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GoCardless partners with TransferWise to bring low cost currency conversion to recurring payments

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GoCardless, the London fintech that makes it easy for businesses to offer recurring bank payments, has partnered with TransferWise for its currency exchange.

The move sees GoCardless utilise the TransferWise API and the money transfer company’s “TransferWise for Business” product and in turn provide TransferWise’s FX rates to its own customers.

More broadly, the partnership furthers GoCardless’ mission to become a one-stop-shop globally for businesses that want to let customers pay via recurring bank payments, known as Direct Debits in the U.K.

It also chalks up another win for TransferWise, which has always wanted to power currency exchange for other financial service providers and not just its own app, but has sometimes struggled with this aspect of its platform play. Along with GoCardless, TransferWise has partnered with the U.K.’s Monzo, Germany’s N26, Estonia’s LHV and BPCE Groupe, France’s second largest bank.

To date, GoCardless is used by more than 50,000 businesses worldwide, spanning multinational corporations to SMBs. GoCardless says it processes $13 billion of payments across more than 30 countries each. Along with its U.K. HQ, the company has offices in France, Australia, Germany and (most recently) the U.S.

“By integrating directly to the TransferWise API, businesses can

https://contacted.org/2019/11/gocardless-partners-with-transferwise-to-bring-low-cost-currency-conversion-to-recurring-payments/

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