FreeAgent and GoCardless: ‘game-changing’ payment solution gets even better

Over the last eight years, FreeAgent and GoCardless have teamed up to offer our users an integration that makes collecting payments as fast and convenient as possible. Today, we’re delighted to share that our users can now make the most of the full suite of GoCardless features. So, what’s new? 

“Instant Bank Pay is our first Open Banking payment solution. By allowing payments to be verified via a banking app, it saves businesses and their customers valuable time, while speeding up and simplifying the payment process,” says Andrew King, Principal Commercial Manager at FreeAgent. 

“Equally, Success+ will be a gamechanger by introducing intelligent failed payment retries,” he adds. “It addresses a key pain point for small businesses – ensuring their payments are successful. 

“Our goal is to provide our customers with the best tools that simplify their financial lives and by integrating these two products, we can do exactly that.”

Get paid in minutes with Instant Bank Pay

Instant Bank Pay is GoCardless’s Open Banking-powered payment solution. As a FreeAgent and GoCardless user, you can now offer your customers the option to skip manually entering bank details by verifying their payment via their banking app or online banking instead - making it easy to securely and instantly pay you. By using Instant Bank Pay to collect funds directly from your customers’ bank account, you can reduce late payments and keep your cashflow healthy. You’ll also avoid costly card fees - especially for higher-value, one-off invoices. 

If you’re already using FreeAgent and GoCardless, you can start using Instant Bank Pay as an alternative to the existing GoCardless Direct Debit functionality - meaning you can now take both one-off or recurring payments. This will allow you to create a flexible payment flow for different customers - from immediate ad-hoc payments, via Instant Bank Pay, to setting up recurring Direct Debits for repeat customers.

Skip the hassle of chasing failed payments with Success+ 

Success+ is GoCardless’s AI-driven tool that automates payment retries (when GoCardless attempts to collect a Direct Debit, but it fails and needs to try again). With this innovative new feature, GoCardless applies machine learning to data from the millions of transactions they process each year to intelligently identify the best time for payment retries. On average, GoCardless says, Success+ recovers two-thirds of failed payments for GoCardless users. “Success+ is automatically available to all FreeAgent users with the GoCardless integration setup, so there’s nothing left for you to do,” explains Andrew.

You can find out more about Instant Bank Pay and the GoCardless integration on our Knowledge Base.  

Did you know that you can also collect online debit and credit card payments using Tyl by NatWest, Stripe or PayPal? Find out more about how online payments can streamline getting paid.