With this partnership, Primer will offer PayTo and PayID enabled by Monoova, in addition to over 100 commerce and payment apps available on its platform. The move provides Primer’s global customers, with operations in Australia, access to New Payment Platform’s real-time payment method, spearheaded by the Reserve Bank of Australia (RBA), that is set to innovate the management of direct debits in Australia.
In the near future the partnership will also enable Monoova’s customers in Australia to access more digital payment options, including Apple and Google Pay through Primer, giving Australian businesses a bigger piece of the ecommerce pie at home and abroad.
With Australia Post's Inside Australian Online Shopping report revealing that only 6% of international customers bought from Australia in 2022, this partnership will open the door for Australian businesses to access the rapidly-growing digital payment markets in Asia and further afield.
As Primer’s executives say, they are happy to partner with Monoova and add PayTo and PayID to the Primer platform, providing their customers with access to real-time, direct bank-to-bank payments in Australia. With digital wallets predicted to become the main payment method for Australian consumers as early as 2025, and with an influx of new digital payment options, expanding the breadth of payment options will be key for business growth.
Monoova’s officials stated they specialise in automating high volume payments across multiple payment rails. They have made sophisticated payment methods available to technology platforms. This partnership will not only support clients to scale faster with improved cash flow and efficiencies and instant 24/7 settlement, it will also give access to a broader range of digital payment options.
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