Cloud accounting provider iplicit has launched a new product update, integrating Direct Debit functionality from GoCardless, a global fintech specialising in bank-to-bank payments. This gives iplicit users access to automated, low-cost payment collection directly within the platform.
The integration enables organisations to manage recurring and one-off payments through a built-in interface, with features including automatic scheduling, reconciliation and payment tracking.
By combining Direct Debit with the previously launched Instant Bank Pay, iplicit now offers a single platform for handling both types of bank payments, helping users streamline financial operations and reduce manual admin.
iplicit designed its cloud-native platform for businesses that have outgrown basic entry-level systems or become frustrated with legacy on-premises software. It aims to deliver the advanced functionality and performance of upmarket systems at a fraction of the cost and complexity.
Features include automated scheduling, payment collection and reconciliation, online setup via customisable forms, as well as tracking tools that help reduce failed payments. As a pull-based, bank-to-bank method, Direct Debit enables merchants to initiate payments with a customer mandate, avoiding card networks and their associated fees.
The partnership
Paul Sparkes, chief product officer at iplicit, said: “At iplicit, we prioritise listening to the needs of our midmarket customers to continually refine our product and identify ways of improving their day-to-day financial admin and cashflow.
“Our ongoing partnership with GoCardless, a leader in the payments space, allows us to offer exactly what these customers need, which is a straightforward, seamless, and reliable solution for automating and collecting Direct Debit payments.
“This eliminates the inefficiencies and errors common with manual payment collection and chasing of failed or missed payments. Merchants using iplicit can now enjoy reliable cashflow and added confidence when managing their recurring payments.”
Tom Metcalfe, director, UK&I partnerships at GoCardless, also commented: “We’re excited to follow our successful introduction of Instant Bank Pay with this Direct Debit integration. iplicit customers now have an all-in-one solution for recurring and one-off payments, directly within a platform they know and trust. This will help them get paid on time, save time and money, and win and retain more customers.”
The post iplicit and GoCardless Expand Partnership with Direct Debit Integration appeared first on The Fintech Times.
