Following this announcement, JustGiving will be enabled to leverage GoCardless’s Instant Bank Pay feature in order to collect secure, instant, and one-off gifts from customers, as well as its Direct Debit capabilities for recurring donations.
In addition, JustGiving estimates that 10% of its overall donations already go through Open Banking payments and that it represents a proportion aimed to continue growing. The company does not charge a commission fee on donations to charity clients, instead, it relies on optional tips and funds that donors use in order to cover its costs. The cost savings that will take place with the use of Instant Bank Pay are expected to optimise the process of sustaining JustGiving’s business model and deliver more money to good causes.
Other benefits of this collaboration and the use of Open Banking payments lie in reduced fraud and overall fewer refunds. The nature of these transactions is set to lower the number of accidental payments, as well as duplicate ones.
Global bank payments company GoCardless had multiple collaborations and product launches in the last couple of months, covering several different geographic areas around the world.
In December 2023, UK-based credit card company Yonder announced the extension of its collaboration with GoCardless, through the integration of Variable Recurring Payments (VRPs). This service was launched as an addition to the Direct Debit functionality that Yonder already incorporated, and it was designed to allow the company’s cardholders to use VRPs through GoCardless’ Instant Bank Pay. This was expected to allow customers to instantly pay off their credit card balance.
Yonder was enabled to access both Direct Debit and instant, recurring Open Banking payments through a single provider, which made the process of offering members improved payment options and optimised control in a more secure and convenient manner. At the same time, Yonder received two options for collecting transactions by merging payment methods with technology and expertise.
Earlier in the same month, GoCardless announced its partnership with Acre, an all-in-one platform for mortgage and protection brokers, in order to facilitate secure fee collection. Acre was developed to make the mortgage and protection process more streamlined, with easy case management offerings, as well as smart dashboards that enabled brokers to spend less time on admin and more time developing their businesses.
The partnership with GoCardless was set to enable the integration acceleration of the payment processes. By integrating Direct Debit for recurring payments and Instant Bank Pay, GoCardless provided its Open Banking payments feature for one-off payments directly into the Acre platform. This was expected to enable brokers to manage, collect, and reconcile their payments easily and securely, while also eliminating expensive card payments and optimising the overall customer experience.
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