Enhancing GoCardless Integration with SubscriptionFlow

Every business’s success ultimately lies in customer satisfaction. After all customers are the major forces behind revenue growth. That is exactly why retaining customers should be a business’s top priority.

One of the key ways to win customers’ hearts is to offer a smooth payment experience. GoCardless is a master when it comes to that. It has long been a trusted solution for businesses looking to implement the most seamless transaction processes.

The situation is even better for businesses using GoCardless with SubscriptionFlow. SubscriptionFlow has taken its GoCardless integration to the next level by incorporating more advanced features into it. You can expect greater automation, flexibility, real-time payment insights, and more!

A Brief Overview of GoCardless

Expert in account to account transactions, GoCardless is a leading payment platform simplifying businesses’ everyday payment processing. The platform is especially valuable in the SaaS industry, because of its recurring billing and invoice handling capabilities.

These are some of its outstanding services:

Recurring Payments with Direct Debit: GoCardless’s recurring transaction features make it a great choice for subscription businesses. The platform automates payment collection via direct debit. Once a customer agrees to a subscription service, the funds get automatically deducted directly from their bank accounts on set intervals.

Direct debit is more foolproof when it comes to payments collection. Since cards no longer remain intermediaries in transactions, payments don’t fail because of card expirations. The chance of payments declining due to insufficient funds is also lowered. Additionally, GoCardless saves companies from card processing fees. Account to account transfers are more cost effective, benefitting businesses with high transaction volumes.

International Payments: With GoCardless, businesses can accept payments from 30+ countries. They can easily sell globally by supporting multi-currency transactions.

GoCardless Success+: This is GoCardless’s in-built feature for successful payment retries. It uses machine learning to optimize the timing to retry failed payments. Instead of attempting retries at random, it actually analyzes past payments data, and determines the optimal time to retry. This boosts the chances of payment recovery.

GoCardlessProtect+: This feature acts as a safeguard for secure transactions. It especially prevents fraudulent chargebacks to make sure that businesses don’t lose money unfairly. Since direct debit payments don’t have the chargeback protections that card payments do, Protect+ fills in this vacancy for them, and adds that needed layer of security.

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Moreover, it is compliant with SCA (Strong Customer Authentication Standards) which is a requirement for businesses in European countries. This fosters customer trust, and facilitates transparent transactions.

Common Challenges in GoCardless Integration

GoCardless equips businesses with compelling and tech-savvy features, some of which we discussed above. Subscription based businesses can access all these features by integrating with GoCardless via a subscription management software.

However, not all integrations can achieve the same level of smoothness and efficiency. Businesses might encounter some service bumps, impacting their overall productivity. These obstructions can be in the form of webhook configurations, data syncing issues, payment processing problems, etc. These challenges can be time consuming to overcome, and can negatively affect the business output as well.

Let us list some of these problems for better understanding:

Ineffective Data Syncing

In order for a business’s workflows to continue without errors, it is necessary that the data stays consistent and updated across all the platforms. If businesses integrate with more than one software, then there must be a seamless data flow between them.

Data syncing ensures that a business has accurate financial records at all times. In case of loopholes in the integration, data syncing might not work successfully, causing data discrepancies. Company employees might have to switch between different platforms to manually update data themselves. It not only increases the margin for errors, but also signals that the data is not getting updated in real-time.

Webhook Configuration

Webhook issues arise when merchants do not configure their webhooks correctly. Webhooks are links that give businesses real-time notifications about certain events. For instance, customer payments.

When webhook failures occur, businesses lose their ability to monitor real-time payments, or receive updates about other customer activity. They face the risk of missing important notifications such as payment status updates. Another challenge that merchants face with GoCardless integration is setting up webhooks manually. Manual configuration is always error prone, not to mention complex and time consuming.

Currency Management Issues

Exchange rate fluctuation is an important issue for businesses operating in different countries. It is necessary to ensure accurate conversions for error-free financial reporting. Moreover, even though GoCardless supports multiple currencies, businesses must know how to handle those currencies efficiently as well, to avoid financial discrepancies.

