Expansion beckons for Total Processing after its acquisition by Irish suitor
Total Processing, the Manchester-based payments fintech founded in 2015, has been acquired by Dublin-based NomuPay.
NomuPay is paying around $35m for Total Processing, which values the company at $135m.
NomuPay is an end-to-end payment platform purpose-built for expansion into regions of high cross-border and ecommerce growth.
The acquisition, which comes just months after NomuPay’s Series A funding announcement, will enable the company to accelerate its business expansion efforts throughout South East Asia, Europe, Turkey as well as enter the Middle East.
Previously named as one of the UK’s fastest growing private financial technology companies by The Sunday Times, Total Processing’s unique selling proposition is multifaceted.
While the company prides itself on offering intuitive merchant services, including recurring-based payment collections and innovative merchant-facing portal, it was the organisation’s unwavering dedication to customer service that ultimately captured the attention of NomuPay CEO, Peter Burridge.
He said: “In an industry that’s plagued by over-automation, chatbots and so-called ‘simple’ solutions, Total Processing stands out as a company that truly cares about the merchant’s experience.
“What impressed me the most was the team’s mission and drive to become the ‘most customer focused payments business in the world’ – it’s apparent at every stage of the value chain. From streamlining the onboarding process, to improving authorisation rates and simplifying chargeback management, Total Processing’s consultative approach is maniacally focused on improving each and every one of their merchant’s businesses.”
Engineered to simplify fragmented payment infrastructure throughout South East Asia, Europe and Turkey, NomuPay’s Unified Payments (uP) Platform provides scalable payment solutions and robust data management capabilities that are gateway agnostic.
With the integration of Total Processing’s merchant-centric services, the company plans to maintain this agnostic approach, providing gateway and payment service provider partners with turnkey reporting dashboards, transaction monitoring tools, multi-currency treasury management and cross-border disbursement capabilities.
A licensed provider in Europe and multiple South East Asian countries, NomuPay will provide Total Processing with additional acquiring capabilities in Hong Kong, Malaysia, Thailand, the Philippines and the European Union.
Total Processing CEO, Robert Pailin, said: “Having NomuPay’s acquiring capabilities underpinning our merchant servicing offering is a big leap forward, we’re aligned in our customer-first approach, and this partnership will supercharge Total Processing’s growth.
“With more resources we’ll be able to innovate tech faster, expand into new markets, and bring even greater value to our merchants. Exciting times ahead.”
Following the acquisition, NomuPay plans to further scale Total Processing’s merchant tooling into Hong Kong and other key South East Asian markets.
The company will also leverage Total Processing’s presence in the UK and UAE to further bolster its European operations and grow market share in the Middle East.
Peter Burridge added: “At NomuPay, our goal is to provide our customers with an ‘all-access pass’ to payments, future-proofing their ability to successfully scale in high growth regions. The acquisition of Total Processing will enable us to unlock that access through dedicated solutioning and customer-driven servicing.”
Since announcing its funding round earlier this year, NomuPay has continued to grow and expand its product offering.
This includes the recent launch of its payout capabilities, which enables merchant disbursements throughout Europe, South East Asia and the Pacific Islands.
