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Worldpay expands in Australia and launches in New Zealand

The Payments firm expects ecommerce in Australia to jump by almost 40 per cent over the next three years.

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Payments firm Worldpay is expanding its base in Australia and launching in New Zealand in a bid to capture a greater slice of Australasia’s growing ecommerce market.

The UK-based firm said it will open two offices in Melbourne and Sydney, with Sydney acting as its country headquarters.  

It said the move would allow it to provide a  better service to existing clients such as VGW, Skiddoo, Lonely Planet and Webjet.

The firm, which changed hands earlier this month, said ecommerce in Australia is expected to grow by more than 37 per cent over the next three years to be worth almost US$40m by 2022.

International clients

Stephen Koukoulas, managing director, of research group Market Economics outlines his overview of the Australian economy at the AltFi Australasia Summit next month.

Worldpay first entered the Australian market in 2016 when it became one of the first non-banking technology providers to acquire a domestic licence.

The company added its recent New Zealand licence will “make it easier for New Zealand-based firms to trade with the rest of the world, creating a seamless payment experience for both domestic and international clients”.

Market Competition

Worldpay Asia Pacfic general manager, global enterprise ecommerce Phil Pomford said: “While there’s a lot of competition from traditional providers, Worldpay can offer something different. Our investment and addition of this new licence will enable us to further provide unparalleled access to global markets to help eCommerce businesses deliver on their international growth ambitions.”

He added: “With our Australasian expansion, we want to show businesses in Australia and New Zealand that we’re the technology partner of choice to help them grow, and go global.”

Earlier this month, Worldpay was sold to US-based financial software firm Fidelity National Information Services in a cash and shares deal worth US$43bn.

WorldPay had been owned by the UK’s Royal Bank of Scotland, but was forced to the unit in 2010 as a condition of the bank's bailout following the financial crisis.

The AltFi Australasia Summit is at Sydney's Dolthouse on the 15th April.

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Stephen Koukoulas

Economics Advisor


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