Through GoCardless Embed, a white-label integration, Airwallex now connects to GoCardless’ global bank payment network, helping Airwallex customers to expand into new verticals and use cases where direct debit is preferred.

Airwallex has launched the service in the UK, with Europe expected to soon follow. The announcement is the latest move from Airwallex as part of its commitment to supporting businesses of all sizes to achieve their global growth ambitions.

Justin Leung, Financial Partnerships Manager at Airwallex, said: “Businesses of all sizes are looking at how they can adapt to evolving customer needs — and payments are no exception. With direct debit continuing to be a trusted and popular way to pay, especially with the rise of the subscription economy, we felt it was

the perfect time to strengthen our offering so that our customers can better serve theirs. By working with GoCardless we were able to quickly provide this option through one simple integration.”

Deepak Colluru, Director of Product Management for GoCardless Embed, said: “We’re excited to work with Airwallex to bring the best of direct debit to its customers. With fewer intermediaries, they are cheaper than cards and in many cases more reliable too, without expiry dates or lost payment details.

“It’s a win-win for us to partner with Airwallex. We’re proud to add to their bank payment offering through Embed, giving them access to a global network in a matter of weeks, while at the same time reaching thousands of new merchants through their platform.”

The partnership news comes as GoCardless research indicates that payment service providers (PSPs) must continue to innovate to stay competitive and boost customer retention. Increasing payment choice was cited as a top priority for merchants when asked what they would like from their PSPs: 31% of businesses surveyed would be willing to pay more for a wider range of payment methods. Over a third of businesses (35%) want their PSP to offer direct debit and more than a quarter (27%) want them to offer open banking or other bank payment options.