- GoCardless, a UK-based paytech company, has entered into an agreement to acquire Nuapay, the payment services subsidiary of EML Payments, for an undisclosed sum.
- The acquisition is expected to expand GoCardless’ bank payment platform to a broader blue-chip customer base, including independent software vendors (ISVs) and payment service providers (PSPs).
- Nuapay, founded in 2003, offers an account-to-account platform facilitating various payment services such as direct debits, instant payments, credit transfers, and embedded accounts for businesses through open banking technology.
- EML Payments acquired Sentenial, the parent company of Nuapay, in 2021 for €110 million.
- GoCardless plans to integrate Nuapay’s services to unlock new vertical sectors and use cases, particularly in payroll, utilities, insurance, gaming, and gambling, building upon its own open banking payments service launched in April 2021.
- In addition to the acquisition of Nuapay, GoCardless acquired Nordigen, an open banking data provider based in Latvia, in 2022, expanding its reach across Europe.
- Details regarding the transaction’s closing date and other specifics have not been disclosed at this time.
