Feedback: GoCardless makes France its operating hub

Payment solution GoCardless has announced that it will have doubled its sales volume in France by June 2022. This surge, making France the second fastest growing country, due to the market's attraction to electronic payments, a highly competitive sector driven by a constant cluster of innovation.

FACTS 

• GoCardless has more than 75,000 businesses, from startups to large accounts to collect recurring and one-time payments.

• GoCardless has processed more than $30 billion in payments in over 30 countries.

• Headquartered in the UK, it has offices in Australia, France, Latvia and the United States.

• In France, GoCardless supports players such as Doctolib, Luko, Sowee and Payfit.

• GoCardless provides figures for 2022:

  • recorded revenues also doubled (vs. A-1)

  • +25% average contract value

  • +68% for international revenues (year-on-year)

  • + 45% increase in revenue (year-on-year)

  • +40% increase in total payment volume processed

• GoCardless has doubled its sales volume in the French market in 2022 (vs. A-1): 

  • GoCardless France now has 30 employees and has doubled its team in 2022.

CHALLENGES 

• The results achieved in France have contributed to the good global performance of the British fintech: the Paris office has become the hub of GoCardless' European operations. A similarly promising trajectory for 2023, with growth likely driven by GoCardless' breakthroughs in its open banking payment offering. 

• Gocardless continues to launch new products to meet customer needs: GoCardless has launched two anti-fraud solutions in the past six months. Verified Mandates, which uses open banking to prevent fraud, and Protect+, which processes millions of transactions based on machine learning.

• Opening up its unique global bank payment network to expand: with the launch of GoCardless Embed, PSPs now have access to its global network, and allows the fintech to reach millions of payers via other PSPs.

MARKET PERSPECTIVE 

• By integrating open banking with Nordigen, which already covers more than 2,400 banks in 31 countries, GoCardless will extend its European reach and bring the benefits of open banking to the various players in the market.

• According to a GoCardless survey via Attest of 500 French executives and/or decision makers who influence their company's payment strategy, 70% of French companies say the economic climate has had a significant impact on the revenue they have lost due to fraud.