Leading international Payment Service Provider and UK & Europe direct bank card acquirer Ecommpay has launched Direct Debit payments for UK and EU businesses in collaboration with bank payment company GoCardless. The strategic move allows Ecommpay to increase UK and EU market coverage by approximately 44% without cannibalising existing payment methods.
Direct Debit has seen a surge in popularity and consumer demand and is now one of the UK’s most popular and trusted ways to pay, with Direct Debit has seen a surge in popularity and consumer demand, with 80% of Brits having at least one to pay for their regular outgoings. According to a survey conducted by Ecommpay at the end of 2023, 54% of UK consumers used subscriptions during the pandemic, with 42% continuing to do so and 14% even increasing their usage. UK consumers have on average 1.6 active subscriptions, with 32% using one regularly and 30% using two.
In addition to evolving consumer payment preferences, businesses face challenges such as fraud prevention and reducing checkout abandonment rates. Recognising existing barriers and shifting end-consumer payment trends, Ecommpay has introduced Direct Debit payments as a proactive response.
The strategic partnership with GoCardless opens access for Ecommpay merchants to offer subscription-based payments across the UK and Europe, with improved acceptance rates and the security against fraud that comes with bank payments.
Head of Financial Partnerships, Arthur Ribakovs said:
“The addition of Direct Debit capabilities further expands Ecommpay’s already extensive portfolio, including global card acquiring, Open Banking: Advanced, and 100+ local payment methods via a single integration. With a full-stack proprietary ecosystem that ensures 99.999% uptime and around-the-clock business and IT support, Ecommpay is not only strengthening its presence in the UK and Europe, but continues to improve its offering for FinTech and e-commerce merchants.
Deepak Colluru, Director of Product Management for GoCardless Embed, said:
“We're extremely proud to help Ecommpay launch its Direct Debit offering, enabling its customers to tap into a payment option that is seamless, secure and highly preferred. Ecommpay's speed to market is testament to the simple 'plug-and-play' nature of GoCardless Embed, allowing payment service providers to access a global bank payment network in a matter of weeks. We look forward to helping millions of businesses realise the benefits of bank payments, from reducing costs, fraud and manual admin to increasing cash flow and conversion.
Ecommpay is a Payment Service Provider, Principal Member of Visa and Mastercard, and a Mastercard MoneySend and Visa Direct certified partner. The company’s diverse payment service portfolio and global coverage enables it to support fast and flexible payments, as well as individual and mass payouts, in 70 countries and 40 currencies.
Ecommpay is committed to partnering with businesses to offer a comprehensive arsenal of tools, each tailored to the needs of individual e-commerce merchants to enhance their success in the dynamic world of e-commerce.
