UK-based payments fintech GoCardless has created a global network for bank debit, bolstered by a partnership with TransferWise.
The new network can be used to collect recurring payments such as subscriptions, invoices and instalments via bank debit. GoCardless customers can collect payments via multiple bank debit schemes around the world, without the need to navigate the specific rules for each, through the GoCardless API, dashboard or partner integrations.
By integrating directly to the TransferWise API, businesses can benefit from low cost, convenient and completely transparent pricing no matter what the currency, without leaving their account. This eliminates the need of having to open a new bank account in every country where the business collects payments, as well as eradicating receiving fees for foreign currency transactions.
With the ability to collect and pay out in over 30 countries worldwide - representing 70% of the global recurring payments volume - the new network will be available to all GoCardless customers via a phased roll-out starting mid-November 2019. Businesses will receive payments at the real exchange rate in GBP, USD, EUR, SEK, DKK, CAD, AUD and NZD.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now