Nuapay also has plans to launch in other countries across Europe, choosing Spain as it’s next destination.
Open banking provider Nuapay has set its sights on European expansion as it rolls out its open banking platform to Italy and Germany.
The fintech’s latest expansion will see it offer open banking-powered payment solutions covering 308 banks in Italy and 435 banks in Germany, allowing for a seamless payments process for their customers.
Thanks to the latest rollout, Nuapay now connects to over 134m European bank accounts, reaching 98 per cent and 70 per cent coverage in Italy and Germany respectively.
Nick Raper, director of Nuapay, said: “Enabling access to secure and efficient Open Banking payments within Germany and Italy comes at an opportune time as the pandemic puts the final nail in the cash-coffin.”
“Access to Nuapay’s Open Banking connections, via our platform, will allow businesses to avoid high card payment fees and deliver more secure payment options to customers.”
Following its launch in the two countries, Nuapay has also set its sights on further European expansion, with plans to launch in Spain imminently.
Nuapay currently has over 90 per cent coverage in both the UK and France.