DataMesh Group partnership with global payments giant Ingenico shows opportunities aplenty for Australian fintechs
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Special Report: DataMesh Group partners with global payment provider Ingenico to roll out DX8000 terminals in Australia and bolster technology offering
The fintech sector has taken a beating on the ASX in recent months, but this hasn’t stopped emerging players from making significant partnerships with global service providers to deliver advanced payment and commerce services to Australian merchants and retailers.
DataMesh group, the Sydney-based payment services software company and Ingenico, a Worldline brand, confirmed a strategic partnership to support DataMesh’s growth strategy within the Australian payment ecosystem.
The centrepiece of the partnership involves the roll out of Ingenico’s latest Axium range of Android Smart Point Of Sale (POS) terminals to DataMesh’s merchant and retailer network across Australia.
A decade ago, global financial services were ruled by banks, insurance companies and asset managers which made up 90 percent of the sector. But according to recent reports, this plunged to 65 per cent in late May, despite the abrupt sell-off in technology stocks.
Established payment provider Airwallex has extended a partnership with Xero (ASX: XRO) while highly regarded EML Payments (ASX: EML) has expanded its open banking network through subsidiary Nuapay to 20 new countries covering the European market, signalling that while the market might be struggling, the fintech sector’s offerings remain much sought after.
As businesses emerge from the pandemic, innovative payment solutions are being adopted en masse to draw in customers and streamline transactions.
For Ingenico, partnerships with the calibre of players like DataMesh advances its strategy to enable seamless payments, cementing its position as an ecosystem enabler empowering commerce and retailers across all channels.
Commenting on the successful pilot between DataMesh and Ingenico, Anushka Weeratunga, Managing Director for Ingenico Pacific said, ‘We are delighted to form this long-term strategic partnership with DataMesh into the highly dynamic Australian market as well as support Datamesh with the full set of Ingenico’s market leading capabilities.”
DataMesh founder and CEO, Mark Nagy mirrored the sentiment stating, “Ingenico is trusted amongst merchants and acquirers globally, so naturally this partnership helps us expand our offering and confidently seed our payments technology into new markets. At DataMesh, we are determined to make elegant and seamless solutions for all parties involved in financial payments, and we believe Ingenico shares this belief.”
Coming off a recent $12 million capital raise with cornerstone investment by NAB Ventures, the strategic partnership could enable DataMesh’s growth across Australian and Asian markets, marking a new chapter in its quest to revolutionise backend payments for merchants.