GoCardless and YayPay Form Partnership to Address YayPay's Growing Global Customer Base

Integration of GoCardless' network will enable YayPay customers the flexibility of collecting recurring payments through bank debit

SAN FRANCISCO, June 2, 2020 /PRNewswire/ -- GoCardless, the leading fintech for recurring payments, today announced a strategic partnership with YayPay, a leading predictive accounts receivable (AR) automation solution. This wide-ranging partnership will see YayPay integrate GoCardless's global network with its AR offerings to provide direct debit payments to its expanding base of customers in North America and Europe.

By offering bank debit as a payment option, YayPay will help its customers to get paid faster, improve cash flow, and significantly reduce payment costs. YayPay joins a growing number of SaaS-based businesses choosing GoCardless to power global payments.

YayPay is among many U.S. businesses looking to increase international growth through the use of bank debit. Research conducted by GoCardless and YouGov indicates that while 69% of U.S. businesses collect international payments, and 72% of them have ambitions to increase their international growth over the next five years, 58% of them believe the complexity of cross-border payments is holding them back from this expansion.

"A growing number of our customers are seeking ways to expand their global reach by collecting invoice payments from customers in other parts of the world," said Anthony Venus, CEO & Co-founder, YayPay. "By partnering with GoCardless and offering bank debit, we are empowering them to do this, while also addressing the payment options we make available to our own rapidly expanding list of customers worldwide. The GoCardless payment network is the ideal solution for addressing the international aspirations of our customers."

Kevin Permenter, Research Manager at the International Data Corporation (IDC) said, "YayPay has continually leveraged innovation to increase their market presence in the accounts receivable software market. This partnership between YayPay and GoCardless is a further step in realizing the internationalization and expanding the global reach of YayPay's customer base."

"YayPay is a rapidly-growing business at the forefront of back-office automation and machine learning, and we are thrilled to be partnering with them to integrate the GoCardless network into their payment options," said Andrew "AG" Gilboy, General Manager, North America, at GoCardless. "This partnership will expand the payment options offered through YayPay's AR solutions and allow YayPay's customers to operate in a way that's truly borderless."

About YayPay

YayPay is an accounts receivable software that simplifies the collections process and improves the invoicing experience by providing real-time visibility into the AR pipeline. Our solution leverages machine learning and automatic payment communications to accelerate collections, eliminate and streamline the manual effort associated with following up on late invoices, and report on KPIs. YayPay integrates with multiple accounting, ERP, billing, and CRM applications, for a complete look into the AR process, from collections to cash application. For more information visit https://www.yaypay.com.

About GoCardless

GoCardless is a global leader in recurring payments. Our global payments network and technology platform takes the pain out of getting paid for more than 50,000 businesses worldwide, from multinational corporations to SMBs. Each year GoCardless processes US $15 billion of payments across more than 30 countries. We now have five offices around the world in the UK, France, Australia, Germany, and the United States. For further information, please visit https://gocardless.com/en-us/ and follow us on Twitter @GoCardless.

Media contacts:

Devonne Spence
GoCardless Headquarters (UK)
[e-mail]

Peter Gorman
Black Rocket Consulting for GoCardless (U.S.)
[phone]
[e-mail]

Lawrence Chiu
YayPay Inc. (U.S.)
[e-mail]

James Isola
Maitland/AMO for YayPay Inc. (UK)
[e-mail]