Nuapay is pleased to announce its multi-award-winning open banking payments platform has been expanded to Spain, the Netherlands, Belgium and Ireland, covering 95% of account holders. This revolutionary payment system enables frictionless customer journeys with faster and more secure payments by allowing end-users to initiate straight from their bank accounts.
Nuapay (part of EML Payments ASX: EML), Europe’s leading open banking and Account-2-Account payments solution provider, has announced extended coverage of Open Banking payment connections (Payment Initiation Service – PIS) in Spain, The Netherlands, Belgium and Ireland. This brings the population covered by Nuapay’s open banking solutions to 300+ million people across most of Western Europe. Furthermore, the company continues to invest in further expansion of its reach both across Europe and beyond, 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 which, according to a recent ECB report, costs European businesses more than €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 are delighted to announce the extension of Nuapay’s first-class open banking network and payments products to all major banks in Spain, The Netherlands, Belgium and Ireland.” – commented Brian Hanrahan, CEO of Nuapay SAS.
 European Central Bank, Seventh Report on Card Fraud, October 2021 https://www.ecb.europa.eu/pub/pdf/cardfraud/ecb.cardfraudreport202110~cac4c418e8.en.pdf