Fintech innovator @Pay has announced its decision to utilise Pismo’s cloud-native, API-based platform to bolster its operations in Australia.
@Pay is a trailblazer in the realm of decentralised finance (DeFi), boasting the first Buy Now Pay Later (BNPL) platform in the region that seamlessly integrates blockchain technology with cryptocurrency. This revolutionary platform empowers merchants to effortlessly receive payments from customers for both in-store and online transactions.
Operating under the Enhanced Regulatory Sandbox license granted by the Australian Securities and Investments Commission (ASIC) and registered with the Australian Transaction and Reports Analysis Centre (AUSTRAC), @Pay uses the Pismo core banking platform to offer an array of services. These include BNPL, debit, credit, and prepaid cards, as well as tokenizing cards for inclusion in Apple and Google wallets.
The @Pay platform is poised for a soft launch in Australia, with commercial release slated for Q1 2024. Ambitious expansion plans are also on the horizon, with the GCC region and North America as potential markets later in 2024.
“Pismo, being a cloud-native player in this space, provides us with the agility to offer best-in-class core banking technology to consumers and merchants. It also supports our BNPL and card management programs,” says Sahir Nadeem, CTO of @Pay. “With Pismo, we will maintain control over payment authorizations so that users can utilize our services only at partnered merchants. Pismo’s cloud-native platform also enables AtPay to enter new geographies with scalability, security, and serviceability as we expand our footprint internationally.”
Currently, @Pay is working on a project that has already secured over 150 active corporate clients. Grow Finance has been announced as the BIN sponsor for @Pay.
Vishal Dalal, CEO (North America, EMEA, and APAC) at Pismo, shares his excitement about the collaboration. “@Pay has an ambitious mission: to make a difference in Australia and the multi-trillion dollar payments industry at large globally. We are thrilled to help them in this journey with our cloud-native, API-based platform.” He adds that “@Pay’s aspiration to expand beyond Australia aligns perfectly with our platform’s capabilities to play a pivotal role in supporting @Pay’s growth.”
With its strategic partnership with Pismo, @Pay is set to redefine the BNPL landscape, innovate the DeFi space, and make significant strides in the global payments industry.
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