The UK-based fintech company GoCardless has announced a partnership with YayPay which is an Accounts Receivable (AR) automation solutions company. In this partnership, YayPay will integrate GoCardless’s network with its AR offering which will provide direct debit payments to its customers in North America and Europe.
With this move, YayPay customers will get paid faster cross-border payments, improve cash flow and reduce payment costs, according to the press release.
“By partnering with GoCardless and offering bank debit, we are empowering them to do this, while also addressing the payment options we make available to our own rapidly expanding list of customers worldwide,” said Anthony Venus, CEO of YayPay. “The GoCardless payment network is the ideal solution for addressing the international aspirations of our customers”.
With this partnership, YayPay has joined the ranks of US businesses looking for boost international growth through bank debit, the press release said. The survey done by GoCardless showed that 70% of businesses are looking to boost international payments while 58% mentioned that cross-border payment are too complex which delays their progress.
“YayPay is a rapidly-growing business at the forefront of back-office automation and machine learning, and we are thrilled to be partnering with them to integrate the GoCardless network into their payment options,” said Andrew “AG” Gilboy, General Manager, North America, at GoCardless.