Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

GoCardless Goes Global Through Xero To Help More Small Businesses Say Goodbye To Late Payments

– The new ‘GoCardless for Xero’ payment solution launches in Australia as Xero’s app ecosystem helps more companies expand to new markets –

GoCardless, the UK-based online payments service today announced that it has launched internationally with the help of Xero, the global small business platform and its app-ecosystem.

From today, GoCardless’ integration with Xero will allow small businesses in Australia to automate their payment collection and reconciliation via Direct Debit, improving cash flow and reducing administration for businesses around the world. GoCardless integrated with Xero 18 months ago in the UK and has been a catalyst for its launch in Australia following improvements in cash flow for Xero small businesses in the UK.

British-born business GoCardless was built to become the best system for taking recurring payments and now processes £3 billion worth of transactions for over 30,000 organisations across the UK and Europe. The technology aims to fight the late payment epidemic, seen through Xero’s Small Business Insights data which revealed that UK small businesses were paid in 40 days on average for invoices with 30-day payment terms over the last year.

By using Xero’s GoCardless integration, small businesses can collect payments automatically as soon as they are due avoiding those uncomfortable conversations chasing up their overdue invoices. This in turn makes it much easier to accurately forecast cash flow as business owners know when their invoices will be paid. In the UK, 80% of Xero small businesses surveyed have seen reductions in payment times and improvements in cash flow as a result of taking payments through GoCardless.

The integration provides a seamless set up experience, connecting a user’s GoCardless and Xero account with no additional configuration required. Once the simple set up is complete and customers have signed up, payments are automatically collected and marked as paid within the Xero account, saving hours of admin time and ensuring accurate data within the accounting platform.

Edward Berks, EMEA Director, Fintech & Ecosystem at Xero , Xero UK, said: “The success of GoCardless’ integration with Xero has been proved by the faster payments and cash flow improvements our UK customers have reported. More payment options mean we are levelling the playing field for small businesses, and the expansion of GoCardless to Australia shows how our app marketplace can help innovative tech companies to boost their growth across the world, improving effectiveness and efficiency for businesses everywhere.”

Hiroki Takeuchi, Founder and CEO, GoCardless, said: “GoCardless is democratising Direct Debit for small businesses. We have modernised the process with innovative technology partners such as Xero and removed the stress and complexity. We’re delighted to extend our existing successful partnership beyond the UK and help small businesses take control of payments to ensure they get paid on time, every time.”