EML Open Banking Expands Into 20 New Countries To Complete Its Coverage Of Europe
May 24 2022 - 03:00AM
Business Wire
Nuapay (EML Payments Limited's (ASX: EML) Open Banking
business), is now connected to banks in another 20 countries in
Europe, becoming one of the first open banking operators to provide
complete connectivity across the Eurozone and expand into Eastern
Europe and non-Euro Nordics.
This press release features multimedia. View
the full release 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: Business Wire)
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 include
Austria, Czech Republic, Estonia, Finland, Romania, Slovenia and
Sweden.
''We're delighted to grow our open banking presence in Central
and Eastern Europe and Scandinavia and for Nuapay to emerge as one
of the only providers with an expansive Europe-wide reach,'' said
Brian Hanrahan, CEO, EML's Nuapay Business Division.
At the end of 2021, open banking front runner, the U.K.,
experienced a 500% increase in open banking payments in 12 months.*
Also in the U.K., 70%* of lenders expect to use open banking within
the next two years, a surge from the present 26%.
EML's unique offering powers card issuing, payment accounts,
open banking, payouts and direct debits under one roof to help
exceed the expectations of businesses seeking more value from
payments. Its one-stop-shop approach has proven particularly
attractive to B2B (Business-to-Business) companies who need to
issue money and collect payments in e-commerce, BNPL (Buy Now Pay
Later) and lending.
Additionally, Nuapay, an Account-2-Account payments pioneer with
18 years of experience, enables both open banking payments and data
sharing and is a direct member of U.K. Faster Payments and an
indirect participant bank in the SEPA Instant payment network,
giving it industry-leading real-time payments capabilities.
Meet our team at Money 20/20 Europe in Amsterdam, The
Netherlands from June 7-9 at stand E32.
About EML Payments and Nuapay
Wherever money is in motion, EML helps businesses create awesome
payments experiences for their customers. Our technology powers the
payments process, moving money quickly, conveniently and securely
while our programme management expertise creates superior
configurable, feature-rich payments solutions.
Nuapay is EML's 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 EML visit the website here or check out other recent
media in the Newsroom here.
For more on Nuapay visit the website here.
Sources:
*Banking population in Europe in 2019, by country, Statista,
Mar. 8th, 2022
https://www.statista.com/statistics/944142/banking-population-in-europe-by-country/
*5 million users – open banking growth unpacked, The Open
Banking Implementation Entity (OBIE), Feb. 24, 2022
https://www.openbanking.org.uk/news/5-million-users-open-banking-growth-unpacked/
*Survey says open banking will spread rapidly among U.K.
lenders, Dec 13, 2021, Insider Intelligence.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220524005293/en/
Sarah Bowles, Group Chief Digital Officer EML Payments
Limited (ASX: EML) sbowles@emlpayments.com +61 439 730 968
Marie O’Riordan, Global Director of Public Relations
EML Payments Limited (ASX: EML)
marie.oriordan@emlpayments.com / pr@emlpayments.com +44 207 183
5856 / +353 46 94 2010 9
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