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Novatti Group (ASX:NOV) is a digital banking and payments company enabling simple, fast and secure payments. Founded in 2015 the company offers software application for consumer digital wallets, branchless banking, mobile money, bill payments, voucher management systems along with utility and payment services.
With its unofficial tagline ‘enabling businesses to be pay and be paid’ Novatti’s strengths are in its technology, licences, and approach to forming global partnerships.
The company has secured partnerships with global payment leaders including Apple Pay, Google Pay, Samsung Pay, and UnionPay and is collaborating with Afterpay on a prepaid Visa program in New Zealand.
The company holds an Australian Financial Services Licence (AFSL) in the domestic market and is working to obtain similar licences for the European Union and Singapore.
Other key growth areas for Novatti include point-of-sale payments for ecommerce, merchant billing, and cross-border payment transaction services.
The company’s focus has been on B2B facilitating payments between parties that include banks, fintechs and non-financial businesses. However, B2C is also strongly on its horizon with plans to become a bank with the ability to accept deposits and offer savings accounts.
Novatti has lodged an application with APRA under the banking regulator’s P-plate scheme to enable fintechs to transition to a bank structure.
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