Digital banking and payments company Novatti Group (ASX: NOV) has announced its cross-border payments platform, ChinaPayments, has been added to the home page of an app run by China-based third-party mobile and online payment platform AliPay.
Novatti launched ChinaPayments in 2018 as a first-to-market platform enabling Chinese residents to pay Australian bills online using Chinese currency.
Eligible bills include education fees, utilities, rent, council rates and phone charges.
Over the last 12 months, more than 500 BPAY billers have received payments through the platform.
Novatti receives a fee per transaction, with the amount of revenue dependent on take-up.
Managing director Peter Cook said adding ChinaPayments to AliPay’s homepage would enable Alipay users to enjoy the convenience of making paying bills within the app.
“We have enjoyed a constructive partnership with Alipay and our close co-operation has led to the integration of ChinaPayments into Alipay’s platform, validating our strategy of working with tier one providers,” he said.
“It provides an innovative solution to help Chinese residents pay their bills and gives many Australian billing companies the oppportunity to improve their cashflow through on-time payment.”
Earlier this month, Novatti confirmed that its April acquisition of business process integration platform Emersion had been completed and was “beating expectations” despite the challenges of COVID-19.
Novatti said Emersion had continued to perform strongly, with combined results for April and May including an invoicing total of $300,000 (with approximately 80% classed as recurring revenue); and the signing of six new customers with contracted service values of more than $250,000 over the next three years.
Emersion integrates diverse business applications such as subscription billing, payments and provisioning, into existing platforms such as customer relationship management software.
It currently integrates with more than 70 platforms including Salesforce, Xero and ConnectWise, and there are post-COVID-19 plans for enhanced customer engagement, integration, automation and payment services as well as international expansion.
“We knew that Emersion was a strong business which would provide great synergies for our digital-focused strategy,” Mr Cook said.
“The strength of its platform has been on display during the pandemic and will provide a sound base for continued growth, as we expect more people to work from home and to use the communication and entertainment services of Emersion’s partners going forward.”