Banking Circle Group expands its financial ecosystem with the acquisition of SEPAexpress
By Joy Dumasia
SEPAexpress, which provides trusted and seamless, white-labelled account-to-account (A2A) payments for Payments Service Providers (PSPs), merchants and corporates in Europe, has been acquired by Banking Circle Group, the next generation financial technology platform for global commerce.
Less than five years after bringing its first solution to market, SEPAexpress now processes millions of monthly transactions. By becoming part of the Banking Circle Group ecosystem, SEPAexpress gains immediate access to technology infrastructure and financial resources to accelerate its growth.
As companies digitise their customer and supply-chain interactions, there is a growing need for modern aged financial solutions. With offices worldwide and payment flows of more than EUR 200b, the Banking Circle Group ecosystem meets that need, serving payment businesses, banks, global markets and online merchants. The addition of SEPAexpress to the Banking Circle Group ecosystem complements its rich set of e-commerce solutions, including embedded finance, business payments & card issuing, and B2B Buy Now Pay Later.
Franz Guttenberger, CEO of SEPAexpress, said: “By joining the Banking Circle Group ecosystem, we will be able to capitalise on the established infrastructure and financial resources to realise our vision of extending our services across Europe. Businesses across the region need to be able to focus on their customer propositions and, by utilising our services, they don’t need to worry about the payment process.”
Anders la Cour, Chief Executive Officer of Banking Circle Group, said: “The quality and simplicity of the solutions from SEPAexpress are without compare in the industry. Its suite of offerings is a natural fit with the Banking Circle Group ecosystem, and we’re excited to have the company on board to serve the ever-growing payment needs of businesses worldwide. We look forward to working closely with SEPAexpress and welcome the entire team to the Group.”
Launched to the market in 2017, SEPAexpress has rapidly established a reputation for innovation, enabling businesses to process Direct Debits faster, cheaper and with less risk. It now has ambitions to extend further in the account-to-account space with Open Banking, upcoming Request to Pay and embedded risk management services and will be able to leverage the global network of more than 200 Payment businesses, Banks and Marketplaces already connected to the Banking Circle Group ecosystem.
Capitalising on being part of the Banking Circle Group ecosystem, SEPAexpress aims to be at the forefront of this growth, making payments as user-friendly and straightforward as possible. SEPAexpress will continue to operate autonomously and aims for triple-digit growth in 2022.