Latest news with #PayTo
Yahoo
7 days ago
- Business
- Yahoo
Mobile payment platform QwikPay launches in Australia
QwikPay, a mobile payment platform, has commenced operations in Australia, offering a mobile-based, cardless payment system. Founded by fintech entrepreneur Nik Bavisetti, the payment platform utilises Australia's PayTo and PayID payment infrastructure to facilitate transactions without per-transaction fees or physical terminals. QwikPay operates on a subscription model with a flat monthly fee starting at A$39.99 ($26), allowing merchants to process unlimited payments via smartphones with real-time confirmation. The platform requires no hardware or contracts and is currently onboarding merchants and users across the country. The service targets both small businesses and individuals. QwikPay founder and CEO said: "QwikPay gives power back to businesses and removes the invisible tax that Australians have been paying every time they buy a coffee, get a haircut or pay a tradie. "This isn't just a better experience, it's a better system that puts money back into the pockets of businesses giving them access to their funds instantly. They can withdraw any time. No hidden costs or fees." Bavisetti added: "This platform has the potential to shift billions of dollars back into the hands of business owners and everyday people." "It removes the complexity, the cost and the control held by banks and card providers and replaces it with something more powerful; choice." "Mobile payment platform QwikPay launches in Australia " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
14-07-2025
- Business
- Finextra
New payment platform QwikPay launches in Australia
Australia's newest and most disruptive payment platform has officially launched, with QwikPay promising to eliminate the friction, fees and outdated infrastructure that have long held back innovation in the way Australian consumers pay and businesses get paid. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Founded by fintech entrepreneur Nik Bavisetti, QwikPay is a mobile-first, cardless, fee-free platform designed to completely transform the Australian payments landscape. Built on PayTo and PayID, Australia's next-generation payment rails, QwikPay eliminates the need for physical terminals, removes all per-transaction fees and enables instant QR code payments using just a smartphone. "QwikPay exists because the current system is broken," QwikPay founder and CEO, Nik Bavisetti said. "Traditional payment platforms are designed to benefit big banks and card companies, not the businesses and people who actually use them. Every time a customer taps a card, a cut is taken. That money doesn't go to the local café or the hairdresser or the tradesperson, it goes to the institutions running the network. "These large financial institutions have everyone under their thumb, taking money at every opportunity. "QwikPay shifts the power. It gives businesses control over their payment costs and removes those costs altogether for consumers." QwikPay represents a fundamental shift in how transactions are made in Australia; faster, cheaper and completely transparent. The platform is now live, fully operational and actively onboarding merchants and users around the country. A national movement to remove financial friction For decades, Australia's payments ecosystem has been dominated by card networks and intermediaries that take a fee from every transaction. Small businesses have been forced to either absorb these costs or pass them on to customers. QwikPay breaks that cycle for businesses with a simple, flat monthly subscription starting at just $39.99 and no per-transaction fees. There is no hardware required, no terminals and no contracts. Merchants can accept unlimited payments through their mobile device and receive real-time confirmation with every sale. Consumers simply scan a QR code to pay, securely, instantly and without any surcharges. "QwikPay gives power back to businesses and removes the invisible tax that Australians have been paying every time they buy a coffee, get a haircut or pay a tradie," Bavisetti said. "This isn't just a better experience, it's a better system that puts money back into the pockets of businesses giving them access to their funds instantly. They can withdraw any time. No hidden costs or fees." Built for Australians. Inspired by the world's best Globally, QR code and instant-payment technologies have revolutionised economies, from UPI in India to Pix in Brazil and PayNow in Singapore. These platforms have proven that removing barriers at the point of sale drives financial inclusion, increases efficiency and boosts local economic activity. QwikPay brings that same thinking to Australia. For the first time, businesses and consumers will have access to a national payment system that is mobile-first, cardless and entirely free from the outdated and costly card-based infrastructure. "Digital wallets and QR payments are no longer futuristic, they are the global standard," Bavisetti said. "With QwikPay, Australia now has a system that finally puts people ahead of institutions and makes payments work for everyone." Why this matters for the country QwikPay is more than a fintech solution, it is a new national utility for moving money. It empowers small businesses to grow without losing margins to processing fees and it gives consumers a simple, cost-free way to pay. It creates transparency at the point of sale and restores fairness in how money moves across the economy. With Australians increasingly relying on mobile devices for everyday interactions, QwikPay meets the moment. It strips away the need for cards, hardware and confusion, offering a seamless, secure and human-centred solution. "This platform has the potential to shift billions of dollars back into the hands of business owners and everyday people," Bavisetti said. "It removes the complexity, the cost and the control held by banks and card providers and replaces it with something more powerful; choice." QwikPay is now live and available across Australia. Merchants and consumers can sign up now at
