For ASX-listed payments companies, a partnership approach is key

The ASX is home to a number of payments companies looking to capitalise on the global shift towards digital payments.

And across both B2B and B2C channels, partnership strategies have emerged as a key trend in the race for market share.

Earlier this week, payments group Novatti (ASX:NOV) announced a partnership deal which will see its Visa Prepaid cards made available for Google Pay and Samsung Pay on Android devices.

Rewind slightly to August, and shares in fintech company 8common (ASX:8CO) ripped higher after the company unveiled a partnership with fellow ASX listee EML Payments (ASX:EML).

In the B2C space, Zip Co (ASX:Z1P) recently announced a new distribution agreement, which will allow the company’s BNPL customers to use its service in any retailer (physical store or online) where Visa is accepted.

And back in June, BNPL competitor Splitit (ASX:SPT) ripped higher on the back of a new agreement with Mastercard.

Speaking with Stockhead following this week’s announcement, Novatti CEO Peter Cook said partnerships are a key focus for the business as it looks to increase its slice of the digital payments space.

“Right at the moment, we’ve probably got more than 50 fintechs one way or another, that are connected to us,” he said.

“Whether that’s through our issuing platform, into cross border payments, into our China payments acquiring services.”

“So we think there’s an opportunity to be a B2B infrastructure player. And conversely, we’re connected to other fintechs and we use their services.”

To read more, please click on the link below…

Source: For ASX-listed payments companies, a partnership approach is key – Stockhead