Founded in 2011, and after unsuccessfully trying its hand at group payments, GoCardless has built out a platform to make it infinitely easier for small and large business to accept bank-to-bank payments as an alternative to card payments. In particular the startup is targeting subscription-based commerce or any other type of business that relies on recurring payments. That’s because by taking money directly from a customer’s bank account, many of the pitfalls of card-based payments are avoided. This includes when a card is lost, stolen or expires, contributing to a failure rate of up to 15 per cent for card transactions. Direct Debit/bank-to-bank payments offer a potentially much more robust means of accepting regular payments.

http://techcrunch.com/2016/03/23/go-get-funding/