According to GoCardless, the acquisition will considerably enhance its indirect channel proposition apart from solidifying its position as a primary payment provider for both existing and new customer segments
EML Payments to divest Nuapay brand to GoCardless. (Credit: Gerd Altmann from Pixabay)
GoCardless, a UK-based bank payment company, has agreed to acquire Sentenial, operating globally under the Nuapay brand, from EML Payments, for an undisclosed price.
EML Payments is an Australia-based payments company. Nuapay is its open banking business.
According to GoCardless, the acquisition will considerably enhance its indirect channel proposition. Besides, it is expected to solidify its position as a primary payment provider for both existing and new customer segments, including independent software vendors (ISVs) and payment service providers (PSPs).
Furthermore, by integrating Nuapay’s offerings into its banking payment platform, GoCardless intends to expedite the introduction of new disbursement capabilities to its clientele and potential customers.
The integration will allow GoCardless to explore new vertical sectors and utilise cases in areas such as payroll, financial services, utilities, insurance, gaming, and gambling.
GoCardless said that businesses and partners will reap the benefits of a comprehensive service provider with a strong focus on bank payments, facilitating disbursements and payment collection through direct debit, real-time payments, and open banking. Additionally, enhanced features will be available to improve payment success rates and mitigate fraud.
GoCardless co-founder and CEO Hiroki Takeuchi said: “Nuapay is an established account-to-account payment provider and open banking specialist with a blue chip customer base. Its business is perfectly aligned to our growth strategy, and will accelerate our vision to become the world’s bank payment network.”
The deal is contingent on the receipt of regulatory approvals.
Nuapay co-founder and CEO Brian Hanrahan said: “How the world pays and gets paid is being transformed, with account-to-account payments and open banking playing the central role in that shift.
“Building on that shared vision, this acquisition will result in a combined organisation with deep domestic and international payments and open banking expertise plus the scale to harness these opportunities for our clients and partners.”