GoCardless Makes Getting Paid Smarter with Success+
On April 22nd, our client, GoCardless (one of the hottest fintech businesses and a leader in recurring payments) unveiled Success+, the first of several intelligent payment products planned from the company to improve the success rate of recurring payments.
Based on data collected through Machine Learning, GoCardless' Success+ product is able to determine the date and time when customers are more likely to pay their recurring invoices. This increases the success of these payments, reduces the time that the business must perform retries, and improves the overall customer experience. In fact, businesses testing Success+ have found that they have increased the success rate of their payment retries to 76%. Ensuring that businesses receive payments and find the right time to collect payments from their customers has become increasingly important as we've entered the COVID-19 pandemic and the rate of payment failures has increased.