Stripe has today announced it has worked with Bacs Direct Debits to make the payment method available online, alongside card payments and digital wallets.
Users can build Direct Debits into their payment flows, or use Stripe Checkout to skip the lengthy approval process of building their own Direct Debits payment form.
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Matt Henderson, Stripe’s EMEA Business Lead, said: “Bacs is something of a heritage brand. We all recognise the paper forms you fill out to set up the mandate. It’s rightly trusted, but can feel a bit old fashioned. We’re pleased to be able to bring Bacs Direct Debits completely online alongside newer payment methods like Apple Pay.”
“Recurring revenue businesses are going to play an important role in the global economic recovery. We want to make sure Stripe can help these businesses protect and grow their revenues. The ability to collect Bacs payments will help increase conversion, reduce cost, and minimise churn.”
Businesses using Stripe and Bacs Direct Debits
Through the platform, businesses can also customise their Direct Debits integration by putting their own brand on payment pages, statements and emails to customers.
Crowdfunding platform Chuffed has plans to use Stripe to enable Bacs Direct Debits for recurring donations online.
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By GlobalData“Recurring payments are particularly important for charitable causes that need to turn moments of emotional connection into long-term sustained change,” said Prashan Paramanathan, Chuffed CEO. “Now that charities can collect Direct Debits online alongside card payments, they generate more long-term funding for their causes.”
In addition, start-up Samsara has used Direct Debits to accept recurring payments from businesses and consumers.
Chloe Hill, VP Finance at Samsara, said: “Stripe’s Bacs product allows us to operate globally. It also allows us to provide customers in the UK with a secure and trusted payment method. Developer-friendly documentation and great support made the rollout quick and easy.”
