"Better late than never" is true when it comes to gifts or apologies. But late payments are a pretty big turn-off. With the integration between GoCardless and Zoho Finance Apps - Books,Invoice,Inventory, and Subscriptions - late payments are now a thing of the past.
According to Experian's The Late Payment Survey: how is late payment affecting business, "British businesses currently have to wait an average of 22.5 days beyond agreed credit terms to be paid by their customer." Zoho is already integrated with over 6 payment gateways to make accepting payments easier for small businesses in the UK, and now we've stepped it up a notch by offering Direct Debit payments to our UK customers via GoCardless.
Direct Debit? Tell me about it.
Direct Debit is a way of collecting payments that puts you directly in charge of your cash flow. Whether it's a recurring invoice or a one-off invoice, your customers can authorise you to collect money directly from their bank account whenever the invoice is due, which means you always get paid on time. Direct Debit also makes changes in prices and unplanned payments incredibly easy to handle. We've partnered with UK-based provider GoCardless to bring Direct Debit to your invoicing experience.
How does GoCardless integration benefit my customers?
GoCardless makes accepting payments easy for you, and making payments easy for your customers. Your customers will be able to set up Direct Debit mandates and pay your invoices using a link in the invoice email or through the Client Portal. Customers can also choose to save their account details for future transactions, saving them the trouble of entering their account details again the next time they buy from you.
Move seamlessly from payments to reconciliation.
In our next update in Zoho Books, you will also see a GoCardless Clearing account under the Banking module, where you'll see the transaction details including the processing fee, refunds (if any), and the amount you actually received. This integration brings accounting and Direct Debit payments together under one roof, leaving you with more time to do what you do best.
How much will this integration cost me?
Zoho-GoCardless integration is hassle-free and absolutely free. GoCardless may charge you a fee depending on the transaction amount - their support team can fill you in on the details and help you with the onboarding process.
Integrating your Zoho account with GoCardless couldn't be simpler - you can have it up and running in no time. Refer our user guide (Books, Invoice,Inventory,Subscriptions) if you need help with integration or you can always reach us at email@example.com, and we will be more than glad to assist you. Our New Year's gift to our UK customers has just arrived, as the saying goes, better late than never.
UPDATE: Zoho Finance apps now supports the SEPA Payments through GoCardless.