LONDON--(BUSINESS WIRE)--Nuapay (a business of EML Payments (ASX: EML) (S&P/ASX 200), one of Europe's leading open banking and Account-2-Account payments solution providers, has announced expansion of its Open Banking payment connections (Payment Initiation Service - PIS) in Spain, Ireland, Belgium and The Netherlands. This brings the population covered by Nuapay's open banking solutions to almost 300 million people across most of Western Europe. Nuapay is continuing to invest in further expanding its reach both across Europe and globally, with more announcements coming soon.
Nuapay enables merchants, payment service providers, banks, fintechs and other software businesses to embed Open Banking within their services and reap the benefits of Account-2-Account payments at scale. With a single open API, Nuapay enables a seamless end-user experience for payers and helps merchants reduce the costs associated with card fraud. According to the recent European Central Bank's Seventh Report On Card Fraud, fraud costs European businesses more than Euro 1.8 billion annually.
''Open banking continues to transform the payments landscape by making faster, more secure and more cost-effective payments a reality. We're delighted to announce the extension of Nuapay's first-class open banking network and payments products to all major banks in Spain, Ireland, Belgium and The Netherlands,'' commented Brian Hanrahan, CEO at Nuapay.
Nuapay is a pioneer of Open Banking and is the industry's leading provider of Account-2-Account payment solutions. Today, we offer our partners a comprehensive A2A payment solution.
Our Open Banking products are unique in today’s market: Refunds? No problem. Instalment plans? We power them. We also offer customers our Direct Debit, Credit Transfers and Instant Payment products all through one platform, giving you a full payment solution powered by our Nuapay accounts, easy to integrate through our industry-leading APIs.
We continually work tirelessly to reinvent what's possible with our banking and payment solutions, removing inefficiencies and unnecessary costs, saving you time, money and resources at every turn. This is payments as it should be.
About EML Payments
EML provides an innovative payment solutions platform, helping businesses all over the world create awesome customer experiences. Wherever money is in motion, our agile technology can power the payment process, so money can be moved quickly, conveniently and securely. We offer market-leading programme management and highly skilled payments expertise to create customisable feature-rich solutions for businesses, brands and their customers.
Come and explore the many opportunities our platform has to offer by visiting us at: EMLPayments.com