This marks an expansion of Novatti’s existing acquiring business in Australia, after being given acquiring licences in Australia by both Visa and Mastercard in November 2021. Under Novatti’s unified commerce solution, merchants can enable a seamless omni-channel experience by consolidating online, face-to-face, and in-app payments into one centralised system.
Merchants will be able to offer a mix of traditional payment methods including credit cards and direct debits as well as alternative payments such as Alipay, WeChat Pay, and potentially in the future Novatti’s very own payment method, PayxCrypto (patent pending).
By leveraging Novatti’s core digital wallet capability, merchants can also offer customers the ability to split a payment into multiple wallets and further magnify customers’ payment needs. The company also offers PayProtect, a chargeback guarantee that reduces the incidences of fraud and increases approval rates.
Company officials stated that they are happy to be able to offer New Zealand merchants their unified commerce solution which they believe will solve many of the business pain points around not being able to offer customers split payments and a diverse range of payment methods.
In addition, Novatti is a Principal Visa Issuer in Australia and Associate Member in New Zealand, offering end-to-end solutions for companies seeking to issue white-label physical and digital Visa prepaid and debit cards.
In October 2022, Riskified partnered with payments company Novatti to provide more secure payment solutions. The two companies have entered an exclusive partnership that allows Novatti to incorporate Riskified’s Chargeback Guarantee technology. This makes Novatti one of the only online card processor in the Asia Pacific region that guarantees 100% protection against fraudulent chargebacks to businesses.
According to techbusinessnews.com.au, the solution serves 400 million shoppers across over 180 countries, and more than 100 data points are captured per transaction. Novatti officials cited by the same source touched on the benefits of implementing Riskified’s fraud prevention technology, as they are now able to assist their ecommerce businesses that are facing high volumes of chargebacks and low approval rates.
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