Digital payment solutions provider AsiaPay has joined forces with Australian fintech Azupay to facilitate real-time payments in Australia.
Through this partnership, e-commerce and online merchants in the country can now receive payments instantly.
For consumers, the companies will jointly introduce real-time digital payments for customers to shop online or via their mobile devices.
Azupay is a consumer-to-business (C2B) real-time digital payment method powered by PayID, debiting payments directly from bank accounts.
The partnership is aimed at providing Australia’s e-commerce sector with AsiaPay’s payment gateway ‘PayDollar’.
PayDollar will help expand the merchant network of Azupay.
It is created on Australia’s New Payment Platform (NPP) and eliminates the need for AsiaPay’s merchants to use their own PayID to accept instant payments.
For consumers, Azupay serves as an alternative to cash as it provides a single-use PayID and matching QR code to help consumers pay instantly.
The consumers only require an Australian bank account.
Azupay head of sales Chris Haylock said: “We are excited to be partnering with AsiaPay to bring real-time, account to account payments to AsiaPay’s Australian customer base.
“Azupay drastically reduces fraud and eliminates chargebacks, which is a real game-changer for the Australian eCommerce market.”
AsiaPay CEO Joseph Chan said: “This strategic agreement will bring more flexible payment methods and excellent consumer experience to customers.
“We are honoured to work with Azupay to provide consumers with greater payment convenience and acceptance at digital merchants of AsiaPay throughout Australia.”