GoCardless to acquire Nuapay

Friday 15 March 2024 08:44 CET | News

UK-based bank payment company GoCardless has announced its agreement to acquire Nuapay, with the transaction being subject to regulatory approvals.  

As per the information detailed in the press release, the acquisition of Sentenial, which operates globally under the Nuapay brand, from EML Payments Limited is set to expand GoCardless’ indirect channel proposition, solidifying its position as a payment provider to existing and new customer segments, including Independent Software Vendors (ISVs) and Payment Service Providers (PSPs).

UK-based bank payment company GoCardless has announced its agreement to acquire Nuapay, with the transaction being subject to regulatory approvals.

Nuapay’s acquisition objective

In addition to advancing GoCardless’ proposition, by integrating Nuapay’s offering into its bank payment platform, GoCardless aims to accelerate the launch of new disbursement capabilities to its customers and prospects. Through this, the company intends to receive new vertical sectors and use cases in additional areas, including payroll, financial services, utilities, insurance, gaming, and gambling. Moreover, the acquisition allows businesses and partners to benefit from a full-service provider that offers bank payments, as well as disbursements and payment collection through direct debit, real-time payments, and Open Banking, together with improved capabilities for enhancing payment success and minimising fraud.

According to GoCardless’ officials, Nuapay is an account-to-account (A2A) payment provider and Open Banking specialist with an extended customer base. The company’s business aligns with GoCardless’ development strategy, being set to accelerate the process of achieving its objective of becoming a global bank payment network. Representatives from Nuapay underlined that the acquisition builds on both companies’ shared vision, aiming to result in a merged organisation with domestic and international payments and Open Banking knowledge. Also, the move focuses on delivering the scale to leverage these opportunities for both companies’ clients and partners.

The press release also mentions that for Sentenial staff, clients, and partners, no adjustments are set to be made throughout this transition. The company plans to provide more details in the upcoming period for all those involved in the process.

Furthermore, the current announcement represents the latest move for GoCardless as the company accelerates its development strategy to profitability. Prior to this, GoCardless became an approved supplier of Crown Commercial Service’s (CCS) Open Banking Dynamic Purchasing System (DPS) framework. The company was set to be eligible to bid for account information services (AIS) and payment initiation services (PIS) Requests for Tenders issued by any UK public sector entity that used the DPS, including central government departments and public sector bodies such as local authorities, education institutions, not-for-profit and charitable organisations.

Nuapay’s capabilities

As EML Payments’ Open Banking business, Nuapay provides direct debit, credit transfers, and instant payment products through a single platform, which can be accessed via APIs. The company intends to provide businesses, as well as their customers, with the ability to benefit from the immediacy of Open Banking and A2A payments, reducing the time, money, and resources spent on transactions.

For more information about GoCardless, please check out the company profile  in The Paypers Company Database.

More: Link

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: acquisition, PSP, Open Banking, account-to-account payment, online banking
Categories: Banking & Fintech
Companies: GoCardless, Nuapay
Countries: United Kingdom
This article is part of category

Banking & Fintech




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

Industry Events