Paydock partners with Commonwealth Bank to launch PowerBoard

Tuesday 28 November 2023 10:48 CET | News

Institutional payment orchestration platform Paydock has partnered with Australia-based Commonwealth Bank to launch the PowerBoard payments offering.


This collaboration marks a new initiative in the global banking sector, allowing a major bank to offer a dynamic payment experience to customers through a single API integration without requiring an extensive infrastructure overhaul. After successful trials, PowerBoard is now accessible to eligible CBA business customers throughout Australia. 

PowerBoard provides CBA with the capability to offer merchants a unified access point to an extensive range of payment methods and providers, simplifying and enhancing the reliability of services. Merchants can effortlessly integrate additional features, such as advanced security tools, to detect and prevent fraud, through a user-friendly interface. 

According to the official press release, as consumer preferences evolve, PowerBoard responds to the increasing demand for choice in payment methods, catering to traditional credit card payments, local account-to-account payment schemes, digital wallets, and Buy Now, Pay Later options. Representatives from CBA cited by the same source highlighted PowerBoard's significance in enabling Australian merchants to provide choice to customers and manage their payment ecosystems without costly integrations. 

The growing interest in payments orchestration platforms is attributed to their value for major financial institutions and merchants, supported by the continued global growth in ecommerce activity.


Institutional payment orchestration platform Paydock has partnered with Australia-based Commonwealth Bank to launch the PowerBoard payments offering.


More information about Paydock

Paydock operates as a payment orchestrator, providing financial institutions and merchants with swift connectivity to fintech and payment systems without necessitating a significant overhaul of existing infrastructure. The platform, designed to be agnostic, effectively reduces costs and mitigates risks inherent in conventional multi-vendor payment solutions. Customers benefit from a seamless 'plug and play' mechanism for vendors, simultaneously addressing typical security vulnerabilities. 

Paydock's notable standing in the sector is attributed to its bank-grade security posture, marked by an auditable and traceable API stack. This security framework enhances the transparency and accountability of its operations, distinguishing it within the industry. 

In May 2023, the company closed a GBP 25 million (AUD 48 million) Series A funding round with Silverstripe Investment Management Limited in the UK to expand its payments orchestration services globally. Established in Australia in 2015, Paydock now operates in Australia, the UK, and the US, processing millions of payments monthly for businesses across various industries.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: partnership, product launch, banks, payments orchestration
Categories: Payments & Commerce
Companies: CommBank, Paydock
Countries: Australia
This article is part of category

Payments & Commerce




Discover all the Company news on CommBank and other articles related to CommBank in The Paypers News, Reports, and insights on the payments and fintech industry: