GoCardless enhances with acquisition of Nuapay from EML Payments

Bank payment company GoCardless has completed the acquisition of Sentenial, which operates globally under the Nuapay brand, from EML Payments. The announcement follows the initial disclosure of the deal in March.

This acquisition will enable GoCardless to enhance its payout and disbursement capabilities for its local customers, complementing its existing direct debit products. Consequently, GoCardless is set to strengthen its presence in the Australian market and expand its offerings into new sectors such as payroll, financial services, utilities, and insurance.

The acquisition will significantly scale GoCardless' indirect channel proposition and expedite the rollout of capabilities allowing customers to send and collect money through the platform. Integrating these functionalities will be GoCardless's top product priority, facilitating entry into vertical sectors, including gaming and gambling, payroll, and financial services.

Paul Stoddart, President at GoCardless, noted, "Nuapay adds breadth and depth to our offering, positioning GoCardless as a full-service bank payment provider. The ability to both send and collect money via our platform, plus products that help merchants improve payment success and reduce fraud, will make GoCardless more competitive in our existing markets and help us enter new ones. This will ultimately accelerate the delivery of our strategy."

Brian Hanrahan, CEO of Nuapay, expressed enthusiasm about the acquisition, stating, "We're excited to join GoCardless, a company with an amazing track record and great growth prospects. GoCardless has been making huge strides towards its vision of becoming the world's bank payment network and given the rapid developments in account-to-account payments, it's a great time to come onboard and contribute to the journey."

GoCardless' acquisition aims to diversify its product offerings and enhance its ability to serve a broader range of clients by offering both collection and disbursement services. This development is seen as a strategic move to consolidate its position as a comprehensive payment solutions provider capable of addressing more complex financial transactions across various industries.

Nuapay's expertise in account-to-account payments is expected to bring significant value to GoCardless, allowing it to improve operational efficiencies and provide a more robust service to its global customer base. The collaboration is projected to streamline businesses' payment processes, reducing the time and costs typically associated with these transactions.

Integrating Nuapay's capabilities will also position GoCardless favourably in the face of growing demand for more agile and efficient payment solutions in a rapidly evolving financial landscape. By bridging the gap between collection and disbursement, GoCardless aims to offer a holistic service that meets the expanding needs of the businesses it serves.

The acquisition is regarded as a milestone for GoCardless as it continues its expansion and strives to build a more connected and efficient global payment network. The company's ongoing efforts to innovate and adapt to market demands reflect its commitment to providing comprehensive solutions that simplify the complexities of financial transactions for businesses worldwide.