Zuora announces partnership expansion & new product integration with GoCardless

By Pavithra R

Zuora, an enterprise software company that creates and provides software for businesses to launch and manage their subscription-based services, has announced that the firm has entered into a global partnership and new product integration with GoCardless, the FinTech for recurring payments.

Under the partnership, both Zuora and GoCardless will work together to help companies across more than 30 countries, including the U.S., Europe, U.K., New Zealand, Australia, and Canada to process recurring payments quickly and reduce payment-related costs and customer churn.

The GoCardless Global Payment Preferences report found that, with increased consumer demand for digital services, the use of bank debit to pay for online subscriptions has also escalated as an alternative to legacy payment methods like paper checks, wire transfers, and credit cards. 

To address the need for faster, higher acceptance rates for global recurring payments, GoCardless and Zuora engineered a new solution optimized for the digital Subscription Economy and recurring payments.

“We’re excited to expand our partnership with GoCardless to help subscription businesses carry out successful payment collection experiences, and truly embody the agility required to scale in today’s Subscription Economy. Our enhanced, integrated solution will serve as a foundation for businesses to effectively execute a global payments strategy, removing inefficiencies and barriers to scaling in international markets,” said Chris Battles, Chief Product Officer at Zuora.

The advanced automation within the GoCardless recurring payment solution along with the agility of Zuora’s Billing platform equips subscription businesses in their bill monetization plans, and strategically iterate new subscription offerings. Using Zuora and GoCardless integration, customers can:

• Minimize Churn: Offering payment methods catered to customer preferences. Using Zuora and GoCardless, customers can pull money directly with bank debit, and reduce payment failure rates with intelligent retry logic and automated dunning functionalities, reducing customer churn.
• Reduce Cost of Collecting Payments: The Zuora and GoCardless solution automates the entire payment process from invoice to collection and back-office reconciliation, reducing the resources required, and eliminating the hidden domestic and international fees, thereby significantly reducing costs of managing a global recurring revenue business.

“GoCardless is committed to providing the best way for businesses to collect recurring payments. Through our expanded partnership with Zuora we can help subscription businesses automate their end-to-end payment process and lower their costs as they expand into new markets,” said Carlos Gonzalez-Cadenas, Chief Operating Officer at GoCardless.

Established since 2007, Zuora provides cloud-based software via subscription that enables companies in any industry to successfully launch, manage, and transform into a subscription business.