GoCardless to acquire Nuapay

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.

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