With this solution, merchants can now manage account-to-account collections and payouts through a unified platform. This improvement aims to streamline operations, simplify reconciliation, and boost payment visibility. By integrating payouts into the GoCardless Payment Platform, businesses are expected to save time and resources that would otherwise be spent on costly setup, maintenance, and contractual processes.
Outbound Payments comes with built-in security features such as stored bank details reuse and Confirmation of Payee, which helps in verifying payee names before fund transfer. This not only minimizes manual errors but also reduces the risk of accidental or fraudulent transfers.
GoCardless acquired Nuapay to support large payout volumes, paving the way for this service’s integration. The acquisition supports GoCardless’ dedication to providing solutions tailored to its customers’ needs and preferences while reinforcing its position in the market.
According to GoCardless representatives, adding payouts allows the company to cater to more sectors and use cases. For instance, it simplifies claims processing for insurance firms and facilitates the disbursement of funds for lenders.
In a recent development, GoCardless partnered with Policy Expert, an insurance provider, to streamline pet insurance premium payments through Direct Debit options. This collaboration enables customers to pay their premiums monthly, automating payment collection processes and reducing administrative burdens on the insurer.
