Airwallex partners with GoCardless to strengthen direct debit offering

London, 30 July 2024 – Airwallex, a leading global payments and financial platform for modern businesses, has selected GoCardless to provide direct debit to its customers across several key markets.

Through GoCardless Embed, a white-label integration, Airwallex now connects to the GoCardless’ global bank payment network, helping Airwallex customers to expand into new verticals and use cases where direct debit is preferred.

Airwallex has launched the service in the UK, with Europe expected to soon follow. The announcement is the latest move from Airwallex as part of its commitment to supporting businesses of all sizes to achieve their global growth ambitions. 

Justin Leung, Financial Partnerships Manager at Airwallex, said: “Businesses of all sizes are looking at how they can adapt to evolving customer needs -- and payments are no exception. With direct debit continuing to be a trusted and popular way to pay, especially with the rise of the subscription economy, we felt it was the perfect time to strengthen our offering so that our customers can better serve theirs. By working with GoCardless we were able to quickly provide this option through one simple integration."

Deepak Colluru, Director of Product Management for GoCardless Embed, said: “We’re excited to work with Airwallex to bring the best of direct debit to its customers. With fewer intermediaries, they are cheaper than cards and in many cases more reliable too, without expiry dates or lost payment details. 

“It’s a win-win for us to partner with Airwallex. We’re proud to add to their bank payment offering through Embed, giving them access to a global network in a matter of weeks, while at the same time reaching thousands of new merchants through their platform.”

The partnership news comes as GoCardless research indicates that payment service providers (PSPs) must continue to innovate to stay competitive and boost customer retention. Increasing payment choice was cited as a top priority for merchants when asked what they would like from their PSPs: 31% of businesses surveyed would be willing to pay more for a wider range of payment methods. Over a third of businesses (35%) want their PSP to offer direct debit and more than a quarter (27%) want them to offer open banking or other bank payment options. 

Notes to Editors

For more information, contact: The PR team at GoCardless

press@gocardless.com

If you have any questions or would like to request further information, please contact press@airwallex.com 

Figures cited in this release are based on a survey of 1,250 merchants across the UK, US, France, Germany and Netherlands. The study was conducted online via Attest in June and July 2023.

GoCardless Embed is a new solution, which comes white-labelled as standard, that allows payment providers to integrate GoCardless’ global bank payment network straight into their platform through a single, simple API. The integration provides access to:

• Bank payment schemes in the UK, Eurozone, US and Australia

• End-to-end payment processing capabilities for bank payments including reconciliation, mandate management, reporting and refunds

• Open Banking-powered features, including instant one-off and recurring payments in the UK and account verification and fraud prevention across the three markets

GoCardless Embed allows providers to tap into the burgeoning account-to-account market, valued at around USD 225 trillion in transaction volumes worldwide*.

*GoCardless analysis drawing from the McKinsey Global Payments Map; WorldPay Global Payments Report; industry research

About GoCardless

GoCardless is a global leader in direct bank payments. We help more than 85,000 businesses, from start-ups to household names, collect both recurring and one-off payments, without the chasing, stress or expensive fees. Each year GoCardless processes more than US$35 billion of payments across 30+ countries. Our acquisition of Nordigen means we’re also helping businesses make faster and more informed decisions through easy access to bank account data. We are headquartered in the UK, with additional offices in Australia, France, Latvia and the United States. For more information, please visit www.gocardless.com and follow us on Twitter @GoCardless. 

© 2024 GoCardless Ltd. All Rights Reserved. GoCardless is a registered trademark of GoCardless Ltd in multiple countries. Third party trademarks mentioned above are owned by their respective companies. Unless explicitly identified as such, nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of GoCardless Ltd. or any aspect of this press release.

About Airwallex 

Airwallex is a leading global financial platform for modern businesses, offering trusted solutions to manage everything from payments, treasury, and spend management to embedded finance. With our proprietary infrastructure, Airwallex takes the friction out of global payments and financial operations, empowering businesses of all sizes to unlock new opportunities and grow beyond borders. Proudly founded in Melbourne, Airwallex supports over 100,000 businesses globally and is trusted by brands such as Brex, Rippling, Navan, Qantas, SHEIN and many more. For more information, visit http://www.airwallex.com