Ecommpay Capitalises on Direct Debit Popularity: Launches Offering in Partnership With GoCardless

Ecommpay, the international payment service provider, can increase its UK and EU market coverage by almost 50 per cent without cannibalising existing payment methods following a new partnership with GoCardless, the bank payment company. 

Together, Ecommpay now has the ability to offer direct debit payments for UK and EU businesses. Direct debit has seen a surge in popularity and consumer demand. In fact, it is now one of the UK’s most popular and trusted ways to pay, with 80 per cent of Brits having at least one to pay for their regular outgoings according to GoCardless.

Arthur Ribakovs, head of financial partnerships, Ecommpay said: “The addition of direct debit capabilities further expands Ecommpay’s already extensive portfolio, including global card acquiring via a single integration, Open Banking: Advanced, and 100+ local payment methods.

“With a full-stack proprietary ecosystem that ensures 99.999 per cent uptime and around-the-clock business and IT support, Ecommpay is not only strengthening its presence in the UK and Europe, but continues to improve its offering for FinTech and e-commerce merchants.”

Building on subscription service popularity 

A survey conducted by Ecommpay at the end of 2023 found that 54 per cent of UK consumers used subscriptions during the pandemic. Since then, 42 per cent have continued to do so and 14 per cent have even increased their usage. UK consumers have on average 1.6 active subscriptions, with 32 per cent using one regularly and 30 per cent using two.

In addition to evolving consumer payment preferences, businesses face challenges such as fraud prevention and reducing checkout abandonment rates. Recognising existing barriers and shifting end-consumer payment trends, Ecommpay has introduced direct debit payments as a proactive response.

The strategic partnership with GoCardless opens access for Ecommpay merchants to offer subscription-based payments across the UK and Europe. This includes improved acceptance rates and the security against fraud that comes with bank payments.

Deepak Colluru, director of product management for GoCardless Embed, said: “We’re extremely proud to help Ecommpay launch its direct debit offering, enabling its customers to tap into a payment option that is seamless, secure and highly preferred.

“Ecommpay’s speed to market is a testament to the simple ‘plug-and-play’ nature of GoCardless Embed, allowing payment service providers to access a global bank payment network in a matter of weeks. We look forward to helping millions of businesses realise the benefits of bank payments, from reducing costs, fraud and manual admin to increasing cash flow and conversion.”

The post Ecommpay Capitalises on Direct Debit Popularity: Launches Offering in Partnership With GoCardless appeared first on The Fintech Times.

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