GoCardless Plans to Acquire Open Banking Provider Nordigen

London-based payments provider GoCardless is planning to acquire freemium open banking provider Nordigen, it was revealed in a surprise announcement this morning.

The acquisition means that GoCardless will now provide Nordigen's free open banking suite of services at scale, as well as layering on its own suite of premium data products and payment services.

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The financial terms of the acquisition were not disclosed. The deal was signed by both parties yesterday and is expected to close later this summer.

It is the latest move by GoCardless to dramatically accelerate its push into the open banking space, a transition that began just over a year ago with Instant Bank Pay in the UK and has continued with launches across multiple markets and the addition of recurring payments.

"We realised early on that this technology would drive bank payments for decades to come and over the last 18 months, we've accelerated our push into open banking as part of our vision to build the world's bank payment network," said GoCardless CEO and co-founder Hiroki Takeuchi.

"The Nordigen acquisition will take us to the next level. By intelligently combining free, state-of-the-art open banking connectivity with deep payment expertise, we can now offer open banking-as-a-service to any developer, partner or fintech."