GoCardless partners with Form3 for payment connectivity in the UK

Following this announcement, Form3’s tech solutions will offer GoCardless improved operational and technical resilience. This will maintain service continuity as the business grows in the region.

Bacs payments

For businesses in the UK, Bacs (Bankers’ Automated Clearing Services) is one of the most popular and affordable payment methods available. It offers a secure and simple way to process transactions for a variety of use cases, including managing payroll, paying suppliers, or collecting recurring payments like subscriptions or utilities.

A Bacs payment is a bank-to-bank transfer widely used for direct debits and direct credits. It typically takes up to three working days to process. It is reliable and cost-effective, with fees typically ranging from GBP 0.05 to GBP 0.5 per transaction, which makes it a widely used option in the UK. Compared to Faster Payments or CHAPS, Bacs is generally more economical for high-volume transactions, helping businesses reduce overall operational expenses.

Fast and efficient payment processing

GoCardless mentions that having the right systems in place to process payments for all its customers in the UK, and the potential to handle an increasing number of transactions every month, is fundamental for growth and maintaining business. It chose Form3 as the platform is known for offering fast and efficient payment processing that can match its vision and mission.

Form3 has the payment technology that can offer GoCardless operational resilience, speed, and the ability to scale. The platform’s A2A feature offers the payment company the ability to connect to other payment schemes across the UK and Europe in the future. This can further support growth and expansion.

For more information about GoCardless, please check out their detailed profile in our dedicated, industry-specific Company Database.