Brompton has teamed up with GoCardless to streamline the payments of its bike subscription service.
UK customers can now benefit from easy to set-up and manage monthly payments, powered by GoCardless, “guaranteeing a seamless experience for both the customer and merchant”.
With the average UK household spending £552 a year on subscription services and consumer behaviour shifting away from direct ownership, Brompton launched Brompton Bike Hire during summer 2020. This new service enables customers to avoid the upfront expense of purchasing a bike outright.
With GoCardless’ end-to-end API, Brompton will be able to automate the entire payment collection process, reducing time spent on administration. One of the key reasons for selecting GoCardless was to reduce DSO (Day Sales Outstanding) and improve cash flow. By using a bank-to-bank payment method, it will also reduce pain points that lead to customer churn, such as credit cards expiring, while delivering a ‘frictionless’ online experience for the customer.
“There has been a significant shift towards cycling now more than ever,” said Brompton Bike Hire MD Julian Scriven. “Our pay-as-you-ride schemes have been extremely popular, and the addition of the GoCardless solution has proved incredibly popular with our customer base.”
Stephen Reidy, VP and general manager, UK and Ireland, GoCardless, added: “In the current subscription-based economy, the big technology companies like Netflix, Spotify and Disney+ dominate, but transport is now coming into the equation.
“Offering the right payment service is key to creating a seamless experience for customers, as well as having the peace of mind that everything is running smoothly behind the scenes.
“We’re looking forward to working with Brompton to automate their recurring payments, and help them meet this demand for hire services.”