Fintech expands into Australia

Tuesday 22 March 2022 12:25 CET | News

Netherlands-based payments company has announced its expansion into Australia amid regulatory changes in the BNPL and gift card sectors.

The Australian Securities and Investments Commission has shown that one in five customers missed BNPL payments in 2018-2019. To introduce more oversight around the sector, Australia’s central bank announced stricter regulation in October 2021, meaning that firms like Afterpay would no longer be able to stop merchants from passing on surcharges for their services.

Alongside these measures is a rising interest in the Pay Now, Buy Later (PNBL) sector, driven by branded payments and gift cards that can be purchased upfront and used at a later date. The adoption of gift cards increased during the COVID-19 pandemic, with employers incentivising staff through providing such cards that employees could use for shopping, entertainment, and call credit, as per the press release.

The trend bodes well for, a one-stop-shop marketplace of various categories of branded payments, including call credit, data bundles, shopping, entertainment, gaming, and prepaid money. One of’s advantages is that unlike local websites and other global brands operating in the market, the fintech firm is offering a seamless user experience that takes in local preferences and requirements through its platform’s design and functionalities.

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Keywords: BNPL, gift card , ecommerce, fintech, prepaid card
Categories: Payments & Commerce
Countries: Australia
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Payments & Commerce

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