Bad debt, increased churn, and extra labour costs are quick to follow. Working capital gets locked up. Customer LTV shrinks and your acquisition costs grow.
And you’re stuck chasing payments instead of growing your business.
Did you know that credit cards have an 8% failure rate?
With GoCardless, you can enhance your customer experience, reduce payment failures and boost your bottom line. All from adding a single payment option.
What if you could recover 70% of your failed payments on autopilot?
Meet Success+, our intelligent payment retry tool. It identifies the best day and time to recollect payments based on data from millions of payers. Then it recovers the payment. Without you having to lift a finger.
Finally, Direct Debit is providing real competition to credit cards.
Built for one-off payments, Instant Bank Pay gives you instant confirmation of the payer. So you can easily collect one-off and recurring payments that are safer, cheaper and more reliable than credit cards. From one simple payments platform.
Plum reduced payment failure to 0.48%
Money management app, Plum, chose GoCardless to build an automated billing system with low failure rates.
By switching to seamless account-to-account payments with GoCardless, Plum have seen their total monthly deposits increase by 131%.
By adding Success+ to intelligently retry failed payments they’ve seen payment failures drop from 3.6% to 0.48%.
Want to unlock your cash flow? Here’s how much you could be recovering
Discover how much cash flow you could release back into your business with our nifty calculator. In just 3 simple questions, you’ll know just how much you could be saving.
When doing analysis on our failure rates, GoCardless has a much lower failure rate than our average across all of our different methods. We're expecting that with more customer adoption of GoCardless, our overall failure rates as a company will decrease.
Courtney Chin, Director of FinTech Ops, Deel
Report: Discover 3 ways GoCardless can maximise your payment success
Find out how GoCardless can help you:
Avoid the 8% credit card failure rate (and why it happens in the first place)
Recover payments, even after an insufficient funds notification
Sidestep critical Direct Debit infrastructure failings that happen when you start scaling
