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CompanyProfile

Reduce churn, boost

margins with global

platform

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oCardless was founded in 2011 by Hiroki
Takeuchi, Matt Robinson and Tom Blomfield, Linda Yang,
first-time entrepreneurs who wanted to Head of Public Relations
G improve the payments experience. The team
set out to take the pain out of getting paid to enable busi- lyang@gocardless.com
nesses to focus on what they do best, company represen-
tatives stated. The initial objective was improving the way +447533575155
that companies collect recurring payments.
https://gocardless.com/en-us
Today, more than 500 people work at GoCardless offices
in London, Paris, Munich, Melbourne, San Francisco Near-term product roadmap
and New York City. Hiroki Takeuchi, chief executive
officer and co-founder, leads a team of general managers Takeuchi noted that while the GoCardless platform
with territories in the United Kingdom, France, DACH is the company's sole product, it is continually up-
(Germany, Austria, Switzerland) and ANZ (Australia and dated, most recently with a new feature, Success+;
New Zealand). launched in 2020, it helps businesses tackle problems
caused by failed payments. "Success+ uses machine
"GoCardless is unique in that we focus on recurring learning to [analyze] trends from GoCardless' recur-
payments, or those often associated with subscriptions, ring payments data and identify the ideal time to re-
invoices and installments," Takeuchi said. "We believe try a failed payment," Takeuchi said. "It automatically
bank-to-bank payments are the best way to collect recur- schedules payment retries – within the parameters set
ring payments and have used bank debit, or ACH debit, by the merchant – on the optimal day for each payer."
as it's known in the United States, to help our 60,000-plus
merchants worldwide take payments." Plans on the company's near-term road map include
launching an open banking payment feature within the
Leveraging payment rails GoCardless platform that improves visibility and speed

Takeuchi further noted that ACH debit, like other bank by enabling merchants to access recurring payments and
debit systems, is a pull-based payment mechanism re- instant open banking payments, Takeuchi stated. He add-
quiring payers to give merchants permission to pull funds ed that the new feature will expand the GoCardless of-
from their accounts when payments are due. Automating fering into the adjacent ecommerce market, challenging
the payments process, unlike push-based payments such incumbent methods for one-off and card-on-file transac-
as cash and check, takes the onus off the payer, improving tions.
the likelihood that businesses will be paid, he explained. U.S. presence

And while bank debit has clear advantages, Takeuchi Acknowledging that open banking is a relatively new con-
pointed out that it is a legacy system that has not changed cept for U.S. consumers, Takeuchi expressed confidence
for decades. The GoCardless platform sits on top of bank that using this technology will improve efficiencies. For
debit "rails," making it a good fit for today's world by fa- example, he noted, payers can use open banking to make
cilitating instantaneous, accessible payments, which are an initial card payment and arrange for subsequent pay-
pre-integrated with over 150 platforms as part of a global ments via ACH debit. Furthermore, Takeuchi explained
bank debit network, he noted. that open banking will streamline subscriptions, utility
bills and health club memberships when customers get a
After launching an international payments platform with new credit/debit card, because with open banking, pay-
automatic FX settlement on the GoCardless platform, the ment details only change when consumers switch bank
company continued to grow and scale, serving over 60,000 accounts. Looking ahead, Takeuchi expects the United
customers and processing more than $20 billion in annual States to continue to be a key market for GoCardless.
revenues. Over a third of UK-based adults and more than
4 million individuals across 35 countries have paid via The company has signed numerous enterprise clients,
GoCardless, and businesses can collect payments from 30 including DocuSign, 8x8, TripAdvisor, Box, and Survey-
countries using the platform and a single bank account, Monkey, and is helping U.S. merchants reduce churn, op-
Takeuchi stated. timize payments and fight payment fraud, he stated.

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