Payments platform Volt expands to Australia
After launching in Brazil two years ago, Volt is continuing its expansion with plans to make a number of “significant hires” in Australia very soon
Five months after securing a $60m funding round, London-based payments platform Volt is expanding to Australia.
The global, real-time platform is venturing across the world following a period of sustained growth, having launched in Brazil with Pix in 2021 and established itself across Europe.
With a network of more than 5,000 banks in Australia, the fintech’s arrival marks a significant milestone for the company, and it plans to make “a number of significant hires” in the near future to manage and grow the market.
“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,” Volt founder and CEO Tom Greenwood said.
“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.”
Volt described the expansion as a “significant milestone” not only for the company but also for the account-to-account payments industry.
Currently the adoption of real-time payments is relatively new to Australia, with debit and credit cards dominating, but according to a Cognizant report it is the second leading market in the adoption of new payments technology.
Volt’s gateway will be integrated with PayTo, an Australian digital payment platform which allows customers to authorise and control payments from their bank accounts.
The platform has already integrated its technology with Megatix, one of Australia’s fastest-growing ticketing platforms, allowing customers to make instant bank transfers as a payment option.