GoCardless, a global leader in direct bank payments, has successfully completed the acquisition of Nuapay, a company specializing in Open Banking and account-to-account payments, from the publicly listed Australian firm EML Payments Limited. Initially announced in March and now cleared by regulators, this strategic acquisition is set to enhance GoCardless’s indirect channel offerings and expedite new product rollouts, allowing customers to both send and receive money more efficiently. Nuapay processes over $42 billion annually and provides outsourcing services to major banks and payment providers. The merger aims to unlock new vertical sectors including payroll, financial services, and utilities, among others, thus reinforcing GoCardless’s market position as a full-service bank payment provider. Both companies’ executives expressed their enthusiasm about the acquisition, highlighting significant growth opportunities and mutual benefits.
Financial Technology (FinTech), Payments, Banking,United Kingdom, Australia
https://businesscloud.co.uk/news/gocardless-finalises-deal-for-fellow-london-fintech-giant-nuapay/