GoCardless set to Acquire Nuapay From EML Payments
GoCardless, the bank payments fintech, has agreed to acquire its competitor Nuapay for an undisclosed amount from EML Payments.
Subject to regulatory approval, the deal comes as part of GoCardless’ accelerated strategy, scaling its indirect channel proposition and consolidating its position as a key payments provider to existing and new customer segments. These include Independent Software Vendors (ISVs) and Payment Service Providers (PSPs).
GoCardless: The full-service bank payments provider
On its mission to become a full-service bank payments provider, GoCardless’ acquisition of Nuapay also enables it to fast-track the rollout of new disbursement capabilities to its customers and prospects.
GoCardless says this will support its efforts to unlock new vertical sectors and use cases in areas such as payroll, financial services, utilities, insurance and gaming.
Hiroki Takeuchi, Co-founder and CEO of GoCardless says: “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.”
As a full-service provider, GoCardless hopes to offer its customers a concerted focus on bank payments, while facilitating the distribution of funds and collection of payments via direct debit, instant payments and open banking, and incorporating advanced functionalities to enhance payment completion rates and mitigate the risks of fraud.
Brian Hanrahan, Co-founder and CEO of Nuapay, adds: “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.”
GoCardless’ latest acquisition announcement comes after its launch of GoCardless Embed, a white-label product helping PSPs acquire customers at scale.
It also follows new and renewed customer and partner signings with online fundraiser JustGiving and cloud-based accounting software provider Xero.
GoCardless has also been vocal in its support of promoting women in fintech in recent times, with its VP of Corporate Development Kamila McWilliam discussing the need to foster a diverse, equitable and inclusive workplace culture at FinTech LIVE London 2023.
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