How do we enable borderless payments?
Hey everyone, it's Janice here again. Continuing this series, we are trying to answer some of the most frequently asked questions that we get from our customers on the topic of Borderless Payments.
In the above video, we have Ben Morfoot, Group Product Manager, answering our next question in this series:
How do you enable borderless payments?
How can a GoCardless customer enable borderless payments within their account?
And how can they start collecting or creating international mandates and payments cross-border wise?
The vast majority of GoCardless customers should already have it. We are gradually rolling this out across all of our existing merchant base with the intention that almost everybody will just have it.
If you don't have it (see below: How can I check if I have borderless payments enabled?), get in touch with support and they can give you more details on how you can get access or when you'll be having it rolled out.
What date did new GoCardless customers get borderless payments enabled automatically?
19 November 2019. If you signed up for a GoCardless account from this date or later, you'll have had borderless payments enabled from the moment you signed up.
How can I check if I have borderless payments enabled?
Log into into the GoCardless dashboard, and on the homepage you'll see your home currency there. If you've got borderless payments enabled, you'll see a little symbol of a house. That indicates your home currency but as soon as you start collecting other currencies, you'll see them appear there.
If you don't have that, you don't yet have access.
Why doesn't everyone have borderless payments enabled?
There's a range of reasons around compliance or other bits and bobs that we haven't been able to roll it out to everybody straight away.
How can I start using borderless payments?
It's really easy. It's exactly the same as the way you create a domestic payment.
If you go to the GoCardless dashboard homepage, there's an add new button. Click that and add a new customer - if this customer is located out of your domestic geography, they'll automatically be asked to set up a mandate in the currency that's relevant to them. And using the banking network that's relevant to them.
It just works. They won't see the difference either.
Then when you want to create a payment for that customer, it will automatically prompt you to create the payment in the correct currency for them, so you can create it as normal. The only difference is when it is paid out to you, it lands in your home currency.
We have more questions that we're going to be answering in future videos. Stay tuned here, and follow us on LinkedIn for updates.