Last month we announced our new scheme launch with GoCardless in Australia. And now we’ve turned our attention to the Nordics…
We’re excited to announce that Zuora customers in Sweden and Denmark can now take recurring payments with GoCardless via Autogiro and Betalingsservice!
This new partnership in Sweden and Denmark will support the growth of the Nordic Subscription Economy and solve the common issues that enterprise businesses face through collecting recurring payments.
Per Karl Stjernstrom, GoCardless’s Head of Global Enterprise Partnerships: “As a global payments provider, we know that businesses need scalable solutions to effectively manage recurring payments across multiple territories. We’re really excited to be growing our partnership with Zuora through these new scheme launches to help businesses collect payments through Bank Debit from their customers across the Nordics.”
What is Autogiro?
Bg Autogiro is a Direct Debit scheme for collecting Krona-denominated payments from a bank account in Sweden. It’s the Swedish equivalent to SEPA Direct Debit in the Eurozone and Bacs Direct Debit in the UK.
Bg Autogiro is a popular method for collecting payments in Sweden. Approximately eight out of ten Swedes use Autogiro with the average customer paying five to seven bills per month via Autogiro.
Benefits of Autogiro
Autogiro payments are bank-to-bank. Autogiro operates through the Bankgirot clearing scheme, rather than through the card networks. This has significant benefits when taking payments on an ongoing basis:
- Low cost. Since Autogiro payments aren’t routed through expensive card networks, they’re much lower cost than taking payments by card.
- High retention. Churn due to card expiry is completely eliminated. Autogiro relationships last longer than ongoing card payments.
- Anyone can pay. Anyone with a Swedish bank account can pay by Autogiro. This includes both businesses and consumers.
What is Betalingsservice?
Betalingsservice is the Direct Debit scheme within Denmark, it enables merchants to automatically collect Krone-denominated payments from their customers.
Benefits of Betalingsservice
The Betalingsservice clearing scheme avoids the need to use any card networks. Operating in this way can be beneficial when taking payments on a regular basis, for example:
- Lower costs. Direct Debit payments are typically cheaper than Denmark’s card network.
- Higher retention. Direct Debit eliminates the risk of customer churn from card expiry, meaning your customers can enjoy a longer relationship with your service.
- Open to everyone. Anyone with a bank account can use Direct Debit to make payments, as long as they have signed a debtor agreement with their bank.
Zuora and GoCardless: Enabling Subscription Economy Success in the Nordics
According to John Phillips, Managing Director, EMEA, Zuora, “Our mission is to enable all companies to be successful in the subscription economy. Collaborating with GoCardless means we can offer our customers, and their customers, more flexibility and scalability when it comes to subscribing to new goods and services.”
This latest integration is another key milestone in solving the common problem of late payments—in the Nordics and around the world.
GoCardless for Zuora is now live in the following countries and schemes:
Eurozone – SEPA – EUR (€)
UK – BACS – GBP (£)
Australia – BECS – AUD ($)
Sweden – Autogiro – SEK (kr)
Denmark – Betalingsservice – DKK (kr)
Learn more about GoCardless here.
And check out the 3 most important global subscription payment methods for businesses.