Bank payment company GoCardless has completed the acquisition of Sentenial Ltd, operating under the Nuapaybrand, from EML Payments.
The deal, which was announced in March, will significantly scale GoCardless’ indirect channel proposition and fast-track the rollout of new capabilities that will enable customers to send as well as collect money through GoCardless.
Nuapay is a company that specialises in providing advanced payment solutions, focusing on Account-to-Account (A2A) payments and leveraging Open Banking technology.
Introducing these capabilities will be the first product priority for GoCardless, allowing the fintech 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.”
Brian Hanrahan, CEO of Nuapay, said: “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.”
The news follows GoCardless’s announcement in August that it was partnering with Future Ticketing, an API-first ticketing solution for sports, visitor attractions, venues and event organisers, to make the purchase of tickets and memberships easier and more affordable for consumers in the UK and Ireland.
By integrating GoCardless directly into its platform, Future Ticketing can now offer customers — which include clubs in the English Football League, Scottish Premier League,Super League and Elite Ice Hockey League — the ability to collect payments via Direct Debit.
This means that season ticket holders, festival-goers and other event attendees will be able to split the cost of their ticket into smaller amounts to be paid over several months through Direct Debit. Now it will also be possible to add Nuapay’s direct bank payments to its roster.
