Banking Circle acquires German A2A payments firm SEPAexpress
B2B banking services fintech Banking Circle Group has acquired account-to-account (A2A) paytech SEPAexpress for an undisclosed sum.
Banking Circle Group acquires SEPAexpress
SEPAexpress provides white-labelled A2A payments services for Payments Service Providers (PSPs), merchants and corporates in Europe.
Banking Circle CEO Anders la Cour says SEPAexpress’ suite of offerings are a “natural fit” for the company and having the paytech on board will allow it to serve the “ever-growing payment needs of businesses worldwide”.
Banking Circle helps companies digitise their customer and supply-chain interactions, serving payment businesses, banks and online merchants.
It says the acquisition of SEPAexpress will complement its e-commerce solutions such as embedded finance, business payments, card issuing and B2B buy now, pay later (BNPL) services.
SEPAexpress, which processes millions of transactions a month, will also gain access to Banking Circle’s tech infrastructure and financial resources to help boost its growth.
A2A payments are inexpensive and instant payments that move money directly from the payer’s bank account to the merchant’s or service provider’s bank account.
Banking Circle expects that more than 20% of e-commerce transactions in Europe will be made by A2A payment options by 2023, accounting for a higher share of payments than debit and credit cards.
SEPAexpress will continue to operate autonomously and is aiming for triple digit growth in 2022.
