SPECIALIST INSIGHT
The recent acquisition of Nuapay by GoCardless seems poised to significantly impact the payments industry . Could you elaborate on how this acquisition aligns with GoCardless ’ strategic vision and enhances its position in the market ?
We ’ re really excited about the Nuapay acquisition and we ’ re confident that it ’ ll accelerate the execution of our strategy .
The acquisition will create a fullservice bank payment provider : one that can collect and pay out across more than 30 countries , offering instant and standard payment timings and leveraging open banking to enhance and improve the overall merchant and end-customer experience .
SACTIONS : ING WAYS
they have ever before , and this is within a wider industry that is already red-hot . GoCardless is at the forefront of bank payments and I ’ m excited to be part of it . It ’ s not every day you get to build a new type of payment network that will rival the Visas and Mastercards of the world , but that ’ s what we aim to do .
As someone deeply entrenched in the FinTech landscape , what are some of the most pressing challenges you ’ ve faced in your career , and how have you navigated through them , especially in light of the recent acquisition of Nuapay by GoCardless ?
When you ’ ve been around as long as I have , you ’ ve seen pretty much every kind of challenge . Some are perennial , such as how to scale without significantly increasing your costs . Others are cyclical , such as how to thrive in the face of tough macroeconomic conditions . In each scenario , I ’ ve found that proactive and open-minded companies come out on top . These are businesses that anticipate – or at
least recognise very early on because they have invested in a combination of smarts and experience – that the world around them is changing and they need to adapt , fast . These organisations are also open to organic or inorganic growth , though they are exceptionally disciplined in the latter . This means only engaging in M & A if the transaction is very clearly aligned with their strategy and having a good integration plan .
At GoCardless we recognised a few years ago that the clock was ticking on the low-interest rate environment , and that growth at all costs would not be the metric upon which start-ups would be judged . We acted quickly to rationalise our activities and only focus on the most impactful parts of the business , the areas where we have a competitive advantage . We also looked at different ways to accelerate our growth including M & A . Our latest acquisition is Nuapay , will help us scale the channels that are currently working really well for us , in addition to adding new capabilities that would have taken us longer and cost more to build .
The deal also strengthens our indirect channel proposition . This is the channel where we provide the best of GoCardless through our network of over 350 partners . It includes GoCardless Embed , our white-labelled product which enables other payment service providers ( PSPs ) to offer our bank payments to the thousands of customers they serve . Acquiring Nuapay will accelerate our investment and growth in this critical part of our business .
In addition , by incorporating Nuapay ’ s offering into our bank payment platform , we will fast-track the rollout of disbursements to our customers and prospects . This means we can unlock new industry verticals and use cases in areas including insurance , savings and investments , payroll , utilities , gaming and gambling .
With the emergence of technologies like open banking and real-time payments , how do you foresee the landscape of bank payments evolving in the near future , and what role do you see GoCardless playing in driving innovation within this space ?
According to a recent McKinsey report , the global payments market is now worth US $ 2.2 trillion , with projected growth of more than 7 % per year over the next few years . Much of that will be driven by realtime payments . www . intelligentfin . tech
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