Banking Circle Group has acquired SEPAexpress, which provides white-labelled account-to-account (A2A) payments for payments service providers, merchants and corporates in Europe.
Financial terms of the deal were not disclosed.
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Launched to the market in 2017, Germany-based SEPAexpress allows businesses to process Direct Debits.
The firm aims to expand further into the account-to-account space with the addition of open banking, Request to Pay and embedded risk management services to its offerings.
As part of Banking Circle, SEPAexpress will benefit from immediate access to its technology infrastructure and financial resources as part of the transaction.
The firm will be able to tap a global network of over 200 payment businesses, lenders and marketplaces linked to the Banking Circle Group ecosystem.
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By GlobalDataThe addition of SEPAexpress enables Banking Circle to bolster its spectrum of e-commerce solutions including business payments and card issuing, embedded finance, and business-to-business (B2B) buy now pay later.
SEPAexpress CEO Franz Guttenberger said: “By joining the Banking Circle Group ecosystem we will be able to capitalise on the established infrastructure and financial resources to realise our vision of extending our services across Europe.
“Businesses across the region need to be able to focus on their customer propositions and, by utilising our services, they don’t need to worry about the payment process.”
Banking Circle Group CEO Anders la Cour said: “The quality and simplicity of the solutions from SEPAexpress are without compare in the industry.
“Its suite of offerings is a natural fit with the Banking Circle ecosystem and we’re excited to have the company on board to serve the ever-growing payment needs of businesses worldwide. We look forward to working closely with SEPAexpress and welcome the entire team to the Group.”
SEPAexpress, which targets a triple digit growth this year, will continue to operate autonomously.
