4 businesses investing in ACH Pull payments
3 min read
Take a look at how 4 businesses are using ACH Pull to save time and money
Big and small businesses are investing in ACH Pull to help them grow.
We’re going to look at 4 different businesses that have invested in ACH Pull payments to help solve unique business challenges, grow their businesses and launch new products.
Fast-growing FinTech Deel has taken the world of work global by enabling friction-free hiring of contractors or employees from anywhere in the world. Customers pay into its platform in a single currency and Deel takes care of the rest by compliantly paying out all their employees and contractors in line with any local employment laws and tax regulations.
“Prompt and error-free payment into the platform is vital to guaranteeing people are paid on time,” said Courtney Chin, Director of FinTech Ops. “GoCardless enables customers to authorize us to pull money from their accounts, so we can schedule payments at the optimum time.”
This is a markedly better experience compared to other payment channels, such as customer-initiated bank transfers.
“When doing some 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. With GoCardless, cash flow is more predictable too. Less late payments mean we don’t have to fill the gaps which is enabling us to invest our time and money in our continued global growth."
Read the Deel story
Diaper service and baby boutique, Diaper Stork, delivers cloth diapers and related items straight to customers' doors, providing an eco-conscious alternative to disposable diapers.
As a small business, they needed to free up as many hours and as much money as possible.
“As a small business owner, I wear a lot of hats. Anything that frees up time for me to focus on higher-level strategy rather than transactional tasks is a huge help.”
Carrie Pollack, CEO, Diaper Stork
Their manual payments process was an area ripe for optimization. They were paying 3% for their card transactions and reconciling payments manually. Moving to an automated payment method like ACH Pull with GoCardless would reduce costs and resources spent on collecting payments. The company is now paying 2% less per transaction and saving 2-3 hours per month on reconciliation.
“Paying with a low-cost method like ACH Pull really makes a big difference for small businesses,” said Carrie. “It allows us to reduce costs, and, as a result, more money stays in the local economy.”
Read the full Diaper Stork story
PremierePC Technology Group is a managed IT service provider based in South Carolina, providing network support, help desk, phone, cybersecurity, and Office 365 services.
“We are essentially our customers’ outsourced IT consultant,” said Matthew Rydzfski, Managing Partner, PremierePC. “Each month, we charge a whole bunch of fees for various services that are bundled up and billed to clients monthly.”
Historically, the vast majority of customers paid by credit card. However, increasingly tired of the fees associated with credit cards, Matthew had considered switching all customers to cash or check. This would enable him to maximize the proportion of income that could be invested in the business and staff without raising prices.
But then he discovered GoCardless, an automated platform that uses the ACH Pull payment system to collect monthly payments faster than credit cards, and at a lower cost.
“I happened to use a product that had a payment gateway established for GoCardless,” said Matthew.
I went on the GoCardless website and thought, ‘Wow, these fees are fantastic. This would reduce our fee structure by over 85%.”
Read their full story
Canada’s oxio is a disruptive start-up providing domestic internet, TV, and phone services to customers across Quebec, Ontario, British Columbia, and Alberta.
With GoCardless, oxio found a payments system completely aligned to its philosophy of transparency and responsiveness, and one that leverages automation to make customers’ lives easier.
“Our research led us to GoCardless, whose online materials were super clear, both about the benefits of bank debit payments and the inner workings of the solution,” said Antoine Lord, Product Manager. “The solution offered all the automation features we needed and was already pre-integrated with our OSS/BSS system. We were sold pretty quickly.”
“GoCardless payments cost around 25% less per transaction than credit cards,” said Antoine.
We have 30,000 customers paying monthly, so the more customers we can move over to GoCardless the better, and we certainly want to maximize that in the coming years.”
Find out more about oxio’s storyrdless.com/en-us/stories/oxio/