Founded by a group of industry veterans, Waave taps open banking to offer Australians a Pay by Bank alternative to cards. Last year, the firm secured $4.7 million in seed funding.
The deal comes shortly after Banked entered Australian through a partnership with NAB and gives the UK firm access to a major client in one of the country’s largest retailers, Chemist Warehouse.
A2A payments takeup has been gathering momentum around the world, with Pix in Brazil and the UPI in India finding huge popularity. In Europe, the EPI’s new Wero wallet is widely expected to accelerate adoption of Pay by Bank, while in the US giant retailer Walmart is getting ready to enter the fray.
Brad Goodall, CEO, Banked, says: “Acquiring Waave is a major step forward in our mission to expand our global payments network. Australia is a key market for us, and Waave’s technology and market presence align perfectly with our vision.
