Rent The Roo Partners with GoCardless to boost Payment Success and remove ‘unfair’ dishonour fees from network

Melbourne, 21 November, 2024 -- Rent The Roo, an Australian company providing consumer leases, has announced a partnership with GoCardless, a global leader in direct bank payments. The partnership will allow Rent The Roo to remove punitive dishonour fees for its customers while delivering fully digital direct debit payments and increasing payment success rates.

Rent The Roo provides affordable leases, or rentals, on everything from phones and home appliances to furniture, computers, and garden items.

Thanks to GoCardless, Rent The Roo’s customers will now benefit from real-time updates and reminders for upcoming payments. This means they can more easily track both pending and completed transactions, giving them greater visibility and control over their instalments.

GoCardless has also assisted Rent The Roo in boosting customer satisfaction by eliminating customer payment dishonour fees. As is the case with many payment service providers in Australia, Rent The Roo’s previous provider charged dishonour fees, for instance if a payment was missed, submitted later or if a payer makes an error in the process. This led some customers to mistakenly believe the charges originated from Rent The Roo. By removing these, customers have a reduced risk of falling further behind on payments and more transparency over the fee structure.

Eve McIntyre, General Manager at Rent The Roo said: “With our previous payment provider, debit transactions could appear as pending for 24 to 72 hours, often causing confusion about whether a payment had been made. This led to missed payments and unfair third-party fees piling up for clients. With GoCardless, we’ve taken those charges out, keeping repayments straightforward and fair—no extra penalties attached.”

With GoCardless, payments are automatically pulled from customers’ accounts when due, which has improved payment success rates. This setup is perfect for its ongoing leases, ensuring payments are always collected on time and without hassle for both Rent The Roo and their customers. GoCardless’ digital-first model and easy-to-use platform has also provided benefits, and the team have worked with Rent The Roo to scale GoCardless across the whole franchise network seamlessly to rectify any fragmented data and processes that these networks often suffer from.

“Not having dishonour fees has significantly eased our customers’ concerns. They used to assume dishonour fees were from Rent The Roo when we had no control over them. GoCardless believes payments should be transparent, which is why it doesn’t charge dishonour fees, meaning customers feel more at ease communicating openly with us about any anticipated missed payments.” said McIntyre. 

Luke Fossett, General Manager of Australia and New Zealand, GoCardless said: “We're really proud to support businesses like Rent The Roo with a payment system that’s simple, reliable and transparent. Often, businesses are reluctant to make significant updates to their payment network due to the difficulty of getting franchisees up to speed at the same time while ensuring customers are not negatively affected. We listened to their challenges and provided personalised support during their data migration from their former payments provider. This whole bulk change process was handled with care to reduce any risk of customer friction and churn.”

“Using bank payments for instalments offers greater security and reliability for both our merchants and their payers. With direct debit, payments are automated, which reduces the risk of missed or late payments, helping businesses maintain a more predictable cash flow,” said Fossett.

“Plus, we don’t enforce any dishonour fees, which benefits both Rent The Roo and their customers. Late or failed payments do happen, usually unintentionally, but they shouldn’t be used as a revenue source by payment providers,” says Fossett.

Notes to Editors

For more information, contact:

press@gocardless.com

About GoCardless

GoCardless is a global bank payment company. Nearly 100,000 businesses, from start-ups to household names, use GoCardless to collect and send payments through direct debit, real-time payments and open banking.

GoCardless processes US$130bn+ of payments annually across 30+ countries; helping customers collect and send both recurring and one-off payments, without the chasing, stress or expensive fees. We use data and insights to improve payment success, reduce fraud and, with open banking connectivity to over 2,500 banks, help our customers make faster, more informed decisions.

We are headquartered in the UK, with additional offices in Australia, France, Ireland, Latvia and the United States. For more information, please visit www.gocardless.com and follow us on LinkedIn @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 Rent The Roo

A proudly Australian & Family owned business, Rent The Roo was established in 1976 and is now managed by the second and third generations of the family. With 58 franchises located throughout Australia, Rent The Roo offers a wide range of top quality and affordable phones, home appliances, furniture, computers, home & garden items for you to rent. Generally, if we can find it you can rent it!ll items are brand new, we can arrange door to door delivery, easy rental repayment plans, and ongoing support and service for the life of your rental agreement.

Notes to Editors

For more information, contact:

press@gocardless.com 

About GoCardless

GoCardless is a global bank payment company. Nearly 100,000 businesses, from start-ups to household names, use GoCardless to collect and send payments through direct debit, real-time payments and open banking.

GoCardless processes US$130bn+ of payments annually across 30+ countries; helping customers collect and send both recurring and one-off payments, without the chasing, stress or expensive fees. We use data and insights to improve payment success, reduce fraud and, with open banking connectivity to over 2,500 banks, help our customers make faster, more informed decisions.

We are headquartered in the UK, with additional offices in Australia, France, Ireland, Latvia and the United States. For more information, please visit www.gocardless.com and follow us on LinkedIn @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 Rent The Roo

A proudly Australian & Family owned business, Rent The Roo was established in 1976 and is now managed by the second and third generations of the family. With 58 franchises located throughout Australia, Rent The Roo offers a wide range of top quality and affordable phones, home appliances, furniture, computers, home & garden items for you to rent. Generally, if we can find it you can rent it!ll items are brand new, we can arrange door to door delivery, easy rental repayment plans, and ongoing support and service for the life of your rental agreement.