Global: Novatti secures merchant acquiring licence in New Zealand

Novatti Group Limited (ASX:NOV), a leading fintech specialising in end-to-end payment solutions, has secured its merchant acquiring licence in New Zealand through its subsidiary, Novatti Acquiring Services (NZ) Limited. Novatti is one of the few non-bank acquiring providers in the country.

This marks an expansion of Novatti’s existing acquiring business in Australia, after being awarded acquiring licences in Australia by both Visa and Mastercard in November 2021.

Under Novatti’s unified commerce solution, merchants can enable a seamless omni-channel experience by consolidating online, face-to-face and in-app payments into one centralised system.

Merchants will be able to offer a mix of traditional payment methods including credit cards and direct debits as well as alternative payments such as Alipay, WeChat Pay and potentially in the future Novatti’s very own payment method, PayxCrypto (patent pending).

By leveraging Novatti’s core digital wallet capability, merchants can also offer customers the ability to split a payment into multiple wallets and further magnify customers’ payment needs.

Novatti also offers Novatti PayProtect, a chargeback guarantee that reduces the incidences of fraud and increases approval rates.

Kian Jackson, General Manager of Merchant Acquiring at Novatti, said, “We are excited to be able to offer New Zealand merchants our unified commerce solution which we believe will solve many of the business pain points around not being able to offer customers split payments and a diverse range of payment methods.”

“We see a lot of parallels between the New Zealand and Australian market from consumers’ overwhelming preference for digital payments through to the acceleration in fintech innovation. This expansion is an opportunity to offer complementary services to our existing global customers  with a presence in New  Zealand  while also capitalising on the existing business developments in New Zealand through Novatti’s other offerings.”

In addition, Novatti is a Principal Visa Issuer in Australia and Associate Member in New Zealand, offering end-to-end solutions for companies seeking to issue white-label physical and digital Visa prepaid and debit cards.