Unifiedpost Payments Receives Authorisation from the National Bank of Belgium to Purchase Receivables
La Hulpe, Belgium – 07 August 2024, 7:00 am. CET – Unifiedpost Group SA (Euronext Brussels: UPG) (Unifiedpost, Group), a leading provider of integrated business communications, today announced that its payment institute, Unifiedpost Payments SA, has successfully obtained authorisation from the National Bank of Belgium (NBB) to purchase receivables under its existing licence, which can be passported into the EU. This authorisation takes immediate effect and aligns with Unifiedpost’s digital growth strategy and expansion of its payment services in Europe while meeting the increasing demand from European SMEs for integrated financial solutions.
Key highlights:
Unifiedpost Payments has received authorisation from the NBB to purchase receivables under its existing license. These receivables will immediately be sold on a non-recourse basis to a third-party funding provider, who will also be responsible for handling dunning and potential claims. This reduces to a minimum Unifiedpost’s risk exposure while expanding its offering for integrated finance solutions. This Authorisation takes immediate effect and can be passported into the EU, allowing Unifiedpost Payments to purchase receivables across the EU.
In the past, Unifiedpost Group was already able to offer invoice financing to its customers through a number of third parties. The authorisation now allows Unifiedpost to purchase receivables directly which significantly reduces the complexity of the offering. This marks a strategic opportunity to leverage our business model. While we do not expect material revenue streams from this initiative in the next twelve months, the move into receivables purchases will enhance Unifiedpost's current payment services within the Banqup platform and open up new revenue-generating opportunities in the future.
Commenting on the announcement, Hans Leybaert, CEO and founder of Unifiedpost Group, stated: "We are delighted that Unifiedpost Payments has successfully obtained authorisation from the NBB. This new capability allows us to broaden our financial offerings and provide more comprehensive solutions to our customers. As the embedded finance market continues to grow, Unifiedpost's new receivables purchase capability is a step towards addressing this growing market need. This capability enables Unifiedpost to provide SMEs with an alternative to traditional banking products and brings us closer to a comprehensive suite of integrated financial solutions within the Banqup platform.”
Contacts
Alex Nicoll
Investor Relations
Unifiedpost Group
About Unifiedpost Group
The Banqup platform is Unifiedpost's secure, cloud-based platform for businesses to streamline their administrative and financial services. Built on “Documents”, “Identity” and “Payments”. It allows real-time and seamless connections between Unifiedpost’s customers, their suppliers, their customers, and other parties along the financial value chain. With its one-stop-shop solutions, Unifiedpost’s mission is to make administrative and financial processes simple and smart for its customers. For more information about Unifiedpost Group and its offerings, please visit our website:
Noteworthy facts and figures:
- Established in 2001, with a proven track record
- 2023 group revenue €191 million
- 1.200+ employees
- Offices in 33 countries
- Diverse portfolio of clients across a wide variety of industries (banking, leasing, utilities, media, telecommunications, travel, social security service providers, public organisations, etc.) ranging from large internationals to SMEs
- Unifiedpost Payments, a fully owned subsidiary, is recognised as a payment institution by the National Bank of Belgium
- Certified Swift partner
- International M&A track record
- Listed on the regulated market of Euronext Brussels, symbol: UPG
Cautionary note regarding forward-looking statements: The statements contained herein may include prospects, statements of future expectations, opinions, and other forward-looking statements in relation to the expected future performance of Unifiedpost Group and the markets in which it is active. Such forward-looking statements are based on management's current views and assumptions regarding future events. By nature, they involve known and unknown risks, uncertainties, and other factors that appear justified at the time at which they are made but may not turn out to be accurate. Actual results, performance or events may, therefore, differ materially from those expressed or implied in such forward-looking statements. Except as required by applicable law, Unifiedpost Group does not undertake any obligation to update, clarify or correct any forward-looking statements contained in this press release in light of new information, future events or otherwise and disclaims any liability in respect hereto. The reader is cautioned not to place undue reliance on forward-looking statements.
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