EML Open Banking expands into 20 new countries

Tuesday 24 May 2022 13:01 CET | News

Nuapay (EML Payments Limited's Open Banking business), has connected to banks in another 20 countries in Europe.

Nuapay's connectivity reaches 2,250 banks in 28 countries across Europe, with the potential to reach 420 million customers through its banking platform. Newly connected countries include Austria, Czech Republic, Estonia, Finland, Romania, Slovenia, and Sweden.

At the end of 2021, Open Banking front runner, the UK, experienced a 500% increase in Open Banking payments in 12 months. Also in the UK, 70% of lenders expect to use Open Banking within the next two years, a surge from the present 26%.

EML's offering powers card issuing, payment accounts, Open Banking, pay-outs, and direct debits under one roof to help businesses seek more value from payments. Its one-stop-shop approach has reportedly proven attractive to B2B (Business-to-Business) companies who need to issue money and collect payments in ecommerce, BNPL (Buy Now, Pay Later), and lending.

Additionally, Nuapay, an account-to-account payments pioneer with 18 years of experience, enables both Open Banking payments and data sharing and is a direct member of UK Faster Payments and an indirect participant bank in the SEPA Instant payment network.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Nuapay, Open Banking, expansion
Categories: Banking & Fintech
Companies: EML Payments, Nuapay
Countries: Europe
This article is part of category

Banking & Fintech

EML Payments



Discover all the Company news on EML Payments and other articles related to EML Payments in The Paypers News, Reports, and insights on the payments and fintech industry: