NAB acquires Banked to expand real-time payments infrastructure

By Aarav Garg

Banked has been acquired by National Australia Bank, to expand NAB’s push into account-to-account and real-time payments infrastructure as banks look to modernise merchant payment acceptance and reduce reliance on traditional card networks.

Banked provides a digital checkout platform that enables consumers to make payments directly from their bank accounts, allowing merchants to receive funds instantly without routing transactions through debit or credit card schemes. The technology is designed to lower payment costs for businesses while improving settlement speed and payment visibility.

The acquisition builds on an existing relationship between the two companies. NAB, through its venture arm NAB Ventures, had previously invested in Banked and has used its payment technology for business banking customers since 2024.

For NAB, the deal reflects the growing importance of account-to-account payments within the wider payments ecosystem. Real-time payment rails and open banking infrastructure are increasingly enabling banks and FinTech firms to offer alternatives to card-based transactions, particularly for ecommerce, bill payments and merchant collections.

The move also highlights broader competition in digital payments, where banks, FinTechs and payment processors are investing in faster settlement, embedded payments and lower-cost transaction models. Account-to-account payment technology has gained momentum globally as merchants seek ways to reduce interchange fees and improve cash flow management.

For FinTech firms, the trend points to continued demand for payment orchestration, open banking connectivity, merchant acquiring infrastructure and real-time settlement capabilities as digital payment preferences continue to evolve.