- The account-to-account (A2A) fintech company is strengthening its presence in the first half of 2021 with a 118 percent increase in new business and gaining energy newcomer Lition, among other things. The number of employees increases by 140 percent.
- Use DocuSign and Epson GoCardless and the popularity of direct debit payments for rapid international expansion and higher conversion rates.
- GoCardless’ recent launch of Open Banking Payments will help companies gain easy access to the latest payment technologies to reduce costs, increase payment success and meet customer preferences.
Fintech company introduces first open banking feature
The fintech company was able to more than double its new business compared to the previous year (+118%) and win well-known new customers, such as the provider of renewable energies, Lition. This goes hand in hand with an increase in new talented employees (+140%) who strengthen the presence in the market.
The growth spurt follows the latest funding round announced last December, which is intended to drive GoCardless’ open banking strategy and which valued the fintech at nearly $ 1 billion. In April, the leading fintech recurring payments company launched its first open banking feature, Instant Bank Pay, in the UK. Availability across Europe will follow soon.
Companies are increasingly digitizing and expanding their digital offerings for customers with the demand for a first-class user experience, including in the payment process. “As a rule, an increase in conversion or a faster go-to-market across several countries is the impetus for companies to find a good solution for online direct debit payments,” explains Sascha Nagel, Sales Director DACH at GoCardless.
Epson and DocuSign increase conversion rates with online direct debit from GoCardless
For the past several months, GoCardless has helped multinationals around the world increase their conversion rates, accommodate payer preferences, and accelerate their time to market as they expand internationally. For example, the fintech company worked with Epson to push the introduction of ReadyPrint ink subscriptions, which are ideal for the increase in home office and schooling caused by Covid-19. Epson was able to achieve its goal of being launched in nine markets at the same time using the GoCardless global payment network platform via a single interface.
After the introduction of GoCardless, Epson contacted customers who had previously canceled the payment process for ReadyPrint and informed them that direct debit was now also offered. With a positive result: 80 percent of these customers have still completed their purchase. Epson is also seeing significant improvements by region: Eighty percent of customers in the Netherlands and Germany now pay with GoCardless. The conversion rates in these countries rose by 40 to 50 percent, on a comparable level in other European markets.
DocuSign also introduced payment by direct debit with GoCardless. Here the conversion rate could be increased by 10 percent. In addition, customer loyalty for GoCardless payers after 12 months of using DocuSign is 70 percent, compared to 69 percent for credit card users and 61 percent for PayPal users.
Fintech company GoCardless is looking forward to more dealers
“The last few months have been very exciting for us in the DACH market, from signing great start-ups like Lition to supporting well-known brands like Epson and DocuSign,” says Stephen Reidy, Vice President of Sales and General Manager Northern Europe at GoCardless, and adds: “The region has always had a strong preference for direct debits, but with increasing digitalization, companies are looking for sophisticated payment solutions. Our customers confirm to us that our platform offers great added value compared to the offers of banks and traditional direct debit providers – mainly due to the simple integration, the global payment network, automated services and the use of new technologies such as instant billing, fraud prevention and open banking. As we continue to grow in the DACH region, we look forward to showing even more merchants how they can transform their business with every single payment. “