Payment processing company Worldpay has chosen Sentenial’s Nuapay service to enable its customers manage recurring payments.
The service, which has been integrated into the Worldpay payments platform, will enable merchants of all sizes to set up recurring payments easily and manage direct debits across Europe.
Nuapay claims that its data pool and proprietary algorithms facilitates more acceptance and low chargeback levels, while providing quicker settlement times to merchants.
Nuapay further claims that its integration into the Worldpay platform led to a 50% improvement in direct debit payment decline rates for Worldpay customers trading in Europe.
Sentenial CEO Sean Fitzgerald said: “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.”
Nuapay expects the collaboration with Worldpay to offer new market opportunities in industries including insurance, energy and telecommunications, which have relied on direct debit payments.
Worldpay SVP product management, global enterprise ecommerce, Spiros Theodossiou 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.”