Don’t choose between payment fraud prevention and customer experience.
Fraud comes at a high price, with 66% of businesses spending more than 10% of a lost payment’s value trying to recover it. But if you’re signing up potentially thousands of new customers every day, how do you know they are who they say they are without adding unnecessary friction to the checkout experience?
With Verified Mandates, you can now verify your customers and set up a new direct debit mandate at the same time. Powered by Open Banking, customers setting up new recurring payments will be connected to their mobile app or online banking login where they can instantly authenticate their bank details. We then send both you and your customer an immediate confirmation once the account is verified.
Benefits
Instant fraud prevention
A third of businesses take three days to catch fraudulent payments. Catch attempted fraud instantly.
Protect revenue
Stop fraud before it happens and have confidence in your payments, helping you to better predict cashflow.
Optimal customer experience
Provide a seamless checkout experience and verify new customers directly in the payment flow.
Save time and money
Manage fraud prevention and payments all in one place, reducing admin time and the number of tools used.
How Verified Mandates work
Verified Mandates sits directly in the GoCardless payment platform. In order to support this feature you will need to upgrade your integration to our latest, single billing_request API. This API supports all our existing and future products. More information here
New customers will complete the standard bank mandate form in your checkout flow.
Powered by Open Banking, customers will be directed to their bank account to verify their information.
With verification taken care of, your customer can complete their payment set-up. And you get instant notifications of every successful verification.
Use Verified Mandates for:
High-volume subscription businesses
When you’re adding hundreds or thousands of new customers every day, Verified Mandates helps you verify new customers at scale. Perfect if you offer a free trial for new customers.
High-value payments
If your subscriptions are particularly high value, Verified Mandates gives you peace of mind that your revenue is secure.
High-volume subscription businesses
When you’re adding hundreds or thousands of new customers every day, Verified Mandates helps you verify new customers at scale. Perfect if you offer a free trial for new customers.
High-value payments
If your subscriptions are particularly high value, Verified Mandates gives you peace of mind that your revenue is secure.
