Volt, a pioneering real-time payments platform based in the UK, has recently announced its expansion into Australia. The company, renowned for its innovative financial technology solutions, has been growing rapidly, extending its services beyond the UK, Europe, and Brazil.
This move into Australia comes on the heels of Volt’s successful $60m Series B funding round. Recognized for its ambitious growth plans, Volt aims to meet the increasing global demand for real-time payment solutions. The company’s global presence, now inclusive of Australia, highlights its commitment to revolutionizing the account-to-account (A2A) payments industry.
Volt’s core business revolves around providing seamless real-time payment platforms. Established in the UK and Europe, and having made strides in Brazil, Volt has built a network encompassing over 5,000 banks. The integration of Volt’s gateway with PayTo, an Australian digital payment platform, underscores this commitment, enabling Australian consumers to enjoy a top-tier PayTo payment experience.
In Australia, where traditional payment methods like debit and credit cards are predominant, there is a growing interest in innovative payment solutions. A report from Cognizant pegs Australia as the second largest market for the adoption of new payment methods and a report from Juniper Research predicts open banking payments to reach a staggering $330bn globally by 2027.
Tom Greenwood, Founder and CEO of Volt, said: “I am incredibly excited to finally introduce our technology to the Australian market and begin our journey into the APAC region. Our goal at Volt is to revolutionise the payments sector and create a solution that significantly benefits not only merchants who use our technology but their customers as well.
“Australia is fast becoming a key market for many global businesses and similarly to Brazil when we launched there, our introduction into this fast-growing market will be transformative to the payments space.”
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