Volt extends its real-time payments platform to Australia

Volt, a London-based open payments gateway has expanded into Australia. It is set to integrate with the country’s PayTo platform.

Volt in Australia

In June 2023, the open banking fintech raised $60 million in its Series B funding round at a valuation of over $350 million. Granted, it was unwilling to officially disclose the valuation. At the time, the company was active in the UK, Europe, and Brazil. Notably, it sought to use the funds to expand internationally in addition to availing additional offerings.

Its expansion to Australia is in line with those plans. In a press release on Wednesday (22ndNovember), the company indicated that the move was geared towards meeting the demand for real-time payments across the world.

The firm’s CEO, Tom Greenwood stated, “I am incredibly excited to finally introduce our technology to the Australian market and begin our journey into the APAC (Asia-Pacific) region. Our goal at Volt is to revolutionize the payment sector and create a solution that significantly benefits not only merchants who use our technology but their customers as well.”

The company’s gateway is set to be integrated within PayTo, the Australian digital payment platform. Subsequently, customers will be able to authorize and manage payments directly from their bank accounts.

Megatix will be the first Australian firm to impelement Volt’s real-time payment technology. With that, Megatix’s customers will have the option of “Instant Bank Transfer”. This also means that the company and its vendors will receive payments faster.

Volt now plans to have a physical presence in Australia. Besides, it is eyeing the US market.