Direct Debit with GoCardless and BHIM Payment Integration

In today’s world we are wondering with lots of payment integration methods. Some have access to our cards or some have access to account. We are using these methods to make payment to Gym, Magazine and Online Purchase. But what happen when you want a something more secure and recursive payment option. Then the new method introduced here is Direct Debit Card. Many country and payment integrator have applied this way of payment. In UK GoCardless and in India BHIM is making their way in this integration method.

What is Direct Debit?

It is like an instruction you give to your bank for the payment of your recurring bills and other expenses. For any payment you want to make to any one will inform you first with details of payment. This details of payment include amount to be paid, date and time when that amount is going to be paid. Now this payment require your authentication. You can approve the payment while filling a form online or on paper. This allow you bank to make payment on your behalf with your permission.

Possibilities of Using Direct Debit?

Direct debit is so much flexible and secure way to make payments for many type of billings. Once you allow bank or organization for getting their payment, each time the amount will deduce automatically. If the company what to make change in time of payment or amount, they have to inform you first. So basically there are ways to use it.

Subscriptions Payment: Like if you are member of a Gym or you have subscribed a magazine then Direct Debit will help you making these transaction in very easy way.
Regular Bill: It have ability to make payment of your bills on time each and every month, till you end the service or money in account is not enough.
Pay on Account: It allows you to pay directly between accounts or through your accounts.

Applications and Integrations:

BHIM in India: BHIM application is making way clear in India to go card and cashless. People can making transactions directly from their account to their respective merchants. This application was developed by NPCI (National Payment Corporation of India) and launched my Mr. Narendra Modi, Prime Minister of India. BHIM app is motivating to make digital transaction. It is also a medium in India that make direct debit transactions. BHIM application do not hold money of the user. It is just and Mechanism or medium to make you cash travel securely between accounts anytime. This application support all the banks.

GOcardless: GOcardless was effort of Tom Blomfield, Matt Robinson and Hiroki Takeuchi. They wanted to create a way to make transaction easy between friends or small organizations. Hiroki and Matt previously worked together at McKinsey. In the starting day it was named as GroupPay. GOcardless is a UK based company making Direct Debit transaction. Currently it is working in UK via BACS, in Eurozone via SEPA and Sweden via Autogiro. It is currently holding 3 billion worth of transaction across 30,000 organization in and out of UK and Europe.