GoCardless

GoCardless provides an online payment service for businesses and organisations. Its platform enables businesses to collect recurring payments from their customers or clients via direct debit, eliminating the need for manual payment processing and reducing the risk of payment failures.

The company was founded in 2011 in the UK and has since expanded to other markets, including Europe, the US, and Australia. It serves a variety of industries, including subscriptions, services, non-profits, and SMEs.

GoCardless’ platform is designed to be user-friendly and customisable, with features such as payment pages, branded emails, and payment notifications. The platform integrates with popular accounting software, CRMs, and e-commerce platforms, making it easy for businesses to manage their payments and automate their workflows.

One of the key benefits of using GoCardless is its low transaction fees, which are often lower than those charged by credit card processors. This can help businesses save money and improve their cash flow.

In addition to its payment services, GoCardless also provides resources and tools to help businesses manage their payments and optimise their revenue streams. These include webinars, guides, and analytics tools.

GoCardless at a glance:

Cost

Standard – No monthly fee, pay per transaction only | Plus – £50/month – includes the full standard subscription features plus your name on customer bank statements. | Pro – £200/month – includes the full ‘plus’ subscription features in addition to being able to develop your own payment pages

Competitors

SlimPay, OVRI Banking, Finom, Klarna

Function

Simplify Payments

USP

GoCardless removes the need for customers to view, approve, and action any invoices you send, so you don’t need to wait around for clients to authorise payment upon receipt of a new bill, the payment is made automatically

Use case

GoCardless is a useful fintech app for any business or organisation that needs to collect recurring payments from customers or clients. By automating the payment process, businesses can save time and money while providing a convenient and reliable payment option for their customers

Features

Instant, one off payments | Automated, recurring payments | Accounting integration | Billing & Invoicing | API

Strengths

Reduces payment failures | Advanced protection against fraud for recurring payments | Verified authenticator for better protection | Only need to setup payment once and will not need to update details again

Considerations

Access to some of the subscriptions can be expensive | User interface can sometimes be confusing

Target customers

Businesses with 1-10 employees that generate $1m-$10m in the Information Technology and Services, Computer Software and Accounting sectors