Banking Circle S.A. has completed its acquisition of Australian Settlements Limited (ASL), a licenced Authorised Deposit-taking Institution (ADI).
The deal was originally announced in December 2024, pending regulatory and closing conditions, which have now been met. The integration gives Banking Circle direct access to Australia’s domestic clearing and settlement systems, including the New Payments Platform (NPP), BECS, PayID, PayTo and BPAY. This move expands its service capabilities in the Australian market, particularly for banks, fintechs and payment firms seeking domestic and cross-border solutions.
Improving local infrastructure and global access
ASL’s experience in domestic payments and settlement will now integrate with Banking Circle’s international infrastructure. According to company representatives, the merged operations are expected to streamline access to local and global payment schemes through a unified platform. The services will be delivered through a single API, offering domestic financial institutions enhanced connectivity to global multi-currency accounts, foreign exchange, and international clearing systems.
Banking Circle began operating in Australia in 2023 via BC Payments Australia, which holds an Australian Financial Services Licence. The two companies formed an initial partnership shortly after to offer integrated domestic payment services, which has since evolved into a full acquisition. Both teams are now working on the consolidation of their systems and offerings.
Officials from Banking Circle stated that the demand for reliable, scalable infrastructure has grown as Australian financial institutions adapt to a shifting payments landscape. They said the combined platform will enable financial entities to streamline operations while maintaining compliance with domestic and international regulatory standards.
ASL, which has historically supported mutual banks, credit unions, and digital banks, will now be positioned to scale its operations as part of the larger Banking Circle framework. Representatives from ASL said the combined offering is expected to support clients’ full payment needs, both locally and internationally.
Banking Circle noted that one of the main outcomes of the acquisition is improved access for Australian institutions to real-time domestic payments, alongside global transaction capabilities. The infrastructure is designed to serve a range of financial firms, including those expanding into overseas markets.
