GoCardless Launches White-Label Product Enabling Bank-to-Bank Payments

GoCardless has launched a solution that enables third-party payment providers to allow bank-to-bank payments.

The new GoCardless Embed is a white-label product that integrates the firm’s global bank payment network into payment providers’ platforms while enabling them to keep control of the customer experience, GoCardless said in a Wednesday (Feb. 8) press release.

The GoCardless network brings together disparate payment systems and optimizes bank payments, GoCardless Co-Founder and CEO Hiroki Takeuchi said in the release.

“Now, for the first time, we’ve created a product to open up access to our unique network and we’re excited by the positive reactions so far,” Takeuchi said.

PYMNTS research has found that consumers are experimenting with account-to-account (A2A) payment solutions such as peer-to-peer (P2P) apps and mobile wallets that allow them to send or receive funds directly from their bank accounts and that their adoption of these payment methods has been steadily expanding for years.

Merchants must keep pace with this trend as consumer payment preferences and needs continue to shift, according to the “Next-Gen Debit Tracker,” a PYMNTS and PULSE collaboration.

The report also found that the expanding adoption of A2A solutions has led payment providers to consider uses for such tools outside of retail and consumer payments, such as enabling the direct deposit of gig workers’ paychecks into their mobile wallets.

The GoCardless integration is delivered via an application programming interface (API) that provides access to bank payment systems in the United Kingdom, Eurozone and United States, enables end-to-end payment processing capabilities, and delivers account verification and fraud prevention, according to the press release.

In the U.K., the API also allows instant one-off and recurring payments and other features powered by open banking, the release said.

“It’s a fast and easy way for third-party payment providers to increase revenue through expanding the range of payment methods they offer, keeping their merchants in-platform,” GoCardless said in the release.

This announcement comes a year after GoCardless raised $312 million in a Series G funding round and said it would use the capital to “accelerate its growing footprint in the open banking space through both product and geographical expansion.”