Nuapay (EML Payments Limited’s (ASX: EML) Open Banking business) has been recognised for its exceptional Authenticated Mandates solution at the Merchant Payment Ecosystem Awards in Berlin, Germany, where it was awarded the coveted Best Use of Open Banking for Payments accolade.

MPE's Best Use of Open Banking award recognises innovative payment solutions, enhancing customer experience through secure transactions between end-users and merchants. Independent experts evaluated the nominees' criteria, highlighting Nuapay's fintech leadership.

Nuapay's Authenticated Mandates, introduced last year, revolutionised the payment landscape by capturing e-mandates and authenticating customers through Open Banking technology. It simplifies recurring payments for businesses while improving security and reducing fraud when collecting via direct debit.

Nuapay's CEO, Brian Hanrahan, was thrilled with the award and said, "This is a significant win for us, as the Merchant Payment Ecosystem conference and awards ceremony is a major event in the European fintech industry. I want to acknowledge the team's dedication to providing innovative Open Banking solutions that save businesses time, money, and resources. This award is a testament to our progress and reinforces our commitment to driving the future of payments."

Nuapay's Authenticated Mandates simplify recurring payments by seamlessly integrating collection, reconciliation, and customer journeys with simple API integrations. This enhances the user experience, reduces failed payments, and streamlines the payment process, ultimately lowering business costs and improving growth and customer satisfaction.