Chargeback Handling

Payment disputes are likely to arise in a recurring payments model, leading to chargeback issues. Businesses need to set up a system which manages chargebacks effectively, while allowing visibility into the process. Without such visibility, businesses might struggle with resolving payment disputes on time. This can cause customer dissatisfaction, and revenue loss.

Say Goodbye to Integration Pain Points with SubscriptionFlow-GoCardless Alliance

It can be challenging to incorporate GoCardless into your subscription management system without bumps. The challenges mentioned above can be especially potent, and can impact your business performance if not dealt with thoroughly. Setting up a reliable integration with GoCardless requires careful planning and execution. With SubscriptionFlow, you don’t have to think twice!

We ensure that you make the most out of your investment in GoCardless. SubscriptionFlow continuously enhances its integrations with third party applications to give you an elite working experience. Considering the challenges users commonly face with GoCardless, we have leveled up our integration. Here are some of the upgrades we have implemented to make your financial operations effortless:

1. Automated Webhook Setup

We realize the challenges that merchants have to go through in order to configure their own webhooks. It is time consuming and error prone for businesses to manually set up their webhook URLs for GoCardless. SubscriptionFlow has eliminated this issue by offering an automated webhook URL for all the businesses using GoCardless.

SubscriptionFlow sets ups the webhook on the partner app (GoCardless) directly, so that each business using the platform can leverage it. Merchants no longer have to create their own URLs, making real-time financial tracking extremely convenient and accurate. It minimizes the possibility of configuration mistakes, and allows quick access to real-time payment notifications.

2. Company Name Field

When creating a payment method in SubscriptionFlow, companies can utilize special data fields to fill in their names as well. This field is only used by businesses for their transactions. Company names set these transactions apart from customer payments.

This option is ideal for businesses dealing with numerous transactions. If the payment records show only the individuals’ name, it can get confusing. Therefore, company name fields in transactions help avoid mistaken identity. Additionally, businesses can group all the payments with their names for keeping organized records. It helps with easy payment tracking and accounts reconciliation as well.

3. Customer-Level Currency Configuration

SubscriptionFlow allows businesses to support multiple currencies, and allows each customer to pay in their own preferred currency. Businesses operating in various countries have to deal with the preferred currencies of their customers to simplify their payments.

If businesses charge consumers in a single currency, they might have to pay additional currency conversion costs. This might discourage them from buying your service again. SubscriptionFlow combats this by letting you offer tailored invoices to customers. We ensure you bill customers accurately, and avoid currency conversion confusions.

4. Pre-Filled Currency on HPPs

Businesses can set up pre-filled currency on GoCardless’s hosted payment pages. The currency set up for each customer is determined by their chosen currency in SubscriptionFlow. Let us suppose you have a Swiss customer on SubscriptionFlow. When that customer proceeds to purchase your service, they will get the automated option to pay in Swiss Francs.

This is how a pre-filled currency selection works. Customers do not have to scroll through a long list of currencies to find out theirs. Instead, SubscriptionFlow offers them their own currency automatically by tracking their location. This makes customer checkouts via GoCardless fast and error-free. Since customers do not have to make an additional effort of choosing their currency, they can enjoy a smoother than ever payment experience.

5. Real-time Chargeback Handling

Payment disputes can be nasty if not resolved on time. SubscriptionFlow lets you resolve these issues before they escalate. We handle these events via webhooks, so that your business gets instantly notified whenever a customer initiates a chargeback request.

Real-time chargeback monitoring enables businesses to proactively communicate with the customers, provide documentation, or take corrective actions. We ensure that your business has full-time visibility into your GoCardless transactions so that you continuously track your chargeback processes with ease.

Join the many successful businesses using GoCardless with SubscriptionFlow. Book a demo with us now to enjoy all the powerful features our integration has to offer.