GoCardless launches US debit payments solution and opens San Francisco office
GoCardless, the London fintech that aims to become the one-stop shop globally for businesses that want to let customers pay via recurring bank payments, has launched a U.S. debit solution.
The company has also opened an office across the pond in San Francisco’s financial district, headed up by Andrew Gilboy, general manager, North America, who was previously the company’s chief revenue officer.
Specifically, GoCardless’ new U.S. product supports debit payments on the ACH (Automated Clearing House) network. This means that businesses can use the GoCardless platform to offer U.S. consumers the option to pay by recurring bank payments, as an alternative to a credit card, for example. Likewise, companies can use GoCardless for debit payments for B2B transactions, such as relating to SaaS subscriptions, invoices or installments.
It is the B2B use case where GoCardless thinks there is the biggest opportunity for recurring payments, since, unlike in the U.K., for example, the biggest competitor would be writing cheques. That’s costly and slow by 2019 standards and doesn’t provide anything like the visibility that direct debits and ACH affords.
“By using the ACH debit network on the GoCardless platform, merchants can pull payments directly from their customers’ bank accounts, at
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