UK-based real-time payments platform Volt has announced its launch in Australia. This marks the company’s continued global expansion following its $60 million Series B funding round earlier this year.
Volt enables real-time bank transfers between consumers and merchants. It already operates in the UK, Europe and Brazil. With over 5,000 banks integrated into its network, Australia represents a significant new market entry for Volt and the entire real-time payments industry.
In Australia, Volt will partner with PayTo, a digital wallet
Digital Wallet
A digital wallet is a popular mechanism referring to an electronic device, online service or software program that allows one party to conduct electronic transactions with another party. It involves bartering or exchanging digital currency, including cryptocurrency, for goods and services. Money can be deposited into the digital wallet before any transaction, which also includes an individual’s bank account linked to the digital wallet. A digital wallet can include more than just Digi
A digital wallet is a popular mechanism referring to an electronic device, online service or software program that allows one party to conduct electronic transactions with another party. It involves bartering or exchanging digital currency, including cryptocurrency, for goods and services. Money can be deposited into the digital wallet before any transaction, which also includes an individual’s bank account linked to the digital wallet. A digital wallet can include more than just Digi
supplier, to allow consumers to pay from account to account. Real-time payments are still relatively new in Australia compared to debit and credit cards. However, reports show growing consumer demand for faster payment options through open banking.
“I’m excited to finally introduce our technology to the Australian market and begin our journey into the APAC region,” commented Tom Greenwood, CEO of Volt.
Megatix, an Australian ticketing platform, will be the first merchant to implement Volt technology. It will allow customers to select “Instant Bank Transfer” during checkout. This provides buyers with a faster, more secure payment method while helping Megatix avoid credit card fees.
Megatix CEO Roshan Odhavji added that Volt’s real-time capabilities will “transform the payments industry.”
To support the launch in Australia, Volt plans to establish a local office and recruit new recruits in the country soon. Recently, the company announced that Matt Komorowski has joined Volt as its new CRO.
Australia adopts new payment technology
A current study from Cognizant places Australia as a leading country in the adoption of new payment technologies, second only to China. At the same time, Juniper Research predicts that the global value of open banking Payments
Payments
One of the basic means of exchange in the modern world, a payment constitutes the transfer of legal tender or equivalent from one party in exchange for goods or services to another entity. The payments industry has become an essential part of modern commerce, even though the players involved and the means of exchange have changed dramatically over time. In particular, a party making a payment is called a payer, with the payee being the individual or entity receiving the payment. payment. The most common
One of the basic means of exchange in the modern world, a payment constitutes the transfer of legal tender or equivalent from one party in exchange for goods or services to another entity. The payments industry has become an essential part of modern commerce, even though the players involved and the means of exchange have changed dramatically over time. In particular, a party making a payment is called a payer, with the payee being the individual or entity receiving the payment. payment. The most common
will reach $330 billion by 2027.
“Australia is behind China as a leading market in new payment technologies and adoption. While NPP is pioneering new payment pathways for open banking, companies like Afterpay have emerged outside of these pathways, showing that customers are eager to adopt innovative financial products that offer utility and convenience. , comments the report.
UK-based real-time payments platform Volt has announced its launch in Australia. This marks the company’s continued global expansion following its $60 million Series B funding round earlier this year.
Volt enables real-time bank transfers between consumers and merchants. It already operates in the UK, Europe and Brazil. With over 5,000 banks integrated into its network, Australia represents a significant new market entry for Volt and the entire real-time payments industry.
In Australia, Volt will partner with PayTo, a digital wallet
Digital Wallet
A digital wallet is a popular mechanism referring to an electronic device, online service or software program that allows one party to conduct electronic transactions with another party. It involves bartering or exchanging digital currency, including cryptocurrency, for goods and services. Money can be deposited into the digital wallet before any transaction, which also includes an individual’s bank account linked to the digital wallet. A digital wallet can include more than just Digi
A digital wallet is a popular mechanism referring to an electronic device, online service or software program that allows one party to conduct electronic transactions with another party. It involves bartering or exchanging digital currency, including cryptocurrency, for goods and services. Money can be deposited into the digital wallet before any transaction, which also includes an individual’s bank account linked to the digital wallet. A digital wallet can include more than just Digi
supplier, to allow consumers to pay from account to account. Real-time payments are still relatively new in Australia compared to debit and credit cards. However, reports show growing consumer demand for faster payment options through open banking.
“I’m excited to finally introduce our technology to the Australian market and begin our journey into the APAC region,” commented Tom Greenwood, CEO of Volt.
Megatix, an Australian ticketing platform, will be the first merchant to implement Volt technology. It will allow customers to select “Instant Bank Transfer” during checkout. This provides buyers with a faster, more secure payment method while helping Megatix avoid credit card fees.
Megatix CEO Roshan Odhavji added that Volt’s real-time capabilities will “transform the payments industry.”
To support the launch in Australia, Volt plans to establish a local office and recruit new recruits in the country soon. Recently, the company announced that Matt Komorowski has joined Volt as its new CRO.
Australia adopts new payment technology
A current study from Cognizant places Australia as a leading country in the adoption of new payment technologies, second only to China. At the same time, Juniper Research predicts that the global value of open banking Payments
Payments
One of the basic means of exchange in the modern world, a payment constitutes the transfer of legal tender or equivalent from one party in exchange for goods or services to another entity. The payments industry has become an essential part of modern commerce, even though the players involved and the means of exchange have changed dramatically over time. In particular, a party making a payment is called a payer, with the payee being the individual or entity receiving the payment. payment. The most common
One of the basic means of exchange in the modern world, a payment constitutes the transfer of legal tender or equivalent from one party in exchange for goods or services to another entity. The payments industry has become an essential part of modern commerce, even though the players involved and the means of exchange have changed dramatically over time. In particular, a party making a payment is called a payer, with the payee being the individual or entity receiving the payment. payment. The most common
will reach $330 billion by 2027.
“Australia is behind China as a leading market in new payment technologies and adoption. As NPP leads new payment pathways for open banking, companies like Afterpay have emerged outside of these pathways, showing that customers are eager to adopt innovative financial products that offer utility and convenience,” the report comments. .