Thursday, 27 September 2018 11:28

UK fintech GoCardless opens Melbourne office

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UK fintech GoCardless opens Melbourne office Pixabay

After processing payments in Australia for the better part of the year, British fintech firm GoCardless has opened an office in Melbourne, aiming to offer local businesses what it claims is a better way to collect recurring payments.

A statement from the company said it was already serving the needs of more than 35,000 small businesses in the UK, the Eurozone and Nordic nations.

GoCardless will look to gain clients from among the two million small businesses to improve cash flow and reduce the amount of time spent on administrative tasks.

Technology available from the firm allows the setting of automatic payment collection dates and reconciling payments from within applications like Xero.

The company's APIs can integrate with subscription software like Chargebee and Zuora to permit bigger businesses to collect subscription payments from users' bank accounts, reducing the failure rate to as little as 0.05%.

GoCardless founder and chief executive Hiroki Takeuchi said: “We are thrilled to be setting up operations in Australia. It is exciting to be able to offer Australian businesses a better way to take recurring payments and to be joining a thriving and innovative fintech community.

GoCardless’ Australia country lead Joseph Robins said: “Small and medium businesses in Australia are time poor. They want to be focusing on growing their businesses, not grappling with administrative tasks. GoCardless’ platform makes it easy to collect Direct Debit payments, giving them certainty about cash flow and taking the stress out of managing their finances.

“With GoCardless, Australian businesses big and small won’t be hit with a setup cost, hidden fees or a contract. The risk of payment failure is also removed, so businesses can avoid involuntary churn from failed card payments such as lost cards.

GoCardless was hiring for local positions and hoped to triple in-country staff numbers by next year as part of its commitment to this market, he added.

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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