Techday NZ
07-07-2025
- Business
- Techday NZ
GoCardless names Ian Boyd to lead Australia & New Zealand growth
GoCardless has appointed Ian Boyd as General Manager for Australia and New Zealand as part of a strategy to expand its presence in the region's evolving payments sector. Boyd, who previously served as General Manager of Partnerships at Xero, brings more than twenty years of experience in financial services and technology to the role. His career includes significant tenures at Visa, Barclaycard, and ANZ Bank, positioning him to lead GoCardless as it aims to grow its market share in the region. Growth strategy GoCardless has reported a 28% revenue growth in Australia and 36% in New Zealand during 2024. The company intends to build on this momentum, particularly as changes in Australia's payments infrastructure—including the rise of PayTo and the proposed decommissioning of BECS by 2030—create new opportunities for merchants and payment service providers. In his new position, Boyd is tasked with driving growth, fortifying partnerships, and expanding the company's PayTo offering across both countries. He is also expected to oversee GoCardless' efforts to respond to local market changes and address demand for modern payment solutions. Leadership remarks "It's an exciting time for payments in Australia and New Zealand with bank payments on the rise. Direct Debit has long been popular and with PayTo now enabled for over 90% of consumer bank accounts, it's the perfect time to strengthen our presence in the market. Ian's proven background, particularly his experience at Xero and deep understanding of the local market, makes him the ideal leader to drive our next phase of growth." This statement was made by Pat Phelan, Chief Commercial Officer at GoCardless, highlighting the alignment between Boyd's background and the needs of the business in the region. Market demand The announcement of Boyd's appointment coincides with GoCardless' ongoing efforts to solidify its position as a partner for Australian merchants navigating new payment technologies. Partnerships have already been established with organisations such as Salesforce, i=Change, Optty, and InsuredHQ. These relationships are seen as key components of the firm's regional growth plans, particularly as businesses seek alternatives to legacy payment infrastructure. Outlook from Ian Boyd "I'm excited to join GoCardless at this pivotal moment. We have a huge opportunity to show businesses the benefits of bank payments, helping them boost revenues, cut costs, and build stronger customer relationships. In Australia, with the proposed decommissioning of BECS and the emergence of PayTo, we're the ideal partner for merchants, offering Direct Debit now and the ability to become PayTo-ready for the future. In New Zealand, we'll bring the latest payment technology to accelerate growth, disrupting a market long underserved by outdated infrastructure. I'm confident we can take the pain out of getting paid for millions of merchants, enabling them to truly thrive." Boyd's comments reflect an emphasis on meeting evolving merchant needs and leveraging modernised payment rails in both Australia and New Zealand. Sector context More than 90% of Australian consumer bank accounts are now PayTo-ready, signalling the widespread adoption of new digital payment options. The upcoming retirement of the BECS payment rails by 2030 is expected to accelerate the industry's transition towards real-time and account-to-account solutions. GoCardless is positioning its platform and services to support businesses through this period of change, both in Australia and neighbouring New Zealand. As the payments landscape transforms, GoCardless plans to continue building on recent partnerships and strengthening its local presence under Boyd's leadership, aiming to support merchants adjusting to updated infrastructure and customer payment preferences. Follow us on: Share on:
AU Financial Review
13-06-2025
- Business
- AU Financial Review
Making transactions smarter – for businesses and customers
