Bank payment company GoCardless has finalised the acquisition of Sentenial Ltd, which operates under the Nuapay brand, from EML Payments.
The acquisition, initially announced in March, is poised to significantly bolster GoCardless’ indirect channel proposition and expedite the introduction of new functionalities, enabling customers to send, as well as collect, money through GoCardless.
The rollout of the new capabilities will be a priority for GoCardless, given that these will allow it to unlock new vertical sectors and use cases in areas including payroll, financial services, utilities, insurance, gaming and gambling.
Paul Stoddart, president at GoCardless, said: “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.”
In June, Nuapay became an approved supplier on the UK’s Public Sector Open Banking procurement system.
By being added to the Crown Commercial Service Open Banking Dynamic Purchasing System, Nuapay is able to compete for tenders for payment initiation services issued by public sector bodies with access to the DPS.
Brian Hanrahan, Nuapay’s chief executive officer added: “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.”
Last month, GoCardless announced the launch of GoCardless for Salesforce on Salesforce AppExchange, enabling customers to access its payments platform directly within Salesforce.
Andy Wiggan, chief product officer at GoCardless, is speaking at Open Banking Expo UK & Europe in London on 15-16 October. Find out more about the agenda and get your ticket here.
