BillingPlatform and GoCardless announced a partnership on Wednesday (May 5) that the two companies say will help streamline the quote-to-cash process for businesses. In a press release, the companies said the partnership combines “innovative Payment Gateway Framework technology” and upgraded ACH debit capabilities to make billing easier.
“By combining the most flexible billing solution on the market with a low-cost payment method that increases cash flow and decreases churn, BillingPlatform and GoCardless offer a solution that enables recurring revenue businesses to turn their billing and payment strategy into a competitive advantage,” the companies said in the release.
GoCardless is a FinTech platform for bank-to-bank payments. BillingPlatform provides cloud-based monetization and payment solutions through its Payment Gateway Framework, an API-based common integration framework that gives payment providers a convenient way to connect and maintain their applications inside BillingPlatform. Together, the two companies aim to make it easier for their clients to get paid. With automation of the entire payment process — billing, invoicing, payment and collections — those clients will be able to cut some of their costs.
“Digital payments are taking off at a pace that few could have imagined, dramatically changing expectations for anyone collecting payments. Waiting days for a check to arrive or putting up with failed transactions is simply unacceptable,” GoCardless General Manager, North America Andrew ‘AG’ Gilboy said in the release. “This has prompted businesses to look for payment methods that are optimized for today’s world, and we’ve seen many turn to GoCardless and ACH debit.”
Wednesday’s announcement comes a little more than a week after GoCardless launched its Instant Bank Pay feature, which allows merchants to receive instant one-off, bank-to-bank payments from customers and still enjoy the benefits of bank debit from recurring payments. This is part of a larger open banking strategy by GoCardless, for which the company received $95 million in funding last year.
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