London-based fintech startup GoCardless expands to America, hoping to shake up recurring payments systems

London-based fintech startup GoCardless expands to America, hoping to shake up recurring payments systems

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GoCardless, the London-based fintech startup that aims to take the pain out of getting paid for businesses with recurring revenue has launched a U.S. debit solution. In addition to it, the company has also announced the opening of a U.S. headquarters in San Francisco. Notably, GoCardless has offices in London, Paris, Munich, and Melbourne.

Simplifying recurring payment process! 

In a bid to simplify the recurring payment process, GoCardless has announced a new product on its platform to support debit payment on the Automated Clearing House (ACH) network. 

With this move, businesses can use the GoCardless platform in the U.S. to offer consumers the option to pay by recurring bank payments instead of credit cards.

Right now, the platform works across 30 countries and covers 70 percent of the world’s recurring payments by volume. 

Why ACH debit?

According to the company, ACH debit is becoming an increasingly popular choice for B2B payments in the U.S. and is expected to be more widely used than traditional payment methods, like cheques, by 2020. Moreover, the businesses using the GoCardless ACH debit solution gain increased payment visibility via a “fully automated” collection system.

ACH debit payments in the U.S. are processed through the Automated Clearing House (ACH) network, which is run and regulated by the National Automated Clearing House Association (NACHA). 

The addition of U.S. payments means that GoCardless users are now able to take payments from more than 30 countries around the world, enabling businesses to provide their customers with a consistent and best-in-class payment experience across multiple markets.

Global leader in recurring payments!

Founded by Hiroki Takeuchi, Matt Robinson in 2011, The company helps businesses to process recurring payments around the world, and it uses an international network to process payments in the U.K., the Euro-zone, and Sweden.

The B2B payment provider has so far raised €111 million in funding with backings from the venture capital arms of Google, Accel, Salesforce, and more.  

This fintech company processes $10bn in transactions a year and manages 40,000 businesses around the world as customers, from small businesses to household names like Thomas Cook, TripAdvisor, and the Guardian.

Stay tuned to Silicon Canals for more European technology news.

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