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The Australian banking ecosystem is undergoing a technical transformation. With the rollout of the NPP and the upcoming retirement of the BECS system in 2030, both businesses and consumers are getting accustomed to the new ways of doing things. One of the most innovative introductions is PayTo, a real time payment rail that allows for consumers to authorise recurring or one off payments of fixed and variable sums all while controlling the agreement

Reconciliation is a huge part of any finance team’s time, especially at the end of a financial period. Manual processes introduce the risk of human error, both on the side of the payments being made, and payments being received and allocated, causing headaches for everyone involved.‍ Explore how Monoova's reconciliation rules can reduce admin and bring efficiencies to your business.

Monoova recently held a panel discussion with payment experts and industry leaders on how payments can enable change, transformation and drive business growth. Panelists from Australian Payments Plus, Cuscal and Hnry share their commentary on how payments can drive value for consumers and businesses alike.

David Greene, Chief Commercial Officer at Monoova shares his top payment strategies for real estate agents to improve their bottom line.

From unmatched payments experience to world class technology and finally the people at Monoova, explore what led Stables to choose Monoova to power their payments.

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.

Rosie Slaughter, Senior Growth Manager at Monoova, shares her own experiences with childcare payments and how Monoova can address the current challenges faced by centres as well as childcare management platforms.

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?

"Without the API that Monoova provides, things like BPAY, direct debits, bank transfers, we would have to integrate and build all the componentry around it individually. With Monoova, we can just plug into 1 API and we can gain all that functionality. So there's a lot of cost saving in the go to market process for us rather than having to build all supporting infrastructure around those processes." Tristan Dakin, Country Manager, Australian & New Zealand explains how Monoova has been instrumental in providing the key payments infrastructure to send money internationally for their Australian clients.

In this week’s widespread Optus outage, it was interesting to see how PayID was a fallback payment method for savvy small businesses whose point of sale terminals were rendered useless. But PayID, and its sister PayTo, offer more than just a lifeline when connectivity is disrupted. Real-time account-to-account transfers, can offer valuable benefits that keep businesses running and money moving including: - Lower transaction costs - Enhanced security - Accessibility and versatility

"Over 95% of our transactions are in real-time. Using NPP with Monoova has been a game changer. We've been able to save an incredible amount of time and resource using Monoova's payment solution. We've been able to streamline the way we operate and receive funds from a lot of different customers." Dianne Nguyen, CEO, Eastern & Allied shares how Monoova's payment solutions have transformed their remittance business whilst resulting in time, cost and resource savings.

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.

"Monoova, is one of the most valuable partnerships we have in the Australian market. The Automatcher service has been instrumental to Hnry's success in Australian market through the ability to provision account on demand for seamless customer onboarding experience, as well as unique bank account no and PayIDs, ability to reconcile payments and ability to pay in bound and outbound using both NPP and outbound using BPAY."Karan Anand, Chief Strategy Officer & Managing Director, Australia at Hnry shares how Monoova's API-enabled payment solutions are successfully powering Hnry for growth in the Australian market by providing a seamless payments experience to their customers.

FinTech Australia has reorgnised its board, appointing one new member and several new roles.

Is PayTo something you should be looking at for your business? Here's our handy checklist to help you decide whether you're ready for PayTo. If you are currently handling a large number of debits and payment agreements with your customers then yes, it’s likely PayTo could bring efficiencies to your business.

Intersekt 2022 panel discussion on Payments as an Experience featuring Christian Westerlind Wigstrom, CEO, Monoova.

Monoova's CTO, Nicholas Tan, joins BDO’s Global leader for Fintech, Tim Aman and and Kallan Hogan from Mastercard to discuss the driving forces behind the payments revolution and how modern digital payments affect payment speed, efficiency, risk protection, and user experience.

Payment-automation specialist Monoova is helping businesses benefit from the instant, always-on and data-rich capabilities of the New Payments Platform (NPP), driving the digital transformation of large, ongoing transaction flows to make managing business payments easy.

Monoova CEO Christian Westerlind Wigstrom explores what happens after payments ‘die’ and move into the background. Like the Uber experience everywhere, all the time. However, progress needs to be made on four fronts in technology if payments are to fade away into the ‘afterlife’.

In October 2019, Monoova – a payments-automation business – made some seemingly damning predictions about its own industry: by 2030, payments as we know it will be dead. Presenting at the Intersekt Fintech Festival in Melbourne, we must have looked strangely excited about our own impending doom.

All types of businesses (e.g. start-ups, financial institutions) benefit from continually examining their existing processes. Businesses need to be vigilant in finding out exactly where efficiency gains can be realised.

Real-time payments are faster, data-rich and more secure. Cyber security is a high priority for all financial industry players.Globally there has been a rapid need for real-time payments:

Real-time payments (RTP) are electronic payment solutions available 24/7, 365. RTP results in immediate or close to immediate interbank clearing of a transaction and crediting of a a payee’s account. Real-time payments are fast, touchless and also facilitate better data and increased certainty of payment.

Real-time payments (RTP) are electronic payment solutions available 24/7, 365. RTP results in immediate or close to immediate interbank clearing of a transaction and crediting of a a payee’s account.Real-time payments are fast, touchless and also facilitate better data and increased certainty of payment.

Since integrating with Monoova, Instarem has experienced some ground-breaking wins: 1) New payment methods: Over 50% of Instarem’s customers have now chosen to pay with Instarem’s new PayID option. Customers can now pay through PayID or BSB.

The New Payments Platform (NPP) supports a 24/7 digital economy. It works by moving money in real-time between bank accounts. The NPP gives users faster payments, simpler payment IDs (PayIDs) and more detailed transfer descriptions.

CEO of Monoova Christian Westerlind Wigstrom talks to Dexter Cousins, host of FinTech Australia Podcast.

The Coronavirus is forcing us to adapt to new ways of going about our every day, at least for a while. Now more than ever, small businesses need to lower overheads, improve cashflow and look after the health of their customers and staff. How can improving your payments process help achieve this?

For many businesses, keeping track of incoming transactions is a full-time job. It takes time to get paid; it takes additional time to find out that those transactions have been received; and it takes an awful lot of time to track down who paid you when lodgement references have been mistyped or forgotten.

The problem of wasting time and money when managing cumbersome payments and reconciliation processes.