GoCardless, a leading bank payment company, has completed its acquisition of Sentenial Ltd, known for its Nuapay brand, from EML Payments Limited.
This acquisition, first announced in March, marks a major step forward for GoCardless in expanding its service offerings and enhancing its position in the payment solutions market, according to Finextra.
The integration of Nuapay’s services will allow GoCardless to scale up its indirect channels and accelerate the launch of new capabilities.
For the first time, customers will be able to both send and collect payments through GoCardless, which the company has identified as a top priority for its product development. These new features will enable GoCardless to enter a wider range of industries, such as payroll, financial services, utilities, insurance, gaming, and gambling.
Paul Stoddart, President of GoCardless, highlighted the significance of the deal, stating, “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, commenting, “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.”
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