Real-time payment growth in Australia draws fintech interest
Global fintechs like Volt and GoCardless are attracted to Australia's consistent growth in real-time payments, driven by customer behaviour and business demand.
UK-based payments fintech Volt has ramped up its expansion plans in Australia, as it and other payments fintechs finally see momentum for real-time account-to-account (A2A) payments.
Volt — not to be confused with the failed Australian neobank Volt Bank — has just appointed a local head for Australia and New Zealand and is growing its team. Meanwhile, other fintechs specialising in A2A transactions have also been expanding their offerings.
Another UK-based fintech, GoCardless, has partnered with insurance tech fintech ICE InsureTech to address a perceived niche in cheaper and more certain insurance premium payments.
Volt’s new Australian head, Adam Vidal, told Capital Brief that Volt’s founders had been watching developments in Australia and that the timing of the expansion reflected both a desire for international merchants to operate online in Australia and the growing maturity of the real-time payments platform NPP, especially its PayTo function.
