GoCardless – enabling ecommerce for SMBs
For a lot of smaller companies in search of an ecommerce offering, setting up online payment was a tricky business. Setting up Direct Debit was costly and complicated to set up, putting it out of the price range of SMBs and with a process too time-consuming for the majority of busy companies whose priority was generating sales.
With a growing number of SMBs selling exclusively online, an easy and cost-effective solution to the problem of Direct Debit charges is long overdue. Now, a new start-up has offered an alternative for SMBs who are priced out of the Direct Debit market; GoCardless has no set-up fees, no monthly minimums and no hidden charges, and could be the answer to the prayers of commerce-based SMBs.
Founded in 2010 by three Oxford graduates, and launched publically earlier this month, the platform was designed to close the gap in the market, and to allow SMBs from all industries to utilise online payments quickly and simply. Existing interbank transfer systems such as those found on retail sites are built to spec by developers, with charges negotiated with each separate bank operating through it. The team at GoCardless have already done the negotiations with the major banks, so the new application can be integrated, fully functioning, into the company’s website, via a REST API. And with the maximum transaction fee set at 1%, up to a maximum of £2, it’s perfect for cash-sensitive smaller companies. It’s got advantages for consumers, too – allowing them to authorise future payments once their account is set up, via a central dashboard where they can view all their accounts, payments and balances.
Put simply, GoCardless allows SMBs to ride the swelling wave of ecommerce simply and quickly, allowing them to focus on providing a great product or offering while the complicated payments process is taken care of.
What do you think of GoCardless’ offering? Will you be using it, and do you think that the future of commerce is online? Let us know in the comments!
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I have a few concerns, it takes far to long for the money to hit my account, it doesn’t handle card payments and the interface can be a little tricky. Im also a little concerned about the lack of track record when it comes to something as sensitive as customer payment details.
I’ve heard a lot about the tremendous benefits of a custom eCommerce and shopping cart solution? Is it really that necessary?