GoCardless (Merchants accepting non-recurring payments with Open Banking)

GoCardless (Merchants accepting non-recurring payments with Open Banking)
Use Case
Description

GoCardless has used Open Banking’s Payment Initiation Services (PIS) feature to expand its product suite, by enabling bank to bank payments for merchants accepting non-recurring payments (previously, GoCardless had specialised in recurring payments).

Open Banking improves its direct debit payment acceptance product, which suffers from slower payment authorisation (Open Banking payments have instant confirmation of payment authorisation).

Phase
Live
Industry
Payments
Niche
Recurring payments