Blog

Learn how cross-border payments platform, Instarem, uses Monoova’s API to deliver payments at speed, automate reconciliation and enhance their customer experience through transparency of payment outcomes.

In the fast-paced world of lending cash flow is king. Prompt payment collection improves cash flow, which can lead to increased revenue. Your ability to operate smoothly and grow your business depends on the repayments from your borrowers. But what happens when those payments are delayed?

The wagering industry is a dynamic and ever-evolving space, particularly in Australia, where sports betting is deeply ingrained in the culture. Expected to reach $155 billion globally by 2024*, the industry is on an upward trajectory fuelled by technological advancements. We examine the history of payments in the industry and what the future holds.

Last week we announced that Monoova have joined forces with Primer to incorporate both PayTo and PayID into their commerce and payments automation platform. The move provides Primer’s global customers, with operations in Australia, access to New Payment Platform’s real-time payment method. Spearheaded by the Reserve Bank of Australia (RBA), PayTo is set to transform the management of direct debits in Australia.

Usage and awareness of PayID continues to grow with recent research conducted by NPP Australia revealed that 47% of users use PayID at least weekly. Monoova’s early support for PayID for business use cases has meant that more than 10%+ of all PayIDs registered to date have been created by Monoova. But what exactly is PayID? Where did it originate from and what benefits does it provide to businesses?

We answer some common questions on how Monoova’s Automatcher works and how it can improve business efficiencies when it comes to automatic reconciliation.

Real-time payments enable businesses and financial institutions to process payments seamlessly. It’s ‘always-on’, meaning businesses can make instant payments anywhere and anytime, including weekends and public holidays.