Payment company GoCardless has teamed up with payment service provider Ecommpay for the inclusion of direct debit to the latter’s payment offering.
The new integration will allow Ecommpay merchants to tap into the GoCardless Embed offering, which will provide them with access to direct debit capabilities in more than 25 countries – allowing them to expand into new markets and new verticals.
Reaching this agreement comes off the back of a new GoCardless study, which found that payment service providers (PSPs) should be looking at innovating their business model to remain relevant and go against stiff competition.
According to the paper, payment choice is currently a top priority for merchants, of which 31% are willing to pay more for a wider range of payment methods. Furthermore, a third of businesses (35%) have said that they want their PSP to offer direct debit, while more than a quarter (27%) are interested in Open Banking.
Deepak Colluru, Director of Product Management for GoCardless Embed, said: “Gaining access to a wide range of payment methods is now a top priority for businesses, so PSPs need to keep up. By adding direct debit to its platform and diversifying payment choice, Ecommpay is staying ahead of the curve.
“We’re proud to support Ecommpay through GoCardless Embed, increasing its speed-to-market as it broadens its offering. And we’re even more excited to bring the benefits of bank payments to thousands of businesses, helping them to win and retain customers, save time and money, and get paid on time.”
The addition of GoCardless will complement Ecommpay’s alternative payment method offering and Open Banking payment solution with a unified proprietary platform.
Arthur Ribakovs, Director of Financial Partnerships at Ecommpay, added: “At Ecommpay, we are always striving to push the boundaries of fintech and payments innovation. We are therefore very excited to enable card payments, Open Banking and now direct debit transactions all together through our own unified platform, making us even better suited to fit our merchants’ needs and wants.
“We are also continuing to form strong partnerships to offer the very best service for our merchants, whether that’s expanding our Open Banking offering or now partnering with GoCardless for direct debit capabilities. Through Embed’s single integration, we can enhance our market-leading payments suite and continue to meet and exceed our customer’s expectations for payment choice internationally.”