Airwallex, a leading worldwide payments and finance platform for contemporary enterprises, has teamed up with GoCardless to strengthen its direct lending program.

Now that its GoCardless relationship has been established, Airwallex is able to provide direct debit financing to its clients in a number of important regions.

Airwallex: Leveraging GoCardless Embed

Airwallex now links to GoCardless' worldwide bank payment network by utilizing GoCardless Embed, a white-label interface. This helps Airwallex clients grow into new sectors and use cases where direct debit is desired.

The new integration from Airwallex has already been released in the UK, and the service will soon be available throughout Europe.

This is Airwallex's most recent announcement in line with its mission to assist companies of all sizes in reaching their goals for international expansion.

"Businesses of all sizes are looking at how they can adapt to evolving customer needs—and payments are no exception," states Justin Leung, Financial Partnerships Manager at Airwallex.

In light of the growing popularity of subscription economies and the fact that direct debit remains a reliable payment method, we thought it would be ideal to fortify our own offering to enable our clients to better serve their own.

"We were able to quickly provide this option through one simple integration by working with GoCardless."

The GoCardless Embed Director of Product Management, Deepak Colluru, continues, saying, "We're thrilled to collaborate with Airwallex to deliver the best of direct debit to its clients. They have fewer middlemen, are less expensive than cards, and are frequently also more dependable due to the lack of expiration dates and missing payment information.

We benefit mutually from our partnership with Airwallex. We're pleased to expand their bank payment option by using Embed, which will enable them to quickly have access to a worldwide network and connect thousands of new merchants via their platform.

PSP innovation vital

The GoCardless research, which indicates that payment service providers (PSPs) should keep innovating to stay competitive and increase client retention rates, is the basis for Airwallex's relationship with GoCardless.

When asked what they would want to see from their PSP, merchants indicated that having more options for payments was the top priority in today's digital age. In addition, 35% of firms questioned said they would be ready to pay extra for a PSP that offered a greater variety of payment methods, and 27% said they would prefer a PSP that offered Open Banking and other bank payment choices in addition to direct debit.

The announcement earlier in 2024 that Airwallex had become the official partner of the McLaren Racing Formula 1 team preceded the company's agreement with GoCardless. As per the agreement, Airwallex provides assistance for McLaren's international financial operations, encompassing settlement product suite, cross-border payments, and treasury management.

Additionally, GoCardless has been growing its alliances throughout the financial services industry. Most recently, it launched applications in the US and Australia as part of an expansion of its cooperation with Intuit QuickBooks.