July 9, 2019
GoCardless Ltd., a London-based startup that helps companies collect recurring payments, has entered an agreement with Docusign, which will use the platform to simplify recurring payments for its European customers.
GoCardless uses a cloud-based platform called Zuora to help companies automate subscription-based payments using direct debit, which the company says is a more efficient method of collecting recurring charges than using credit and debit cards.
"Our research with YouGov shows that around one third of consumers around the world prefer to pay for online subscriptions by bank debit/direct debit," Pranav Sood, general manager of strategy and international expansion at GoCardless, told Mobile Payments Today via email. "This might be a streaming service, recipe box service, software subscription or an online magazine."
Sood said that for consumers the direct debit method is easy to set up and reliable, and since bank details rarely change a consumer faces a lower risk of having the subscription disrupted due to a lost or stolen card.
GoCardless in February raised $75 million in a Series E fundraising round, led by Adams Street Partners, GV and Salesforce Ventures.
The company now has offices in San Francisco, according to Sood, and is hiring staff to build out its U.S. operations. The company is also working on an integration with Automated Clearing House Network to allow U.S. companies to set up payment collection via direct debit.
Topics: Bill Payment, Mobile Payments, Region: EMEA
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