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Airwallex offers direct debit through GoCardless

Tuesday 30 July 2024 12:31 CET | News

Global payments and financial platform Airwallex has selected GoCardless to provide direct debit to its customers across several markets.

 

Through GoCardless Embed, a white-label integration, Airwallex connects to GoCardless’ global bank payment network, helping Airwallex customers to expand into new verticals and use cases where direct debit is preferred.

Airwallex has launched the service in the UK, with Europe expected to follow soon after this announcement. This move from Airwallex is part of its commitment to supporting businesses of all sizes to achieve their global growth ambitions.

Airwallex has selected GoCardless to provide direct debit to its customers across several markets.

Merchant demand innovative payment solutions in PSPs

The partnership news comes as GoCardless research indicates that payment service providers (PSPs) must continue to innovate to stay competitive and boost customer retention. By surveying 1,250 merchants across the UK, US, France, Germany, and the Netherlands, GoCardless found out that increasing payment choice was cited as a top priority for merchants when asked what they would like from their PSPs: 31% of businesses surveyed would be willing to pay more for a wider range of payment methods. 35% want their PSP to offer direct debit and more than a quarter (27%) want them to offer Open Banking or other bank payment options.

Officials from Airwallex said that with direct debit continuing to be a trusted and popular way to pay, especially with the rise of the subscription economy, they felt it was the time to strengthen their offering so that merchants can better serve their customers. By working with GoCardless they could quickly provide this option through one simple integration.

Also commenting on this partnership, the GoCardless team said they’re excited to work with Airwallex to bring the best of direct debit to its customers. With fewer intermediaries, they are cheaper than cards and, in many cases, more reliable too, without expiry dates or lost payment details. They’re happy to add to their bank payment offering through Embed, giving Airwallex access to a global network in a matter of weeks, while at the same time reaching thousands of new merchants through their platform.

Streamlined API integration

GoCardless Embed is a new solution, which comes white-labelled as standard, that allows payment providers to integrate its global bank payment network straight into their platform through a single, simple API. The integration provides access to:

  • Bank payment schemes in the UK, Eurozone, US, and Australia;

  • End-to-end payment processing capabilities for bank payments including reconciliation, mandate management, reporting, and refunds;

  • Open Banking-powered features, including instant one-off and recurring payments in the UK and account verification and fraud prevention across the three markets.

GoCardless Embed allows providers to tap into the burgeoning account-to-account market, valued at around USD 225 trillion in transaction volumes worldwide.


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Keywords: API, direct debit, PSP, merchants, Open Banking
Categories: Payments & Commerce
Companies: Airwallex, GoCardless
Countries: Europe, United Kingdom, United States
This article is part of category

Payments & Commerce

Airwallex

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GoCardless

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