back Back

Topps Tiles selects GoCardless to enhance Trade Pay offering

By Gloria Methri

May 03, 2024

  • credit scheme
  • Direct Debit
  • FinTech
Share

GoCardless, Topps Tiles, Trade Pay, Trade Credit, Direct Debits, Bank Payments, Open Banking Payments, Direct Debit, Payment Service Provider, FinTech, UKTopps Tiles has selected GoCardless to power the payments behind Trade Pay, which enables traders to regularly pay on credit in Topps Tiles stores.

Thanks to GoCardless, traders can now pay their monthly instalments through Direct Debit, with their funds automatically collected on the due date. This provides an easy, effortless way to stay on track with repayments and free up lines of credit to keep growing their business.

The launch of Trade Pay is a significant move for Topps Tiles, accelerating its push into the trade market. The retailer knew that lines of credit were important to these customers and had previously offered its trade credit scheme through a third-party finance provider. The arrangement was convenient but costly, with fees charged per transaction.

GoCardless emerged as a top payment partner when Topps Tiles began to look for technology to streamline its payments. By making the Direct Debit mandate creation and payment process entirely digital, the retailer will reduce the days it takes to receive payments. It also eliminates manual work and makes processes more efficient for its support office.

Neil Williams, Head of PMO and Development from Topps Group, said, “After successfully moving our trade credit service to an internal scheme we wanted to make it as easy as possible for our customers to manage and pay for their account, and GoCardless seemed the perfect partner to add a direct debit facility to our TradePay credit scheme.”

Pat Phelan, Managing Director of UK & Ireland, and Chief Customer Officer at GoCardless, said, “We’re proud to power the payments behind Trade Pay, enabling Topps Tiles to bring lines of credit in-house in a way that protects their margins without overburdening their teams with manual admin. By using our bank payments platform, Topps Tiles can quickly scale in the trade market, safe in the knowledge that they’ll be paid on time by happy customers through a seamless payment experience.”

Previous Article

May 03, 2024

Finxact and Zafin team to support Core Banking transformation

Read More
Next Article

May 03, 2024

The Weekly Wrap: all you need to know by Friday COB | May 3rd

Read More








IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

credit scheme

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 17, 2024

Confida and illimity create new capillary proximity network, Pehi

Read More

May 17, 2024

Niyogin acquires ‘Superscan’ from Orbo.ai to propel AI-led neo-banking

Read More

May 17, 2024

FinTech Focus: Catch latest developments of the week

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023