Bahaa Abdul Hussein observed that all the world’s market, and merchants and clients are basically players with bills, payments, and payment preferences. If Shakespeare lived today, he’d sell his books and products online and accept different payment methods.

Internet commerce has exploded. Access and convenience have improved cross-border trade. Fintech developments and customer demand for easy, safe, and cost-effective payment options also changed payment systems.

Merchants wanting local and worldwide growth must offer more payment options to customers (APMs). Open banking policies and initiatives have boosted fintech’s ability and scope. Credit and debit cards aren’t the only options for instant and recurring payments.

APMs include eWallets, bank transfers, mobile payments, and prepaid cards. Payment visibility, automated foreign currency, and lower transaction costs are some advantages of direct debits over cards.

Some of the companies showed how businesses appreciate flexible payment methods.

GoCardless

This global fintech disrupts payments. GoCardless, a leader in account-to-account transfers, makes recurring and one-off payments easier. Their payments network services over 65,000 organizations globally, including DocuSign, The Guardian, Deputy, Siteminder, and 9MSM.

GoCardless’ global bank debit network, open banking capability, and cloud-based technologies make collecting subscriptions, bills, and installments straightforward. Their automated solution reduces transaction fees, reduces attrition, increases cash flow, and eliminates manual payment admin. They connect directly to common accounting and billing platforms through API connectors, providing plug-and-play for merchants and frictionless payments for customers.

GoCardless focuses on account-to-account payment methods to help retailers service customers. Offering clients their chosen payment method can enhance conversion, improve customer loyalty, and reduce churn.

GoCardless will add tools to take advantage of open banking around the world. They’ve launched Instant Bank Pay in the UK and will debut as a credit card rival on the Australian NPP in 2022.

GoCardless’ website has FAQs and helpful documentation.

Shopify

This 2006 Ottawa, Canada, e-commerce platform helps people develop and maintain internet stores. By 2021, it will have 2.6 million online stores, producing $314 billion. Shopify accepts payments in 175 countries using its own built-in system and third-party gateways.

Shopify Payments accepts credit cards and other local payment methods. Customers choose a payment method from a list. Shopify connects with over 100 payment channels to make business easier.

Shopify offers offline services. Its POS hardware and software are online and in stores. Its apps are adaptable across mobile operating systems, so shops and customers may enjoy shopping.

FIS

FIS was formed in 1968 in Florida, USA, and is the world’s largest payments processor. Its fintech inventions serve merchant, banking, and capital markets. It processes $9 trillion in 75 billion global transactions.

Worldpay services 1 million merchants in 146 countries. It has 300 payment gateways in 126 currencies. FIS helps organizations expand globally by providing a single integration point for frictionless payments and acceptance while decreasing fraud.

FIS “accepts traditional and alternative payment types anywhere, anytime, on any device and across channels”

Recurly

Better billing boosts the subscription economy. Recurly innovates subscription billing. It began in San Francisco in 2009 to ease firms’ regular billing and invoicing. The company predicts over $7 billion in transaction volume, based on considerable growth in the US and a rising global customer base (17%). Global subscriptions will be worth $228 billion in 2021.

Recurly’s all-in-one subscription management and billing software support 12 gateways. It combines with GoCardless, a leader in direct debit, to service bank-to-bank markets globally. Its partners include Amazon Pay, Bambora, Paypal, and Stripe, and it serves SaaS, media, healthcare, and education organizations.

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