Nuapay is now connected with 55 banks operating in France connecting 190 million French bank accounts. Nuapay’s French merchants will now be able to accept instant payments via Open Banking from customers, according to a company release.
Nuapay is a subsidiary of Sentenial. The company reports processing €40 billion in payments every year for many of the world’s leading banks, payment providers, and merchants.
Nuapay’s service integrates banks including Caisses Régionales du Crédit Agricole, Caisse d’Epargne / Banque Populaire, La Banque Postale, Société Générale, BNP Paribas, Crédit Mutuel, LCL, and Crédit Mutuel Arkéa to initiate payments instantly via Open Banking.
Nuapay anticipates that it will reach approximately 91.5% of all French payers. Nuapay’s solution, enables customers to transfer payments directly from their bank account to merchants, who receive funds instantly. The solution can be used online for e-commerce, in-store through QR code payments, and in-app ordering – something that has risen in popularity during the COVID-19 pandemic.
Pierre Delmotte, Business Development Manager, responsible for the European market commented on the news:
“This is a tremendous opportunity for French merchants looking for a faster, smoother and more cost effective payment solution. Access to our Open Banking platform, through easy to use APIs, will allow ecommerce and POS retailers to save time and resources, as well as broaden their service offerings to include subscriptions, instalment plans and instant refunds.”
Nuapay reports that it is currently extending its Open Banking coverage across Germany, Italy, Spain, the Netherlands, Belgium, and Ireland.