Zopa Enhances Payments Capabilities with Acquisition

UK-based digital bank Zopa has acquired Rvvup to broaden its payments capabilities and support the expansion of its embedded finance and retail lending services.

Rvvup’s platform is designed to simplify acceptance, collection, and administration for businesses. The move to acquire the platform is expected to triple the size of Zopa’s embedded finance business within two years and cement its position as a top three retail finance provider within five.

Through its acquisition of Rvvup, the fintech aims to deliver single, simplified integration, richer data insights, improved payment conversion, and lower processing costs within six months.

For example, Rvvup’s AI Payment Agent automates the payment process by selecting the most efficient method, integrating with tools like Xero, and handling daily reconciliations across multiple providers. This feature seeks to make payment management simpler and more effective for merchants.

For customers, the acquisition aims to provide a faster, seamless payment journey with flexibility and a broad choice of payment methods. Zopa said the deal will support the development of a payment ecosystem that links point-of-sale lending with modern payment options.

In a press release, the company said:  "The acquisition will transform and accelerate Zopa’s retail finance offering by positioning it at the centre of the merchant's checkout, expanding its capability from point-of-sale lending to supporting all modern payment methods via one unified experience.”

This is Zopa’s second acquisition, following its purchase of point-of-sale finance platform DivideBuy in 2023.