The Australian Forex and OTC derivatives trading broker Mitrade has teamed up with NPP-powered payment platform Azupay to make deposits and withdrawal of funds in real time and secure for its customers in Australia.
Mitrade is a Forex trading platform, while Azupay is a provider of consumer-to-business payment solutions in Australia.
Azupay powers its consumer-to-business transactions using PayID and New Payments Platform (NPP).
A Mitrade representative said: “We are delighted to announce that Mitade is collaborating with Azupay to smooth out our payment process. Now Mitrade users in Australia can transfer payments in real time without delay in the clearance of funds.
“Mitrade users can deposit funds instantly in their Mitrade accounts whenever they want to enter the market and trade forex, as well as commodities, major indices, shares and more.”
Mitrade rolled out a trading platform in 2019. Following the launch of the platform, it launched mobile apps for iOS and Android.
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The platform stated that it has expanded into a 1,100,000-user family in less than three years driven by robust risk management, transaction transparency, and wide research tools.
Azupay representative said: “Now Mitrade customers in Australia can deposit or withdraw money in their Mitrade accounts in seconds. There will be no delayed transfers over the weekends or during public holidays. Azupay works 24/7, 365 days a year to ensure each payment arrives on time, always.
“Mitrade customers will use a system-generated unique pay ID to deposit funds, which makes the transaction fast and secure. Similarly, Mitrade will use an ID as well to transfer funds instantly in their consumers’ bank accounts. Azupay ensures zero clearance time for funds. We believe our long-term strategic partnership with Mitrade will benefit all stakeholders, especially our users.”
Azupay is integrated with several accounting systems and ERP such as Xero. Furthermore, as it is independent of banks, customers can continue to transfer funds using their Azupay account even after changing their bank accounts or banks.