GoCardless has completed its acquisition of Nuapay from EML Payments Ltd, extending the payments providers reach across multiple business sectors.
The acquisition was first announced in March, subject to French and British regulatory approval. Both GoCardless and Nuapay are headqarutered in London, whilst EML Payments is an ASX-listed enterprise.
GoCardless believes that the takeover will enable it to enhance its indirect channel proposition and speed up its ability to enable customers to send and collect money via its platform.
“Nuapay adds breadth and depth to our offering, positioning GoCardless as a full-service bank payment provider,” added Paul Stoddart, President at GoCardless.
“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.”
The firm has also reiterated its assertion – made when the transaction was first announced back in March – that the acquisition will broaden its reach, specifically in the payroll, financial service,utilities, insurance, gaming and gambling industries.
“We’re excited to join GoCardless, a company with an amazing track record and great growth prospects,” said Brian Hanrahan, CEO of Nuapay.
“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.”