Wed, Oct 16 2024

GoCardless has been authorized by Crown Commercial Services as an open banking payment option.

March 13, 2024
2 Min Reads

The Crown Commercial Service (CCS) Open Banking Dynamic Purchasing System (DPS) framework, which serves as the "one-stop-shop" for all open banking services for the public sector, has listed bank payment firm GoCardless as a supplier.

As a result, GoCardless will be qualified to respond to requests for tenders from any UK public sector organization that makes use of the DPS for account information services (AIS) and payment initiation services (PIS). These include departments of the central government as well as larger public sector entities like municipal governments, educational institutions, and nonprofit and charity organizations.

By joining the DPS, GoCardless will be able to expand its presence in the charitable sector, where it already provides services to well-known brands like JustGiving and Comic Relief, and open up new strategic prospects in government. Over the next eight years, CCS projects that the DPS will produce a sales funnel valued as much as £800 million.

 

The announcement represents the most recent open banking achievement for GoCardless, which earlier this year was chosen to be JustGiving's open banking payment supplier. Among others, Plend, an ethical lender, and Yonder, a credit card company, chose GoCardless for Variable Recurring Payments (VRP) in 2023.

GoCardless's Chief Customer Officer and Managing Director for UK and Ireland, Pat Phelan, stated: "Open banking and GoCardless go hand in hand." We have always been innovators in this field, having taken on the first VRP transaction in 2018 and now standing up for our clients in industry and regulatory working groups. It would be logical to move on to joining the initial cohort of open banking providers on the DPS.

 

"We are thrilled about the chance to continue being the go-to supplier in the charity sector and to offer the advantages of open banking to millions of businesses and consumers utilizing government services."

When acquiring common goods and services, the Crown Commercial Service assists the public sector in obtaining the greatest possible commercial value. CCS assisted the public sector in achieving £2.8 billion in commercial gains in 2021–2022, enabling top-notch public services that provide the best value for tax payers.

Leave a Comment
logo-img Fintech Newz

All Rights Reserved © 2024 Fintech Newz