EML & Fupay Join Forces To Launch Europe’s First Responsible BNPL-as-a-Service Product Attached To A Virtual Card

BRISBANE, Australia--(BUSINESS WIRE)--May 9, 2021--

EML Payments Limited (ASX: EML) (S&P/ASX 200) continues its evolution as one of the world's most diversified payments and digital banking enablers. EML powers Fupay’s cash flow management and millennial credit product in Australia. Now, EML is moving to the next level and partnering with Fupay to take their combined technology to Europe to offer businesses a cutting-edge white-label BNPLaaS solution.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210509005027/en/

EML partners with Fupay to take their combined technology to Europe to offer businesses a cutting-edge white-label BNPLaaS solution. (Photo: Business Wire)

Fupay’s millennial focussed money management platform uses Open Banking data to provide smart cash flow forecasting, actionable insights, responsible BNPL 'smoothing' and engaging spend benefits designed to help users make every penny count. At the heart of it all is Fupay's proprietary spending and lending engine, which is well-positioned to address the ever-growing consumer and regulatory demand for a better and safer short term lending option.

EML & Fupay are passionate about driving a more responsible & affordable BNPL experience with their combined capabilities:

  • Low touch e-identity verification and affordability assessment.
  • Personalised and flexible payment options based on the user’s cash flow.
  • Real-time virtual card and payment options available in one app.
  • Rich AI-driven data insights with high impact visualisation options to help make money management easy for consumers.

Michael Fredericks, Managing Director & Founder at Fupay, stated: ''When we started Fupay, we predicted the need to address the challenges faced by millennials meeting lifestyle costs, including a responsible millennial credit solution. We've focussed on addressing the solution rather than focussing on selling a thin BNPL product as quickly as possible. There's a clear need for BNPL organisations to do more to ensure their customers can afford to repay credit extended to them and be more accountable for their customers' financial safety. We've seen a growing appetite from customers and regulatory bodies to see real responsibility, and Fupay is championing this mature approach to trending payments tech alongside EML.''

Sarah Bowles, Group Chief Product Officer at EML, commented: ''EML's thrilled to expand our connection with Fupay beyond Australia into a true growth collaboration. Our exciting new venture brings together EML's virtual card, A2A payments, the newest Open Banking products and Fupay's best-in-class cash flow and millennial credit product to create a market-leading white-label offering. We're impressed with Fupay’s groundbreaking platform and see the absolute need for this type of solution to enable merchants and enterprises to deliver an exceptional user experience without needing to become payment experts.''

About EML Payments Limited

EML provides an innovative payment solutions platform, helping businesses all over the world create awesome customer experiences. Wherever money is in motion, our agile technology can power the payment process, so money can be moved quickly, conveniently and securely. We offer market-leading programme management and highly skilled payments expertise to create customisable feature-rich solutions for businesses, brands and their customers.

Come and explore the many opportunities our platform has to offer by visiting us at: EMLPayments.com

View source version on businesswire.com:https://www.businesswire.com/news/home/20210509005027/en/

CONTACT: Richard Anderson, Group Chief Sales & Marketing Officer

EML Payments Limited (ASX: EML)

[email protected]

+61 458 011 203

KEYWORD: AUSTRALIA/OCEANIA AUSTRALIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY SOFTWARE NETWORKS BANKING

SOURCE: EML Payments Limited

Copyright Business Wire 2021.

PUB: 05/09/2021 03:00 PM/DISC: 05/09/2021 03:02 PM

http://www.businesswire.com/news/home/20210509005027/en

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