Ecommpay, an International Payment Service Provider and UK and Europe Direct Bank Card Acquirer, has rolled out Direct Debit payments for businesses operating in the UK and EU. This strategic initiative, undertaken in collaboration with GoCardless, a bank payment company, is poised to expand Ecommpay's market reach by an estimated 44%, all while preserving existing payment methods.

Direct Debit as Predominant Payment Choice

Direct Debit has witnessed a remarkable surge in popularity among consumers, emerging as a trusted and widely used payment option in the UK. Recent data indicates that a staggering 80% of Britons rely on Direct Debit for their routine expenditure. Furthermore, insights gleaned from a survey conducted by Ecommpay at the close of 2023 underscore the prevalence of subscription-based services among UK consumers, with 54% embracing such services during the pandemic and a significant portion continuing to do so post-pandemic.

Arthur Ribakovs, the Head of Financial Partnerships at Ecommpay, said: “The addition of Direct Debit capabilities further expands Ecommpay’s already extensive portfolio, including global card acquiring, Open Banking: Advanced, and 100+ local payment methods via a single integration. With a full-stack proprietary ecosystem that ensures 99.999% uptime and around-the-clock business and IT support, Ecommpay is not only strengthening its presence in the UK and Europe, but continues to improve its offering for FinTech and e-commerce merchants."

In light of evolving consumer payment preferences and the pressing need for businesses to address challenges such as fraud prevention and cart abandonment rates, Ecommpay has responded proactively by introducing Direct Debit payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term.

Ecommpay has launched Direct Debit payments across BACS and SEPA through GoCardless Embed, our white-labelled solution for payment service providers.

Find out more about the news here: https://t.co/KY8hSd8VLE#payments #news @ECOMMPAYglobal pic.twitter.com/O9iFoKBsMW

— GoCardless (@GoCardless) April 3, 2024

Improved Payment Security and Acceptance for Ecommpay Merchants

The collaboration with GoCardless empowers Ecommpay's merchants to offer subscription-based payment solutions across the UK and Europe. Notably, this strategic alliance promises improved acceptance rates and heightened security against fraudulent activities, owing to the inherent reliability of bank payments.

Ecommpay's status as a Principal Member of Visa and Mastercard, coupled with its certifications as a Mastercard MoneySend and Visa Direct partner, underscores its robust credentials in the payments domain. With a diverse payment service portfolio and a global footprint spanning 70 countries and 40 currencies, Ecommpay focuses on facilitating swift, flexible, and secure transactions for businesses and consumers alike.