is purpose-built for the UK and Ireland's mid-market, will bring GoCardless' Direct Debit capabilities to customers using its cloud accounting platform. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The arrival of GoCardless' Direct Debit features follows the successful roll-out of its open banking-powered Instant Bank Pay to iplicit customers in the first quarter of 2025. Organisations using iplicit will now benefit from a simple in-app interface for managing and automating their Direct Debit payments, powered by GoCardless, with features such as: • Automatic scheduling for one-off or recurring payments on invoice due dates, minimising late payments • Automated payment collection and reconciliation, reducing time-consuming financial admin thanks to connections with over 350 GoCardless partners • User-friendly payment set up, allowing for easy and secure collection of payment details online via customisable payment page or payment link • Payment tracking and visibility, allowing collection at first time of asking and using payment intelligence to retry failed payments at optimal times Direct Debit payments are pull based, meaning that iplicit users, as merchants, initiate the payment once given a mandate by their customer. Direct Debit payments are also bank-to-bank, with no card networks - and the associated high fees - involved. By adding GoCardless' Direct Debit capabilities to Instant Bank Pay, iplicit can now offer busy businesses one place to manage recurring and one-off payments, helping them streamline their operations to save time and money. iplicit announced the extension of its partnership with GoCardless at Accountex in London's ExCel. Having collected its own payments via GoCardless since 2019, the award-winning accounting software provider is confident that the partnership will answer the Direct Debit needs of its midmarket customer base. This includes customers across a variety of verticals, such as non-profit, recruitment, education, fintech, SaaS, and multi-academy trusts. Paul Sparkes, Chief Product Officer at iplicit adds: 'At iplicit, we prioritise listening to the needs of our midmarket customers to continually refine our product and identify ways of improving their day-to-day financial admin and cashflow.' 'Our ongoing partnership with GoCardless, a leader in the payments space, allows us to offer exactly what these customers need, which is a straightforward, seamless, and reliable solution for automating and collecting Direct Debit payments. This eliminates the inefficiencies and errors common with manual payment collection and chasing of failed or missed payments. Merchants using iplicit can now enjoy reliable cashflow and added confidence when managing their recurring payments.' Born in the cloud, iplicit's state-of-the-art platform is specifically tailored for businesses that have outgrown basic entry-level systems or grown frustrated with legacy on-premises vendors. It delivers the advanced functionality and performance of upmarket systems at a fraction of the cost and complexity. Tom Metcalfe, Director, UK&I Partnerships at GoCardless, said: 'We're excited to follow our successful introduction of Instant Bank Pay with this Direct Debit integration. iplicit customers now have an all-in-one solution for recurring and one-off payments, directly within a platform they know and trust. This will help them get paid on time, save time and money, and win and retain more customers.'
