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Finmo introduces Direct Real-Time Payment (RTP) Integration in Australia

By Gloria Mathias

April 18, 2024

  • Australia Fintech Australia News
  • Domestic Payments
  • Finmo
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Finmo, MPI, Singapore, Payments, TOS, Fund Management, Major Payments Institutions, Singapore Dollars SGD, Domestic Payments, Fintech News, Australia Fintech Australia News, RTP, Real-Time Payment (RTP) Finmo, a Singapore-headquartered global payments company, has announced its direct integration with Australia’s New Payment Platform (NPP) as an identified institution through its partner bank, Australian Settlements Limited (ASL).

This collaboration marks a milestone for ASL to partner with global FinTech Finmo to offer real-time payment (RTP) capabilities to domestic and international merchants.

This strategic partnership further expands Finmo’s regional and global network capabilities and is additive to its ability to provide RTP solutions to its growing merchant customer base. The integration also marks Finmo’s commitment to continuously improve and add to its solutions and offerings in Australia and complements the company’s established presence in Singapore, Thailand, the Philippines, New Zealand, the USA, Europe, and broader Southeast Asia.

“Australia holds significant importance for us. As a licensed Australian Financial Services (AFS) provider, we are dedicated to delivering relevant and meaningful products and services to our local merchant base while leveraging our regional expertise to foster their global growth. We are privileged to be the inaugural Fintech partner for ASL in the Australian market and are confident in our ability to offer Australian businesses a distinctive proposition that adds tangible value,” shared David Hanna, CEO of Finmo.

In addition to achieving these milestones, Finmo has made substantial additions to its global team, doubling the size of its product and technology teams to strengthen its product-led approach. The team expansion is the company’s strategic investment made based on its customer-first operating principles and as a response to substantial year-on-year growth in Finmo’s customer base in Australia and Singapore. It also marks Finmo’s prioritisation of product delivery and customer service for its partners and customers.

Key features of Finmo’s offerings include:

  • Global Currency Accounts (GCA), enable businesses to transact seamlessly in multiple currencies.
  • Competitive domestic and cross-border money transfer services, empowering businesses to capitalise on favourable exchange rates.
  • Streamlined multi-currency wallets and online payment acceptance foster a convenient and efficient payment ecosystem for companies operating globally.

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