Today, Fabrick, a European leader in ‘Open Finance’, has announced the acquisition of Judopay, a leading UK-based mobile payments company.
This strategic deal will allow Fabrick’s Payment Orchestra™ to benefit from Judopay’s innovation expertise in digital commerce, setting new standards and models to provide smoother payment solutions, frictionless processes, and seamless checkout experiences for merchants and customers alike.
The acquisition of Judopay is a major step for Fabrick in its expansion into the UK market - the largest digital payments market in Europe (with a forecasted transaction value of $440 billion in 2023) and one of the most cashless societies in the world. The UK is highly conducive to embedded finance, with 95% of people having internet access, 97% having a bank account, and 65% having a credit card. Additionally, 41% of transactions are being made using alternative payment methods. This indicates the UK’s propensity for innovation and makes the country an ideal place to develop new models and standards of embedded finance.
This deal will expand Fabrick’s proprietary technology, allowing the company to offer a better service to merchants, with the ability to manage all financial and data flows from a single point. Payment Orchestra™ will optimise payment processing at each stage of the payment flow, reducing the transaction time, costs and cart abandonment rate, whilst improving the customer checkout experience.
The acquisition of Judopay will also enable Fabrick to take advantage of the current revolution in the Ecommerce industry, with an estimated overall revenue of $199.9 billion in 2022. Judopay is a significant player in the UK market, with over 60 million transactions a year worth over €2 billion, and partnerships with major companies such as KFC, PaybyPhone group, and Autocab. Payment Orchestra™ has already provided its users and customer base of international retailers with many tangible benefits, such as instant access to acquirers, card, mobile, and digital payment methods.
Paolo Zaccardi, CEO, and Co-Founder of Fabrick commented: “We are excited to begin this new journey with Judopay. Their expertise and visionary mindset are essential for those who, like us, strive to create a new industry built on digitalisation and the growth of companies in an array of industries. At Fabrick, we have always seen the governance and development of new payment methods and processes as a cornerstone of the new era of embedded finance enabled by evolving models. In this regard, the platform developed by Judopay seamlessly integrates and enhances our Payment Orchestra™ solution and is in line with our strategic vision of Open Payments.”
This strategic acquisition is a major step forward for Fabrick as it seeks to become a leader in Open Finance and embed itself further into the European market whilst simultaneously improving the way businesses accept payments and enabling consumers to enjoy a smoother checkout experience as well as access to alternative payment methods.