Stripe rolls out Bacs direct debit offering in UK

Friday 12 June 2020 12:05 CET | News

US-based global payments company Stripe has announced the launch of Bacs direct debit payments to its ecosystem.

According to AltfFi, Stripe’s new feature will represent a differentiator in the merchant payments industry, compared to companies like 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.

Overall, Stripe has been engaged in a variety of favourable events in the last few months, with a USD 600 million funding round in April 2020, and the launching in five new European countries in May 2020.

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Keywords: Stripe, Bacs direct debit, UK,, Stripe Checkout, merchant payments industry, merchants, Samsara, Yorlet, Chuffed, FreshBooks
Categories: Payments & Commerce | Online Payments
Countries: United Kingdom
This article is part of category

Payments & Commerce