As part of this partnership, by working with GoCardless, Cape will be one the first software companies in Australia to use the New Payments Platform’s PayTo instant account-to-account payment network, backed by the government and launching on the 1st of July.
Cape customers will be able to schedule both recurring and one off repayments, to eliminate the stress and time associated with settling balances.
The collaboration will underpin a core part of Cape’s payment infrastructure which is currently powering our ‘Closed Beta’ program. We invited onboard our first set of early adopters to this after recently closing a $33.1 million debt and equity funding round, led by Aura Ventures, Investible, Mercury Capital principals and a handful of angel investors with notable roles at Atlassian, Stripe and LegalVision.
Keeping one eye on the future, GoCardless’ payment infrastructure will also provide Cape with the ability to seamlessly expand internationally, without the need to set up international entities and bank accounts.
Together, Cape and GoCardless seek to solve cash flow issues, providing uninterrupted access to funds, and providing a real-time up-to-the-minute view of a company's finances thanks to instant payments.
The partnership will also eliminate time-consuming and manual tasks through automation, freeing up finance teams to take a more strategic view within their business
Commenting on the collaboration, Luke Fossett, Director, Australia and New Zealand Sales, said:
“Our mission is to take the pain out of getting paid so that businesses can focus on what they do best. Instant payments will help Cape combat issues like customers having to wait up to three days for remittances to clear if users reach their credit limits attached to their Cape corporate card, as well as better managing their financial position with full visibility of their live cash position. We’re excited for Cape to join GoCardless as one of the first in market to leverage the benefits of PayTo to help small businesses thrive”.
Andrew Fanner, Chief Product & Marketing Officer, Cape, said of the partnership:
“Cape’s mission is to help small business owners save time and money. Launching this service couldn’t be truer to that mission. We are extremely excited to be working with GoCardless to provide such an important service to our members. We look forward to rolling out this service with the GoCardless team and giving time back to our members.”
About GoCardless
GoCardless is the global leader in direct bank payment solutions, making it easy to collect recurring and one-off payments directly from customers' bank accounts through direct debit and open banking. The GoCardless global bank pay network and technology platform take the pain out of getting paid for 70,000 businesses worldwide, from multinational corporations to small businesses. Each year GoCardless processes more than US$30 billion of payments across more than 30 countries. GoCardless is headquartered in the UK, with additional offices in Australia, France, Germany and the United States. For more information, please visit www.gocardless.com and follow us on Twitter @GoCardless.
