London fintech helps merchants cut costs with new software provider partnership

GoCardless, the bank payment company, has partnered with Commusoft, a software provider for trade companies, to offer its customer base cost-effective payments via open banking.

Merchants in industries such as plumbing, fire and security, renewables and electrical will be able to use GoCardless’ Instant Bank Pay as a cheaper alternative to card payments. This will help them sidestep high card fees and keep a bigger cut of the money they earn on every job.

Customers will benefit from greater convenience and a better overall experience. By using Instant Bank Pay, they can pay their invoice with just a few clicks immediately after a job is completed. Conversely, tradespeople can avoid the nuisance of chasing late payments as more customers take advantage of this simple, instant way to pay.

Commusoft will start with Instant Bank Pay for one-off payments before expanding its relationship with GoCardless to include Direct Debit through GoCardless’ global bank payment network. This means merchants will be able to collect both one-off and recurring payments directly through one provider, all within the Commusoft platform.

Seb Hempstead, VP of partnerships at GoCardless, commented: “It’s great to see Commusoft adopt Instant Bank Pay to help their customers save money by moving away from expensive card payments.

“We’re excited to provide account-to-account payments directly on its platform, making it easy for trade companies to get paid in a faster, safer and more cost-effective way.”

Jason Morjaria, Commusoft founder, added: “By partnering with GoCardless, we can offer trade companies the convenience of instant payments without the high fees of other payment methods.

“This means merchants can keep more of their hard-earned money, not to mention reduce the stress of chasing payments. Cutting costs is especially important in today’s economy, and we are proud to provide our customers more affordable payments through GoCardless.”

By Matthew Neville – Senior Correspondent, Bdaily

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