in Business

How do consumers prefer to pay for recurring purchases in 2019?

How do consumers want to pay for subscriptions, memberships, bills and instalment plans? The answer to this question can hold the key to conversion rate optimisation for businesses. Knowing which payment methods your customers are comfortable with, and which they actively prefer to pay with, can have a significant impact on revenue generation for businesses taking recurring payments.

We partnered with YouGov to ask 12,785 consumers across the UK, France, Germany, Spain, Denmark, Sweden, USA, Canada, Australia, and New Zealand what their payment preferences are in 2019. The research covers four typical recurring purchase use cases: traditional subscriptions, online subscriptions, household bills, and instalments. Together, these markets represent more than two-thirds of the world’s recurring payment volume.

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GoCardless and Zuora go live in Sweden and Denmark

Last month we announced our new scheme launch with Zuora in Australia, and this month we’ve turned our attention to the Nordics. We’re excited to announce that Zuora customers in Sweden and Denmark can now take recurring payments with GoCardless via Autogiro and Betalingsservice!

GoCardless has been processing payments in the Nordics since 2015, and with the addition of Autogiro and Betalingsservice to our Zuora partnership, we’re uniquely positioned to support the growth of the Nordic subscription economy and solve the common issues that enterprise businesses face through collecting recurring payments.

John Phillips, Managing Director, EMEA, Zuora, said: “Our mission is to enable all companies to be successful in the subscription economy. Collaborating with GoCardless means we can offer our customers, and their customers, more flexibility and scalability when it comes to subscribing to new goods and services."

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in Business

Behind the scenes of Brexit: our approach to hyper-uncertainty

“Uncertainty is an uncomfortable position, but certainty is an absurd one” – or so said the French philosopher Voltaire.

Uncertainty in business is to be expected. But for many UK-based businesses with global reach, the hyper-uncertainty caused by Brexit over the last three years has been particularly uncomfortable.

As a business with 37+ nationalities, a strong European employee base and an international outlook, the decision to leave the EU came as a surprise to many here. But come 24 June 2016, we set to work researching, scoping and contingency planning.

From the start, our guiding principle was to prepare for leaving the EU without a deal – to ensure no disruption to customers, while continuing apace with our international expansion.

The UK’s political ties to Europe may have been slowly unravelling, but we stayed resolute in our belief that connectedness is the way forward for GoCardless and our customers.

Ensuring zero disruption

It quickly became obvious that the only way we could guarantee zero disruption to our customers, was to acquire a second licence to provide regulated services in another European Member State.

We researched options for the licence – assessing countries on over 30 dimensions including cost, regulatory requirements and speed of setup. We consulted law firms, regulators and consultants – and ultimately decided on France.

France represents our largest customer base outside the UK, and is the home of our first international office. Having made our decision, in the summer of 2018, we began our application for a licence with the French regulator.

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What Brexit means for GoCardless
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in Announcements

GoCardless and Zuora go live in Australia with seamless recurring payments

Today we’re pleased to announce that Zuora is partnering with GoCardless to help Zuora customers take recurring payments in Australia!

GoCardless has been processing payments in Australia since 2018, and with the addition of the BECS scheme to the Zuora partnership, they’re uniquely positioned to support the growth of the Australian subscription economy and solve the common issues that enterprise businesses face through collecting recurring payments.

According to Iman Ghodosi, Zuora's GM Asia Pacific Region:

“Collaborating with GoCardless means we can offer our customers, and their customers, more flexibility and scalability when it comes to subscribing to new goods and services. By providing more payment options than ever before, companies are able to tailor their offerings to attract a wider range of subscribers, on more attractive and profitable terms.”

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in People

4 ways we’re bringing more gender balance to GoCardless

We know there’s more to do when it comes to gender diversity in our team. Since last March, the number of women at GoCardless has grown by 3% to 37% overall – including a 7% increase in our tech teams (15%), 3% in management (32%), and 6% in women in senior leadership roles (20%).

Although numbers have gone up, we’re looking at how we can improve gender balance in areas where it lags the most – Product Development and senior leadership.

To help us achieve this, and because they believe in unleashing individuals’ potential, some of our women leaders came together to form a group focused on gender balance at GoCardless, sponsored by Catherine Birkett, our CFO.

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Careers at GoCardless
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Debugging the Postgres query planner

At GoCardless Postgres is our database of choice. Not only does it power our API, Postgres is used extensively in a number of internal services. We love it so much we just won't shut up about it, even when things go wrong.

One of the reasons we love it so much is how easily you can dig into Postgres' implementation when there are issues. The docs are great and the code exceptionally readable. These resources have been invaluable while scaling our primary database to the ~2TB we now run; no doubt they will continue to provide value as our organisation grows.

We at GoCardless believe that failure can be a great learning opportunity, and nothing proves that more than the amount we've learned from Postgres issues. This post shares a specific issue we encountered that helped us level-up our understanding of the Postgres query planner. We'll detail our investigation by covering:

We conclude with the actions we took to prevent this happening again.

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in Announcements

Announcing our $75m funding round to open up access to our global bank debit network

We’re incredibly excited to announce a new investment round of $75 million, led by new investors Adams Street Partners, GV (formerly Google Ventures) and Salesforce Ventures, as well as existing investors: Accel, Balderton Capital, Notion Capital and Passion Capital.

This Series E investment takes the total amount we’ve raised to $123 million and enables us to take the next steps on our mission to take the pain out of getting paid, so businesses can focus on what they do best.

A broken payments landscape

Over the last 10 years, we’ve seen the rise of the subscription economy and the boom of the business services sector.

We’ve seen more and more businesses develop long term relationships with customers, through subscription and instalment plans and through professional services agreements and retainers.

We estimate that around 18% of global payments are now recurring.

But while business models have moved on: payments haven’t.

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The rise of bank to bank payments
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in Business

FAQ Friday – How can you improve your accounts receivable process?

Accounts receivable. We’ve all heard the term before, but if you’re not part of a finance team, it can be tough to fully understand what impact it will have on your cash flow and the health of your business.

In this week’s FAQ Friday, we break down exactly what accounts receivable means, why it’s really important and share a few tips on how you can improve it to benefit your payment collection and overall cash flow.

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Optimise your accounts receivable
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