Partnership Announced: Multifi Teams Up with GoCardless to Simplify Payment Processes for Small Companies
Small business owners can breathe a sigh of relief as GoCardless, a leading online payments company, and multifi, a digital finance platform, have joined forces to streamline recurring payments. This partnership aims to empower small businesses with faster, smarter, and more reliable payment solutions, ultimately allowing them to focus on growth rather than payment logistics.
According to Pat Phelan, Chief Commercial Officer at GoCardless, the integration of their Direct Debit feature into the multifi platform will provide peace of mind for customers due to automatic collections and lower failure rates compared to cards. Repayments made through the GoCardless Direct Debit feature will be made on time, every time, ensuring a seamless repayment process.
The partnership extends repayment terms and introduces a more flexible payment structure for multifi, as affirmed by Sunil Dial, Director of Revenue at multifi. This flexibility is further enhanced by the introduction of a dual-tier structure designed to support businesses at different stages of growth.
One of the key benefits of this collaboration is the streamlined repayment process it offers. The Direct Debit integration allows for automatic, scheduled collections directly from a customer’s bank account, removing the need for manual intervention and ensuring repayments are made on time. This not only reduces administrative burden for businesses but also enhances cash flow management, especially for businesses that rely on consistent revenue streams or those offering credit products with longer repayment periods.
The platform now features enhanced current account integration and automated repayment calculations, making it easier for businesses to monitor their finances in one place. This simplification further reduces the need for manual reconciliation, making financial management more straightforward.
Sunil Dial also mentions that this partnership represents a significant step forward in their mission to provide the most straightforward business finance product in the market. For multifi broker partners, this partnership offers an even more compelling product to present to their clients.
In conclusion, the MultiFi GoCardless partnership is set to revolutionise the way small businesses manage their finances. By automating cash flow processes, reducing late payments, and simplifying reconciliation, this collaboration is poised to make a significant impact in the financial management landscape for SMEs.
On ffnews.com, the merger of GoCardless and multifi is highlighted in the world of finance and business, as it promises to optimize recurring payments for small businesses. The collaboration introduces a streamlined finance management system, integrating the GoCardless Direct Debit feature into multifi, boosting technology to offer automatic, scheduled collections and ensuring seamless repayment processes, especially for businesses offering credit products.
