According to AltfFi, Stripe’s new feature will represent a differentiator in the merchant payments industry, compared to companies like Checkout.com. Moreover, the Bacs direct debit option will be available via Stripe’s own Stripe Checkout or can be integrated into custom checkouts by developers.
The integration comes at a time when startups’ usage of Bacs Direct Debits is increasing, including companies such as US-based industrial IoT provider Samsara, UK-based proptech Yorlet, and non-profit charities like Chuffed, which often rely on recurring donations. Furthermore, in late 2020, cloud accounting platform Freshbooks plans to launch, with the help of Stripe, direct debit capabilities in the UK.
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