EML Open Banking expands into 20 new countries to complete its coverage of Europe


Enter Wall Street with StreetInsider Premium. Claim your one week free trial here.


LONDON–(BUSINESS WIRE)–
Nuapay (open banking business of EML Payments Limited (ASX:EML))is now connected to banks in 20 more countries across Europe, becoming one of the first open banking operators to provide full connectivity in the Eurozone and expanding into Eastern Europe and non-Nordic countries. Europeans.

This press release is multimedia. See the full version here: https://www.businesswire.com/news/home/20220524005293/en/

Nuapay completes its Open Banking coverage of Europe, which has the potential to reach 420 million people. (Photo: BusinessWire)

Nuapay’s connectivity reaches 2,250 banks in 28 countries across Europe, with the potential to reach 420 million* customers through its world-class banking platform. Newly connected countries are Austria, Czech Republic, Estonia, Finland, Romania, Slovenia and Sweden.

”We are excited to grow our open banking presence in Central and Eastern Europe and Scandinavia and that Nuapay is emerging as one of the only providers with an extensive Europe-wide reach” mentioned Brian Hanrahan, CEO of EML’s Nuapay business division.

At the end of 2021, open banking leader UK saw a 500% increase in open banking payments in 12 months.* Also in the UK, 70%* of lenders plan to use the open banking over the next two years, a surge from the current 26%.

EML’s unique offering consolidates card issuance, payment accounts, open banking, payments and direct debits under one roof to help exceed expectations for businesses seeking greater value from payments . Its one-stop-shop approach has proven particularly attractive to B2B (Business-to-Business) companies that need to issue money and collect payments in e-commerce, BNPL (Buy Now Pay Later ) and loans.

Additionally, Nuapay, a pioneer in account-to-account payments with 18 years of experience, enables both open banking payments and data sharing and is a direct member of UK Faster Payments and an indirect participating bank in the payment network. instant SEPA, giving it industry-leading real-time payment capabilities.

Meet our team at Silver 20/20 Europe in Amsterdam, the Netherlands from June 7 to 9 at stand E32.

About EML Payments and Nuapay

Wherever money moves, EML helps businesses create exceptional payment experiences for their customers. Our technology powers the payment process, moving money quickly, easily and securely, while our program management expertise creates configurable, feature-rich payment solutions.

Nuapay is Open Banking’s leading business in the EML market. Direct debit, wire transfer and instant payment products are also available through a single “bank-grade” platform, easily accessible through state-of-the-art APIs. Companies and their customers benefit from the immediacy of Open Banking and account-to-account payments and can save time, money and resources at all times. These are payments as they should be.

To learn more about EML, visit the website here or check out other recent media in the newsroom here.

To learn more about Nuapay, visit the website here.

Sources:

*Banking population in Europe in 2019, by country, Statista, March 8, 2022 https://www.statista.com/statistics/944142/banking-population-in-europe-by-country/

* 5 million users – open banking growth unveiled, The Open Banking Implementation Entity (OBIE), 24 February 2022 https://www.openbanking.org.uk/news/5-million-users-open-banking-growth-unpacked/

* Survey indicates open banking will spread rapidly among UK lenders, 13 December 2021, Insider Intelligence.

Sarah Bowles, Group Digital Director

EML Payments Limited (ASX:EML)

[email protected]

+61 439 730 968

Marie O’Riordan, Global Director of Public Relations

EML Payments Limited (ASX:EML)

[email protected] / [email protected]

+44 207 183 5856 / +353 46 94 2010 9

Source: EML Payments Limited

About Kristina McManus

Check Also

Six easy ways to reduce your debt, from cut loans to flash credit cards

PRICES are skyrocketing from gas pumps to supermarket checkouts, but the pressure on the cost …