Bank payment provider GoCardless has joined forces with Commusoft, a software provider for trade companies, to offer its customers Open Banking-powered payments.
It means that installation, maintenance and service businesses spanning industries including plumbing, fire and security, renewables and electrical, will be able to use GoCardless ‘Instant Bank Pay’ as an alternative to card payments.
Initially, the partnership sees Commusoft start with Instant Bank Pay for one-off payments, before expanding its relationship with GoCardless to include Direct Debit through GoCardless’ global bank payment network, meaning merchants will be able to collect both one-off and recurring payments directly through one provider.
Seb Hempstead, vice president of partnerships at GoCardless, said: “It’s great to see Commusoft adopt Instant Bank Pay to help their customers save money by moving away from expensive card payments.
“We’re excited to provide account-to-account payments directly on its platform, making it easy for trade companies to get paid in a faster, safer and more cost-effective way.”
Jason Morjaria, founder of Commusoft, added that the partnership enables it to offer trade companies “the convenience of instant payments without the high fees of other payment methods”.
“This means merchants can keep more of their hard-earned money, not to mention reduce the stress of chasing payments,” he said.
“Cutting costs is especially important in today’s economy, and we are proud to provide our customers more affordable payments through GoCardless.”
GoCardless recently extended its partnership with small business platform Xero, with the aim to help smaller businesses get paid more quickly.