By ET Bureau - June 03, 2020 2 Mins Read
Integration of GoCardless’ network will enable YayPay customers the flexibility of collecting recurring payments through a bank debit
GoCardless, the leading fintech for recurring payments, today announced a strategic partnership with YayPay, a leading predictive accounts receivable (AR) automation solution. This wide-ranging partnership will see YayPay integrate GoCardless’s global network with its AR offerings to provide direct debit payments to its expanding base of customers in North America and Europe.
By offering bank debit as a payment option, YayPay will help its customers to get paid faster, improve cash flow, and significantly reduce payment costs. YayPay joins a growing number of SaaS-based businesses choosing GoCardless to power global payments.
YayPay is among many U.S. businesses looking to increase international growth through the use of bank debit. Research conducted by GoCardless and YouGov indicates that while 69% of U.S. businesses collect international payments, and 72% of them have ambitions to increase their international growth over the next five years, 58% of them believe the complexity of cross-border payments is holding them back from this expansion.
“A growing number of our customers are seeking ways to expand their global reach by collecting invoice payments from customers in other parts of the world,” said Anthony Venus, CEO & Co-founder, YayPay. “By partnering with GoCardless and offering bank debit, we are empowering them to do this, while also addressing the payment options we make available to our own rapidly expanding list of customers worldwide. The GoCardless payment network is the ideal solution for addressing the international aspirations of our customers.”
Kevin Permenter, Research Manager at the International Data Corporation (IDC) said, “YayPay has continually leveraged innovation to increase their market presence in the accounts receivable software market. This partnership between YayPay and GoCardless is a further step in realizing the internationalization and expanding the global reach of YayPay’s customer base.”
“YayPay is a rapidly-growing business at the forefront of back-office automation and machine learning, and we are thrilled to be partnering with them to integrate the GoCardless network into their payment options,” said Andrew “AG” Gilboy, General Manager, North America, at GoCardless. “This partnership will expand the payment options offered through YayPay’s AR solutions and allow YayPay’s customers to operate in a way that’s truly borderless.”
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