'As it is a near real-time payment solution, it dramatically reduces the delays caused by our current bank direct-debit solution,' Buckland says. Customer benefits Customers also have their own issues with managing their payments. A common challenge is keeping track of multiple direct debits coming out of their account, especially when they're spread across bank accounts and credit cards. But this new digital transaction system aims to provide a smooth digital customer experience, allowing customers to see all their recurring payments in one place — via their banking app or online — where they can easily authorise new agreements, or cancel or pause existing ones. In addition to the added transparency, this also makes for greater security — another reason why Dymocks Tutoring is trialling the technology. With customers required to approve any direct debit/payment requests within their authenticated banking channel, that extra layer of security gives them much needed peace of mind in their interactions with the company. 'One of our motivators has been an increasing concern from customers about the security of their data and payment details,' Buckland explains. 'In an era of ever-increasing data breaches, customers are understandably hesitant to provide payment identifiers and want to be more in control of their financial arrangements. We see this as a perfect way to give customers the control and certainty they seek, all through a system they already have confidence in.' Telco makes things clear Australian telecommunications company More Telecom will also use the payment solution, and believes it will make online transactions significantly easier. As well as offering its customers the option to use PayTo to pay bills, More also intends to use it to allow new customers a way to check out online and sign up for its services without needing a credit card. Faster notifications of when payments are made — and of any pause or cancellation of payments — aims to improve transparency and efficiency for businesses. It also notifies customers when a payment in connection with their account is made, paused or cancelled, giving customers the same benefits of transparency and efficiency. 'This efficiency enables More to provide a better experience for the customer in relation to payment queries and billing issues,' says More's chief innovation officer, Ryan Marks. Banks on board PayTo is available through online banking with more than 50 banks, financial institutions and credit unions. CommBank's general manager for Real Time Payments and Payments as a Service, Alison Chang, says the technology supports several use cases. 'It can be integrated into a business or government entity for their end customers to pay for utilities, fund a digital wallet, transfer funds in me-to-me transactions, buy things in an app, online or instore, as well as subscribing to services,' she says. PayTo runs on Australia's real-time payments network, the NPP, operated by Australian Payments Plus (AP+). AP+, which also owns BPAY and eftpos, views PayTo as an important step toward transitioning payments to the NPP and away from the legacy BECS payment system, which is expected to close in 2030. AP+ product lead Oli Mitchell believes the technology's benefits go beyond replacing direct-debit payments. 'PayTo can be used by businesses to manage disbursements such as payroll, dividends and accounts receivables, by employers sending superannuation payments, and by purchasers completing property transactions,' he says. Because these agreements can effectively be used as 'payment authorities', Mitchell explains they can also be used by businesses to outsource routine payment processes, such as payroll (up to a pre-approved limit) or invoice payments handled by their accountants. Things you should know Commonwealth Bank of Australia ABN 48 123 123 124, AFSL and ACL 234945. PayTo and PayID are registered trade marks of NPP Australia Limited ABN 68 601 428 737. This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. You should consider seeking independent financial advice before making any decision based on this information. The information in this article and any opinions or conclusions are reasonably held or made, based on the information available at the time of its publication.
Finextra
20-05-2025
- Business
- Finextra
Citi connects with PayTo for A2A payments in Australia
Citi announced today that it is live with PayTo initiator, enabling its clients to access a faster, cost effective, and more secure alternative to credit cards, debit cards or direct debits. 0 Through PayTo, Citi's institutional clients can initiate account-to-account pull payments. This means clients' customers can pay directly from their bank account, in real-time, enabling a transparent and instant process for clients. PayTo offers Citi clients seamless reconciliation and fee reduction benefits as it reduces reliance on card fees and decreases the likelihood of chargebacks. PayTo can be used for everyday transactions such as in-app payments or e-commerce payments, outsourced payroll, utility bills, flight bookings, subscriptions and digital wallet top-ups. 'Our clients want smarter payments solutions, and PayTo is a cost effective, transparent and secure solution. Through PayTo, we're truly giving our clients access to the future of payments. We anticipate strong take-up of this offer as clients welcome the benefits for themselves and their end customer,' said Kirstin Renner, Citi Australia and New Zealand Head of Treasury and Trade Solutions, Services. 'As we progress toward an increasingly 24/7, digital-led economy, we are focused on delivering innovations for our clients that will keep them at the forefront of technological change in payments.' This offering is the latest in a suite of innovative solutions offered by Citi's Services business, including Spring by Citi, an end-to-end digital payments service enabling e-commerce and B2B funds flow globally and Real-Time Funding for cross-border transactions for corporate clients. Services serves 19,000 clients, including 85% of the Fortune 500. It generates over half of Citi's deposits and processes close to $5 trillion every day.
