Monoova launches real-time payments in Australia for world's first universal payments platform, Optty

SYDNEY, Nov. 15, 2023 /PRNewswire/ -- The world's first universal payments platform Optty has partnered with Australia's largest PayTo provider Monoova to gain access to Australia's payment rails, including PayTo, PayID, BPAY, and online card payments, all via Monoova's API. 

Optty has already completed over 600 integrations across nine unique payment architectures. Available in 120 currencies and 140 countries, Optty has partnerships with over 100 Alternative Payment Method (APM) & Buy Now Pay Later (BNPL) providers, including Afterpay, Klarna, Grab, Zip, Shopback and Humm.

Travlr, a platform that allows users to create, build, and launch their own ecommerce travel websites, is the first client to benefit from the Monoova-Optty partnership.

As a result, Travlr will be able to offer any enterprise, travel agent or advisor, any budding entrepreneur or travel company access to PayTo, Australia's exciting new real-time, account-to-account, checkout solution delivered on the New Payment Platform (NPP).

PayTo offers a digital means for businesses to initiate surcharge-free, real-time payments from customers' bank accounts, while giving customers visibility and control over the payment arrangements linked to their bank account.

The partnership with Monoova will be particularly game-changing for Optty's specialisation in servicing industries characterised by high-value purchases.

This is because Monoova's payment solutions, including PayTo, solve the high cost and poor experience for both consumers and merchants inherent in conventional payment methods for high-value purchases, such as flights and hotel bookings.

Partnering with a pioneer in payments aligns perfectly with Monoova's commitment to innovation and helping businesses to scale large, ongoing transaction flows seamlessly and affordably, according to Monoova.

Christian Westerlind Wigstrom, CEO and Co-founder of Monoova, said: "Monoova's powerful all-in-one API allows businesses like Optty to seamlessly add all Australian rails to their existing payment solution. Partnering with Optty to enable real-time payments in Australia is another example of our commitment to pioneering, amplifying, and simplifying the world of payments for all businesses in Australia. With this partnership, we are not just facilitating payments; through Optty's orchestration platform we're enabling faster and improved experiences for business and end users alike."

Natasha Zurnamer, Founder and CEO of Optty, underscored the company's dedication to reshaping payments integration. "Optty stands for innovation and excellence in payments, uniting payment providers with merchants in a seamless single API and supporting PSP's and Gateways with our advanced technology," Zurnamer stated. "We aim to transform integration to provide an unprecedented and inclusive payments offering enabling expansive choices for merchants and consumers alike."

"In line with our vision, we partner with industry innovators like Monoova, one of Australia's leaders in PayTo and account-to-account payments. This alliance exemplifies our drive to advance payment technology. Working with Monoova, we're set to introduce breakthrough solutions that will enhance the payment experience and deliver unmatched value to our merchants, partners and ultimately consumers."

Monoova (www.monoova.com) is one of Australia's leading B2B digital payments providers. It is a pioneer in the Aussie fintech space and was one of the first providers of PayTo (real-time alternative to direct debits). Monoova helps businesses with large, ongoing transaction flows to manage all payments automatically, through one simple API integration. This means significant cost reduction, increased efficiency, speed and enhanced ability to scale. Aside from PayTo, their solutions include enhanced Direct Debit, BPAY, Direct Entry, NPP, and Cross-border Payments.

SOURCE Monoova