back Back

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

By Joy Dumasia

May 24, 2022

  • Account to Account Payments
  • API
  • B2B
Share

Nuapay, EML Payments Limited’s 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.

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

Brian Hanrahan, CEO EML’s Nuapay Business Division, said: ”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.” 

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.

Recently, IBS Intelligence reported that EML Payments Limited’s client REPX has launched an initial rollout of 20,000 private label gift cards designed specifically for dedicated fans of the Serie A top-flight Italian football side, AC Milan. The San Siro side’s Red And Black fans can access the cards at large-scale retailers thanks to Epipoli‘s reach across Italy, expanding EML’s global sporting digital footprint.

Previous Article

May 24, 2022

Temenos launches ESG Investing-as-a-Service for Banks and Wealth Managers

Read More
Next Article

May 24, 2022

Mahagram partners with Induslnd Bank to push digital payments in rural India

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

Account to Account Payments

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 12, 2024

Nuvei and Mastercard team to enable crypto to fiat conversion

Read More

July 12, 2024

SaaScada & Partes sign embedded finance partnership in Switzerland

Read More

July 11, 2024

BR-DGE launches white-label payment orchestration solution

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024