Acquiring licences awarded by Visa and Mastercard

ASX-listed Novatti, a leading fintech that enables businesses to pay and be paid, has confirmed that it has been awarded acquiring licences by both Visa and Mastercard. Novatti is now a Principal Member of Mastercard for Acquiring Services, in addition to its Principal Member status with Visa for Issuing and Acquiring.

Novatti’s acquiring business enables merchants, particularly those in e-commerce, to accept payment from consumers, including through credit cards, direct debits, and other mechanisms such as Alipay and WeChat Pay. The business has a rapidly growing customer base, including a number of financial services and business customers of Novatti’s other business units, who have sought additional services.

Managing Director of Novatti, Peter Cook, said, “Being awarded acquiring licences by both Visa and Mastercard, two leaders of the payments industry, adds to the real strength of our ecosystem. We see payment acquiring as an area of strong growth for Novatti, particularly as businesses continue to move online following COVID-19. By securing these capabilities now, we are well placed to capture significant future growth. Moving to a position of being a Principal Acquiring Member enables us to generate a higher gross margin in our acquiring business over the long term.”

Source: https://australianfintech.com.au/acquiring-licences-awarded-by-visa-and-mastercard/