Fabrick acquires mobile payments firm Judopay, eyes expansion in UK

By Gloria Methri

Fabrick, a European Open Finance specialist has announced the acquisition of Judopay, a UK-based mobile payments company. The deal will allow Fabrick’s Payment Orchestra to benefit from Judopay’s innovation expertise in digital commerce.

Together, the companies will define new models and standards to provide smoother payment solutions, frictionless processes, and seamless check-out experiences for both merchants and customers.

The acquisition will expand Fabrick’s proprietary technology, enabling the company to offer a better service to merchants who can manage all the financial data flows from a single point, even while accepting payments from multiple gateways.

The deal will enhance Fabrick Payment Orchestra, a payment orchestration solution that is transforming the way businesses accept payments. By combining multiple payment processes, Payment Orchestra optimises payment processing at each stage of the payment flow, reducing the transaction time, costs, and improving the customer checkout experience, and decreasing the cart abandonment rate.

This acquisition also marks an important step in Fabrick’s expansion into the UK market – the largest
digital payments market in Europe – where 95% of people have access to the internet and 97% have a bank account which has fostered widescale digital payments adoption.

Moreover, 65% of the population has a credit card and card payments account for more than half of all payments in the country (51%). The propensity for innovation in the UK is reflected in data showing that 41% of transactions are being made using alternative payment methods.

Furthermore, the eCommerce industry in the UK has an estimated overall revenue of $199.9 billion in 2022. This makes the UK the ideal country to develop new models and standards of embedded finance based on the most advanced and complete payment solutions to support corporations in taking advantage of the current revolution in addition to representing a large addressable market.