Nuapay teams up with Cybersource

Wednesday 7 October 2020 10:49 CET | News

Provider of Account-to-Account payment solutions Nuapay, a Sentenial company, has announced an agreement with Cybersource, Visa’s global payment management platform. 

The agreement expands Cybersource’s existing alternative payments suite, enabling customers to further tap into Europe’s growing demand for recurring payments using Nuapay Direct Debit solutions. 

Much of the growth in recurring payments is being delivered by the growth in subscription services, particularly in the current environment—with subscription usage in areas such as digital news and media, as well as video streaming seeing a spike recently. The Subscription Impact Report: Covid-19 Edition, from Zuora, indicates that more than 85% of subscription businesses are maintaining or growing membership during this time, with 1 in 5 subscription businesses actually accelerating their growth. Even before the pandemic, 71% of adults internationally used at least one subscription service, and in Europe households spent an average of EUR 130 per month on subscriptions. The sector is projected to continue its rapid growth, with Gartner predicting that by 2023, 75% of organisations selling direct to consumers will offer subscription services.  

Nuapay’s end-to-end cloud environment for collecting recurring payments—covering payer sign-up through to managing money received—has been integrated into Cybersource’s payment gateway. This enables Cybersource’s existing customers to rapidly leverage Nuapay’s solutions, including SEPA and Bacs schemes. Merchants of all sizes can set up and manage the recurring payments necessary for subscription services.

The agreement expands Cybersource’s recurring payments offer to its global merchant and acquirer community. Nuapay offers Cybersource’s clients both a Commercial Bureau and Facilities Management solution for Bacs, as well as solutions for SEPA Core (consumer payments) and SEPA Business-to-Business (B2B) schemes. 

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Keywords: Nuapay, Cybersource, recurring payments, payments , subscriptions
Categories: Banking & Fintech
Countries: World
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Banking & Fintech

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