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GoCardless Open Banking Payments a New Alternative to Taking One-Off Payments
GoCardless, a fintech for bank-to-bank payments, today launched Instant Bank Pay, a new open banking feature directly integrated into its global payment platform. With Instant Bank Pay, merchants can take instant, one-off bank-to-bank payments from new and existing customers while still reaping the benefits of bank debit for their recurring payments.
The announcement marks the first milestone in GoCardless’ journey to accelerate its open banking strategy, for which it received $95 million in funding at the end of 2020. By combining open banking technology with its existing global bank debit network, GoCardless can offer its more than 60,000 merchants a new low-cost, seamless and convenient way to collect instant payments that works for any revenue model.
GoCardless announced on Tuesday the launch of its open banking payments product,
Instant Bank Pay. According to GoCardless, merchants who use Instant Bank Pay may take instant, one-off bank-to-bank payments from new and existing customers while still having the benefits of bank debit for their recurring payments.
While sharing more details about the product,
said Hiroki Takeuchi, Co-Founder and CEO of GoCardless, stated:
“Instant Bank Pay addresses this pain point by giving merchants the best of both worlds: open banking will provide instant confirmation of payment authorization, enabling them to have immediate visibility of their one-off payments, and bank debit will continue to offer the cash flow, cost and retention benefits business owners have come to expect.”
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