In a recent milestone for digital payments, bank payment provider GoCardless has revealed that more than one-third of its customers are now using open banking options through its platform. This surge is accelerating the adoption of “Pay by Bank” solutions across the UK economy and beyond.
Since introducing its initial open banking product, Instant Bank Pay, back in 2021, the company has onboarded 37,323 businesses to these services.
The figure highlights GoCardless’ success in making advanced payment technology accessible to a wide range of organizations.
Unlike rivals that demand lengthy sales processes and intricate technical setups, GoCardless allows companies—particularly small and medium-sized enterprises—to begin using open banking almost instantly.
Businesses simply sign up online and manage everything through an intuitive dashboard, requiring no advanced coding skills.
The platform has also earned the confidence of enterprise clients.
Organizations such as JustGiving and Capital on Tap rely on GoCardless for handling large-scale, critical transactions, demonstrating its robustness even under high demand.
At the core of this growth is a sophisticated, high-performing system designed for today’s needs.
Features include smart routing that automatically switches payers to established Direct Debit methods when open banking isn’t an option, ensuring seamless collections.
A unique “bank guess” capability draws on data from 70 percent of UK payers over the past 15 years to pre-fill details and streamline checkout experiences. Reliability remains a standout, with the service maintaining 99.5 percent uptime—a key reassurance for businesses wary of disruptions.
By offering a practical alternative to traditional card payments, GoCardless helps companies cut costs, enhance security, and improve transaction flows.
This approach reduces reliance on expensive card networks while delivering faster, more reliable results.Chief Product Officer Shaun Puckrin expressed pride in the achievement: the company is enabling diverse businesses to adopt “Pay by Bank” confidently, combining simplicity, scalability, and dependability.
This not only meets current demands but also prepares users for evolving payment landscapes.
GoCardless is enabling the next phase of open banking with commercial Variable Recurring Payments (VRPs), which promise even greater flexibility for recurring and adjustable billing.
Open banking essentially allows regulated providers to securely access and share financial data—with explicit customer permission—using modern APIs.
This technology replaces outdated manual transfers and costly card systems with direct bank-to-bank connections.
When paired with proven tools like Direct Debit, it bridges innovation with everyday reliability for one-time or ongoing payments.
Businesses benefit through substantial savings—up to 48 percent lower costs than cards in some cases—real-time payment confirmations that shorten collection cycles, and fewer failed transactions due to issues like expired cards.
Customers, meanwhile, enjoy a smoother process: quick authorization via their banking app, no sharing of sensitive details with merchants, instant visibility of outgoing funds, and full control to revoke access anytime.
With over 15 years specializing in bank payments, GoCardless connects global Direct Debit networks and leverages machine learning across millions of transactions to boost success rates and combat fraud.
The firm processed the UK’s first live VRP test in 2019, completed a commercial version in 2022, and earned approval as an open banking supplier for government bodies in 2024.
Today, more than 100,000 organizations worldwide—including startups and major brands—use GoCardless to manage direct debits, real-time transfers, and open banking across 30-plus countries.
The platform processes over $130 billion in payments annually, enabling businesses to collect recurring or one-off funds efficiently, without the usual hassles or high fees.
Headquartered in the UK with offices in several countries, GoCardless continues to drive smarter, AI-enhanced payment solutions.
This milestone underscores a broader shift toward direct bank payments, offering merchants genuine choice and payers a more transparent experience. As open banking matures, GoCardless stands ready to support the transition for businesses of all sizes.