Yonder extends partnership with GoCardless

According to Yonder’s officials, consumers demand additional control over their finances, considering the current economic conditions. To serve the demands of its customers, the company integrated VRPs, which increase the frequency at which members make repayments. Considering their instant nature, VRPs can immediately free up their credit line and allow them to use the company’s rewards, further enabling them to manage their repayments in an improved manner. Furthermore, Yonder leveraged GoCardless for Direct Debit since 2022, and the move to add VRPs came due to the latter’s knowledge of bank payments. As Open Banking is still in an early phase, the company intends to provide an alternative payment option for its members in case their banks don’t currently offer VRPs or they encounter difficulties as the technology continues its development. Also, Direct Debit and VRPs complement each other and, by pairing them, Yonder can allow its customers to access more payment options.

Representatives from GoCardless expressed their enthusiasm over the expansion of their company’s collaboration with Yonder, as by providing VRPs, the latter can continue to offer an improved member experience. By merging Direct Debits and VRPs, Yonder can receive enhanced bank payments, using two payment methods that are secure and cost-effective.

With its operations based in the UK, GoCardless is a participant in direct bank payments, currently supporting more than 85,000 businesses in collecting both recurring and one-off payments. Each year, the company processes more than USD 30 billion in payments across 30 countries. In recent months, GoCardless entered multiple collaborations to support its development strategy, including one with Acre in December 2023. Through this partnership, the two companies intended to facilitate fee collection, with the integration of GoCardless accelerating the payment process. By implementing Direct Debit and Instant Bank Pay directly into the Acre platform, brokers were enabled to manage, collect, and reconcile their payments conveniently. Furthermore, the move was aimed to eliminate expensive card payments, while developing an improved payment experience for customers.

A month prior, Ecommpay, an international payments service provider, partnered with GoCardless to include direct debit features in its suite of payment methods. The implementation of GoCardless Embed allowed merchants to tap into direct debit capabilities in over 25 countries within a platform that they were familiar with. Both Ecommpay and GoCardless focused on solidifying the expansion of businesses in their existing markets while also providing the ability to grow into additional verticals and use cases where bank payments were preferred.