GoCardless Signs Agreement to Acquire Nuapay

Acquisition to create a full-service bank payment provider that will accelerate the execution of GoCardless’ strategy

LONDON & SYDNEY–(BUSINESS WIRE)–GoCardless, the bank payment company, has signed an agreement to acquire Sentenial Ltd, operating globally under the Nuapay brand, from EML Payments Limited (ASX: EML) subject to regulatory approvals.

The acquisition will significantly scale GoCardless’ indirect channel proposition, consolidating its position as a key payment provider to existing and new customer segments including Independent Software Vendors (ISVs) and Payment Service Providers (PSPs).

In addition, by incorporating Nuapay’s offering into its bank payment platform, GoCardless will fast-track the rollout of new disbursement capabilities to its customers and prospects. This will enable GoCardless to unlock new vertical sectors and use cases in areas including payroll, financial services, utilities, insurance, gaming and gambling.

Businesses and partners will benefit from a full-service provider with a relentless focus on bank payments, enabling disbursements and payment collection through direct debit, real-time payments and open banking, alongside enhanced features for improving payment success and reducing fraud.

Hiroki Takeuchi, co-founder and CEO of GoCardless, said: “Nuapay is an established account-to-account payment provider and open banking specialist with a blue chip customer base. Its business is perfectly aligned to our growth strategy, and will accelerate our vision to become the world’s bank payment network.”

Brian Hanrahan, co-founder and CEO of Nuapay, said: “How the world pays and gets paid is being transformed, with account-to-account payments and open banking playing the central role in that shift. Building on that shared vision, this acquisition will result in a combined organisation with deep domestic and international payments and open banking expertise plus the scale to harness these opportunities for our clients and partners.”

The announcement is the latest milestone for GoCardless as it accelerates its path to profitability. Over the past 12 months it announced the launch of GoCardless Embed, its white-label product to PSPs to acquire customers at scale; in addition to new and renewed customer and partner signings, including JustGiving and Xero.

About GoCardless

GoCardless is a global bank payment company. We help more than 85,000 businesses, from start-ups to household names, collect both recurring and one-off payments, without the chasing, stress or expensive fees. Each year GoCardless processes more than US$35 billion of payments across 30+ countries. Our acquisition of Nordigen means we’re also helping businesses make faster and more informed decisions through easy access to bank account data. We are headquartered in the UK, with additional offices in Australia, France, Latvia and the United States. For more information, please visit www.gocardless.com and follow us on Twitter @GoCardless.

About EML Payments and Nuapay

EML Payments is a global payments company that operates in Australia, the UK, Europe, and the US. Our customers are diverse and include major banks in Europe, government, retail brands and financial services companies. For more information: EMLPayments.com

Nuapay is EML Payments’ market-leading Open Banking business. Direct Debit, Credit Transfers and Instant Payment products are also available through one single ‘bank-grade’ platform, easily accessible through industry-leading APIs. Businesses and their customers benefit from the immediacy of Open Banking and account-2-account payments and can save time, money and resources at every turn. This is payments as it should be.

For more on Nuapay visit the website here

© 2024 GoCardless Ltd. All Rights Reserved. GoCardless is a registered trademark of GoCardless Ltd in multiple countries. Third party trademarks mentioned above are owned by their respective companies. Unless explicitly identified as such, nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of GoCardless Ltd. or any aspect of this press release.

Contacts

For more information, please contact

press@gocardless.com

EML Media enquiries (Australia)

Lauren Thompson

M +61 438 954 729

Celia Moore

M +61 432 344 069

Investor enquiries

M +61 455 470 055

E investorrelations@emlpayments.com