UK FinTech Volt launches real-time payments platform in Australia
By Delisha Fernandes
Volt, a real-time payments platform, has announced its expansion into Australia following a period of sustained growth and a successful Series B funding round of $60m.
The UK-headquartered FinTech company has already established itself across the UK and Europe, and expanding its global footprint by entering the South American market via Brazil in 2021. With a network of more than 5,000 banks, Australia represents a significant milestone for Volt and the account-to-account (A2A) payments industry.
Tom Greenwood, Founder and CEO of Volt, said, “I am incredibly excited to finally introduce our technology to the Australian market and begin our journey into the APAC region. Our goal at Volt is to revolutionise the payments sector and create a solution that significantly benefits not only merchants who use our technology but their customers as well. Australia is fast becoming a key market for many global businesses and similarly to Brazil when we launched there, our introduction into this fast-growing market will be transformative to the payments space.”
While the adoption of real-time payments in Australia is still relatively new, with debit and credit cards dominating the payment landscape, Volt’s gateway will be integrated with PayTo, an Australian digital payment platform that enables consumers to authorise and control payments directly from their bank account.
Megatix, a ticketing platform in Australia, became the first local merchant to integrate Volt’s technology. With Volt’s real-time payment capabilities, Megatix customers in Australia now have the ability to select ‘Instant Bank Transfer’ as a payment option at checkout. Not only does this help vendors to bypass costly credit card fees, but it also offers customers a more secure, fast and seamless payment option.
Roshan Odhavji, CEO of Megatix, said, “Our goal is to be at the forefront when it comes to creating an innovative ticketing platform and we have found the perfect payment technology partner in Volt to do just that. With Volt’s industry leading real-time payment capabilities, we’re now able to offer our customers a slick checkout experience, and be the first in the market to do so.”
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