- Yonder and GoCardless Partnership:
- Yonder, a modern rewards credit card, extends its relationship with GoCardless.
- Introduces Variable Recurring Payments (VRPs) alongside existing Direct Debit functionality.
- Payment Flexibility with VRPs:
- Yonder cardholders can now use VRPs to instantly pay off credit card balances.
- Members have the flexibility to choose weekly or daily repayments, offering more control.
- Dual Payment Options:
- Yonder gains access to both Direct Debit and instant, recurring open banking payments through GoCardless.
- Provides members with diverse payment choices and increased control over repayments.
- Combining Tradition with Innovation:
- Yonder pairs tried-and-true Direct Debit with cutting-edge VRPs for repayment collections.
- Offers a fallback option for members in case of VRP unavailability or technical issues.
- Member Experience and Financial Control:
- Tim Chong, Yonder’s CEO, emphasizes the importance of providing members control over finances.
- VRPs enable immediate credit line availability and enhance the overall member experience.
- GoCardless’ Expertise and Expansion:
- GoCardless, active in VRPs since 2019, expands its relationship with Yonder to enhance member experience.
- VRP customers include companies like Nude, Pillar, and ethical lender Plend.
- Yonder’s Financial Milestones:
- Yonder, based in London, secured £62.5m in Series A funding, boosting its market valuation nearly threefold to £70m.
- Offers modern credit experiences with benefits like fee-free foreign exchange and worldwide travel insurance.
