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Yes - there isn't much consistency around this. Failed transaction costs are really down to each individual bank.

We really hate this practice, and don't feel there is any legitimate justification for it. One of the many reasons we are strong believers in disruptions to the banking industry.

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We'd love to speed up the Direct Debit system - unfortunately that isn't likely though. That is why we focus on recurring payments, where merchants are able to time the payments in advance.

If Faster Payments opens up, we are well placed to adopt it.. It's on the banks & regulators to open it up though (current access is closed). Watch this space!

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The 2x implementation time was an loose estimate. However, we found that thinking through all of the edge cases, and getting it to work well significantly impacted speed.

In terms of growth in mobile traffic, I have no doubt you are right. However, considering the lifetime of the design - I would be surprised if this number changes significantly before we do another redesign!

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Hey - one of the founders of GoCardless here.

We have found that conversion can be just as good, if not better than cards in the right cases. The biggest factor that affects this is transaction type.

We see really great conversion for repeat billing where Direct Debit is already a well known method of payment. Conversion is not as good for one-off payments where DD is less expected though.

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I appreciate the honesty and lack of 'spin'.

I was considering GoCardless but a survey of my customers stopped me.

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We switched from PayPal to GoCardless for one off payments and we haven't found any problems amongst our customer base. We occasionally have to explain the mechanics behind it but generally people get it and prefer it to not having the faff of a PayPal login.

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That is coming very very soon!

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Great point Alex - will look to add something like that next time we get a chance to update our splash pages!

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We were actually part of the summer 2011 batch. As far as I am aware, YC don't do post-YC investments.

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Thanks.

The article's "GoCardless is also announcing a $1.5 million round led by Accel Partners, Passion Capital, SV Angel, Start Fund, and Y Combinator." line is really misleading then.

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You can pass in information to display on the checkout pages. We can definitely help you with any kind of variable billing. You can come and chat with us at:

https://gocardless.campfirenow.com/3ae88

[edited link]

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Thanks, sounding good so far, just need to get an account so I can test it out :)

The campfire channel seems to be non public?

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1. We pay out on a 7 days after a transaction is initiated.

2. Faster payments is the new standard for payments initiated from within a bank account (e.g., via online banking). Direct Debit is still the standard for "pull" based payments.

3. Keep an eye out. We have some big announcements coming up.

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We are looking to roll out across EU as soon as possible. We are in discussions with the banks to make this happen.

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