B2B Payments

Accuity To Power GoCardless’ Recurring Payments Expansion Into US

Global FinTech GoCardless entered into a collaboration with payments firm Accuity to launch a seamless way for businesses to collect payments in the U.S., the companies announced in a joint press release on Monday (Dec. 9). Using Accuity’s comprehensive ABA routing number information and its Bankers Almanac for Payments data solution, U.K.-based GoCardless can give U.S. businesses an automated clearing house (ACH)-based debit offering.

Paul Foster, head of banking and scheme development at GoCardless, said the company had many customers wanting to collect from the U.S., “so it was necessary to have the most accurate ABA routing number information available, and in a way that can be easily integrated into our payments processes.” 

He added that Accuity data offers exactly what GoCardless needs to carry that out. As the company continues its expansion, “we need reliable partners that can help facilitate our journey,” he said. 

GoCardless built the first global debit program, and has 50,000 customers worldwide, completing over $13 billion in transactions annually. Accuity has been the Official Registrar of ABA routing numbers since 1911, proactively updating clients when newly issued ABA routing numbers are released, which means it always possesses the most accurate ABA payment routing data available. 

“Our Bankers Almanac for Payments portfolio provides assurance that worldwide payments will go through seamlessly, helping to avoid customer dissatisfaction, and costs from rejected payments,” said David White, EVP of global payments at Accuity. He added that, via its collaboration with GoCardless, “we can help support its business growth, and ensure a seamless customer journey.” 

ACH processed nearly 23 billion payments in the U.S. last year, an increase of 6.9 percent over 2017. GoCardless relies on the Bankers Almanac ABA routing numbers file to simplify the payments process, reduce risk, and enhance its supplier and vendor relationships by ensuring accurate payments.

GoCardless opened a San Francisco office, and announced its expansion into the U.S. market in September through the delivery of an ACH-based debit offering for businesses. The company brought ACH debit acceptance to a merchant base, spanning more than 45,000 firms globally, and now collecting from customers across North America, including Canada.

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NEW PYMNTS STUDY: ACCELERATING THE REAL-TIME PAYMENTS DEMAND CURVE – NOVEMBER 2020

About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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