Bendigo Bank has signed a deal with ASX-listed payments solutions provider Tyro Payments making the latter the exclusive merchant acquiring partner for its business banking customers.
There has been rapid growth in the buy-now-pay-later digital payments Australian market, with new research revealing 1.95 million Aussies used digital payments in the year to the end of September - up from 1.38 million in the previous 12 months.
A majority of Australians now use digital payments, according to a new report revealing that awareness of digital payments is now an almost universal 93.9%, with 72.4% using at least one digital payment method over an average 12-month period.
Payment service providers in the Asia Pacific region have been driven to offering online pay-later options to consumers hampered by limited borrowing options – with Australian consumers, and their Chinese counterparts, leading the way as early adopters of the deferred payments concept.
Just in time for the Amazon onslaught comes Kogan, choosing the new way for customers to pay for goods purchased, in what is yet another big win for the Zip platform.
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