Australian fintech pioneer Monoova unites with Primer to meet growing demand for flexible digital payments
Leading Australian real-time payments provider Monoova has partnered with UK fintech Primer, the world’s first no-code commerce automation platform, to facilitate easier, seamless payments. The announcement comes as the ecommerce industry meets at the iMedia Online Retail Summit Australia, held this week on the Gold Coast.
With this partnership, Primer – often referred to as an ‘app store for commerce and payments’ – will now 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 transform 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 recently 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.
Kailash Madan, Head of APAC at Primer, said, “We are excited to partner with Monoova and add PayTo and PayID to the Primer platform, providing our 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.”
Christian Westerlind Wigstrom, CEO of Monoova, added, “At Monoova, we specialize in automating high volume payments across multiple payment rails. For years we have made sophisticated payment methods available to technology platforms. This partnership will not only support our clients to scale even 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.
“As one of the first payment initiators to switch on PayTo, we’re excited to bring that product to an international audience looking to tap into the opportunities of the Australian market.”
As an award-winning pioneer in the Australian fintech space, Monoova works with customers like Wisr, Jacaranda, HNRY and Instarem providing payment solutions to process anywhere from 1,000 to millions of payments per month. The partnership with Primer will enable Monoova’s clients to capture even more transactions, providing a seamless and safe experience for customers’ end-users.