Worldpay, a global payments company, has selected Nuapay from Sentenial to provide its customers with a new solution for recurring payments. Sentenial specialises in bank Account-2-Account based payments and by introducing the Nuapay service, Worldpay’s merchants will benefit from a comprehensive service for managing direct debits across Europe. Nuapay is ideal for handling recurring payments driven by the expanding subscription-economy.
The service has been integrated into Worldpay’s payments platform allowing merchants of all sizes to easily set up recurring payments. Increased acceptance and very low chargeback levels are achieved via Nuapay’s robust data pool and proprietary algorithms. Direct debit payment decline rates for Worldpay’s customers trading in Europe have improved by 50% since introducing the service. Importantly, with Nuapay, Worldpay can also offer quicker settlement times to merchants.
The new partnership between Worldpay and Sentenial opens up additional market opportunities in eCommerce, in industries such as insurance, energy and telecommunications, which have traditionally relied upon direct debit payments.
Spiros Theodossiou, SVP Product Management, Global Enterprise eCommerce at Worldpay said, “We understand the challenges of managing direct debit payments in all forms and chose to partner with Sentenial for its unique and complete Merchant-to-Bank and Bank-to-Bank capability. Early customer feedback shows our merchants are very happy with our enhanced direct debit services via Worldpay’s global eCommerce platform.”
Sean Fitzgerald, Chief Executive Officer at Sentenial comments, “We are delighted to be working with Worldpay as a strategic partner for recurring payments and direct debits. Everyone wins when such a partnership focuses on the merchant’s success in areas like improved customer acquisition and retention, and that is exactly what fast-growing Fintechs like Worldpay and Sentenial are proving. Together we are ideally positioned to help merchants get the most out of direct debit payments”.
About Nuapay by Sentenial
Sentenial is a leading European payment solution provider and specialist in bank Account-2-Account payments, including Direct Debit, Credit Transfer payments/ACH, Instant Payments and Open Banking). We process in excess of €42 billion annually for thousands of clients including five of Europe’s top 10 Banks. Nuapay, a wholly-owned subsidiary of Sentenial, is a regulated Payment Institution and provides next generation Fintech services that help businesses optimise their use of payments to boost growth and reduce costs. Using our platform, technology and focus on customer experience we offer the market a new alternative – a modern Non-Bank Fintech partner for Account-2-Account payments.
About Worldpay, Inc
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global integrated omni-commerce. With industry-leading scale and an unmatched integrated technology platform, Worldpay offers clients a comprehensive suite of products and services globally, delivered through a single provider.
Worldpay processes over 40 billion transactions annually through more than 300 payment types across 146 countries and 126 currencies. The company’s growth strategy includes expanding into high-growth markets, verticals and customer segments, including global eCommerce, Integrated Payments and B2B.
Worldpay, Inc. was formed in 2018 through the combination of the No. 1 merchant acquirers in the U.S. and the U.K. Worldpay, Inc. trades on the New York Stock Exchange as “WP” and the London Stock Exchange as “WPY.”