Australia

Pay by Bank is transforming how consumers pay online and in person, but the uses and benefits are not yet widely understood.

Brand loyalty in Australia is declining, but payments are now giving marketers the ability to buck the trend. We are witnessing the emergence of a marriage between payments and loyalty unlike anything we’ve seen before - and you don’t have to be a wealthy business owner with a frequent flyer credit card to benefit.

Payments and loyalty working together as one seamless experience for the consumer

A new cardless payment option offers Amazon shoppers a convenient and secure way to make payments. This partnership strengthens Banked’s presence in the Australian market for account-to-account payments, demonstrating its commitment to building a truly global Pay by Bank platform. The growing demand for Pay by Bank solutions is being driven by consumer brands worldwide, with Amazon’s implementation of PayTo setting a precedent for tier-one global brands to embrace account-to-account payments.

Banked’s acquisition of Waave underscores our commitment to building a truly global Pay by Bank platform. Waave’s work with Chemist Warehouse in developing best-in-class Pay by Bank solution was a key factor in the deal. As consumer brands - not just banks - drive the global demand for Pay by Bank, combining Waave’s local expertise with Banked’s global capabilities positions us to offer the strongest end-to-end solution in Australia.