InspirAsia, Open Source/ APIAugust 18, 2020September 10, 2020

GoCardless Australia readies for open banking and instant direct debits

Ruby Hinchliffe reports that GoCardless, the UK-founded fintech designed to help companies process recurring payments, has been building out its Australia and New Zealand operations with two big changes to come. One is open banking, set to really take off in Australia next year following its official launch in July.

The other is the shift from Australia’s existing direct debit system to the central bank-backed New Payments Platform (NPP). The move will see direct debit payments go from pull to push – massively speeding up transactions.