UK-based fintech Banking Circle Group has bought Account-to-Account (A2A) payment provider SEPAexpress, expanding its financial ecosystem.
By becoming part of the Banking Circle Group ecosystem, SEPAexpress gains immediate access to technology infrastructure and financial resources to speed up its growth.
The addition of SEPAexpress complements its set of ecommerce solutions, including embedded finance, business payments and card issuing, and B2B Buy Now, Pay Later. Officials of the acquirer stated that businesses across Europe will be able to focus more on their customer propositions, utilising their services, instead of worrying about the payment process.
A2A payments are payments that move money directly from the payer's bank account to the merchant's or service provider's bank account through all instant payment networks involved. It is predicted that more than 20% of ecommerce transactions in Europe will be made by A2A payment options by 2023, accounting for a higher share of payments than debit and credit cards, says Banking Circle Group.
For more information about Banking Circle Group, please check out the company profile in The Paypers Company Database.
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