Australian based EML Payments has acquired 100% of Irish based Sentenial Group for €70 million.
EML Payments operates through three segments: Gift & Incentive (G&I), General Purpose Reloadable (GPR) and Virtual Account Numbers (VANS). The Gift & Incentive segment provides single load gift cards for shopping malls and incentive programs across the world.
Sentenial is a cloud-native, API-first, full-stack enterprise-grade payments company, and is dually regulated in the UK and France.
Sentenial, and its Open Banking brand Nuapay, operate in the fast-growing European Open Banking sector and provides EML with the capabilities to manage payments across scheme (Mastercard and Visa) and non-scheme (A2A), as well as both card and non-card payments.
EML intends to expand Sentenial’s best in class platform and products into the North American and Australian markets. Post-completion of the acquisition, the combined group is expected to become one of the largest FinTech enablers in Open Banking and Prepaid globally.
Tom Cregan, The Managing Director & Group Chief Executive Officer of EML, said:
“EML has transitioned over the years from primarily a gift-card company to a company with a diverse revenue base across multiple prepaid products,”
“The acquisition of Sentenial will be the next evolution for EML, as we transition into a broader payments business by adding instant account-to-account (Open Banking) payments into our suite of solutions for current and prospective customers.”
Sean Fitzgerald, Founder & CEO at Sentenial, said:
“Nuapay’s mission is to be the best way to pay and get paid. We are proud to have developed a market-leading Account-to-Account and Open Banking payments platform over nearly two decades in business,”
“The revolution in payments caused by Open Banking and Real-Time Payments is rapidly building momentum globally, and we are hugely excited by this opportunity to move to a global scale as part of EML,”
“From the moment EML approached us, we’ve been impressed by their vision, ambition and growing ecosystem.”
