Multi award winning Payments Gateway Cardstream has announced that it will integrate with Nuapay to provide Open Banking capabilities.
The partnership will enable Cardstream’s Open Payment Network of hundreds of White Label Partners, including major ISO (Independent Sales Organisation) and ISV (Independent Software Vendor) resellers, to offer Nuapay’s pioneering collection services and instant Open Banking payment services to its customers in 28 EU and UK markets.
In addition, Cardstream’s rapidly growing user base of Merchants can enable Pay Now and Pay In Instalments via Nuapay’s Account2Account (A2A) payment services, accessible through all existing integration methods as well as major E-Commerce platforms, such as Magento and WooCommerce.
The collaboration will future-proof A2A payments by enabling Merchants to combine the security and speed of Open Banking transactions with the convenience and reliability of Direct Debit. This fills a crucial gap in the market and offers customers instant refunds, building loyalty and deepening customer relationships.
Merchants are able to access funds instantly and at a lower transaction cost, a cashflow advantage over many other payment methods. Nuapay’s leading technology also enables Merchants to collect future-dated payments.
Open Banking payments have the highest level of security, using Secure Customer Authentication (SCA), reducing fraud risk and saving Merchants time and money. Merchants using Cardstream will benefit from faster access to funds; auto-reconciliation; and reduced costs. In turn, payers will benefit from a seamless user experience; instant access to refund credits; and the ability to leverage biometric authentication for a speedy payment process.
Brian Hanrahan, CEO, Nuapay, comments: ”Every time a payment solution provider integrates A2A functionality, it’s another step forward for open banking adoption. Our partnership with Cardstream will deliver open banking payments to thousands more UK merchants, enabling hundreds of thousands of consumers to experience seamless eCommerce payments, bringing us significantly closer to the open banking tipping point. Cardstream prioritises open, transparent payments, and we’re delighted to be teaming to deliver market-leading payment solutions.”
Adam Sharpe, CEO, Cardstream, adds: ”We’re very excited to partner with Nuapay in offering merchants access to open banking technology. A2A payments have many compelling benefits for merchants and consumers, and Nuapay’s offering stands head and shoulders above competitors, thanks to its superior platform and unparalleled industry knowledge.”
About EML Payments and Nuapay
Wherever money is in motion, EML Payments 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 Payments’ 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 Payments visit the website here or check out other recent media in the Newsroom here – www.emlpayments.com/newsroom
For more on Nuapay visit the website here – www.nuapay.com/en
Cardstream is an award-winning payments gateway independent of individual acquirers, markets or geographical locations, giving it unlimited ability to integrate globally into any trading market, acquirer or locality. Its innovative route to market is via channel Partners, whose Merchant customers often occupy niche or specialised market verticals.
Cardstream powers the Open®Payment Network (OPN®), which provides merchants globally with access to an ever-expanding ecosystem of payment gateway and ancillary services via a simple single API. Now accompanied by its Open Banking Network (OBN®), OPN’s® commitment to members is that their services will never be copied or “own branded”. OPN’s® fair, collegial environment and instant access to a rapidly expanding merchant base continues to influence payment providers of all sizes to contribute and compete on a fair and level playing field.
To learn more about Cardstream please visit – www.cardstream.com
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