PayPal allows backers to pledge directly from their PayPal account, whereas GoCardless is a direct debit system that allows people to make payments directly from their bank account, via a one-off direct debit. The direct debit is set up when Backers pledge, allowing Spacehive to collect the funds from their bank account at the end of the campaign, should you reach your funding goal. Because it’s a one-off direct debit, only one payment can ever be taken as a result of this pledge.
For project creators, we recommend adding both options as it gives potential backers more choice, and each platform has different benefits. PayPal allows Backers to pay from anywhere in the world, while GoCardless has lower transaction fees for UK-based pledges.
For more information on setting up a GoCardless account visit our guide, here, and the table below has more information on both platforms.
|Payment types supported||PayPal account, credit & debit cards||BACS and debit cards|
|Maximum pledge size||£1,250||£10,000|
|Payments can be made from||Anywhere in the world||UK-only|
|Funds deposited in||Your PayPal account||Your bank account|