Novatti launches multi-currency platform for Australian bill payments

Novatti Group Limited (ASX:NOV), a leading fintech enabling businesses to pay and be paid, has launched Novatti BillPay, a platform connecting businesses offering BPAY® bills and payees.

Novatti BillPay enables businesses with BPAY® bills to accept payments from people overseas who prefer to pay in their currency of choice using digital wallets. Designed for international students, new migrants and people overseas without access to an Australian bank account, users can choose to pay their Australian bills such as tuition fees, rent, utility bills and council fees using a range of Asian currencies as amended and updated from time to time.*

While the Novatti BillPay platform is new, Novatti Group (ASX:NOV)’s subsidiary, Flexewallet Pty Ltd trading as ChinaPayments, has been offering consumers and businesses a simple and secure solution that enables them to pay their BPAY® bills using Chinese payment methods such as UnionPay, WeChat Pay and Alipay since 2017.

With a strong market presence and uptake amongst Chinese users, this has created an opportunity for Novatti to extend its bill payments service to the wider Asia-Pacific region and potentially other markets in the future to facilitate effective cross-border payments in and out of Australia.

Novatti BillPay can offer whitelabel solutions to BPAY® billers and merchants, diversifying their payment methods. This is particularly beneficial for businesses that have global customers with different payment preferences. Novatti BillPay offers competitive fees and market exchange rates through its simple and secure platform which will improve the speed of payments and enhance customer experience.

Vincy Wong, Head of ChinaPayments, said, “We’ve seen the ChinaPayments platform grow year on year in usage with the feedback that this service is easy to use and efficient as users are already familiar with the likes of Alipay, WeChat Pay and UnionPay.

We are excited to launch Novatti BillPay into new markets by capitalising on the foundations laid by ChinaPayments. Our goal is to service customers globally and empower billers with strong payment capabilities by leveraging the platform and partnerships we’ve built over time.”

Disclosure: At the time of writing, Australian FinTech Pty Ltd is a shareholder of Novatti Group Limited.