Global Payments steps in to support payment facilitators as Big Banks retreat
International payment technology services provider Global Payments is spearheading a new domestic merchant acquiring strategy in Australia with an innovative and secure solution, amid the withdrawal of some financial institutions from the sector.
There are around 50 payment facilitators in Australia and New Zealand with a combined total transaction value in excess of $108 billion per year.
“Global Payments is focused on bringing competition and innovation to the Australian market as an acquirer,” said Mark Healy, Managing Director Global Payments, Australia and New Zealand.
“We are uniquely positioned to offer clear competitive advantages over other acquirers, providing more choice for payment facilitators as an alternative acquirer from the big banks, like Macquarie, National Australia Bank and Westpac, which have all reconsidered their support to the broader payment industry.
“Global Payments offers the only solution enabling payment facilitators to have all functionality under one roof, including BPAY, direct entry, EFTPOS and credit card acceptance.
“Previously, payment facilitators would need to invest significant time and resources to manage the complexity of each functionality with separate suppliers. Furthermore, with multiple supplier relationships, payment facilitators are unable to leverage this to drive pricing discussions.”
Mr Healy said Global Payments has access to a global network of payments platforms that allows payment facilitators to tap into many resources to grow their business.
“This allows us to provide more options to customers in terms of how they take payments and innovate and co-create with them to solve complex payment needs,” he said.
“We are also committed to keeping our payment facilitator data confidential, unlike other acquirers that may use this data at their discretion.”
U.S.-based Global Payments Inc (NYSE:GPN) entered the Australian marketplace in 2014 through the acquisition of an Australian payments technology company, followed by the purchase of a payment gateway provider in 2016.
