Novatti (ASX:NOV) partners with Afterpay (ASX:APT)

Company News

by Melissa Darmawan

Digital banking and payments company Novatti (ASX:NOV) has been selected by Afterpay (ASX:APT) for the delivery of its payment card program in New Zealand.

As part of the partnership, New Zealand Afterpay users will access payment cards in their digital wallet leveraging Novatti’s license with Visa to enable Afterpay to issue Visa card solutions.

The initial three-year agreement will consist of Novatti receiving project set up, monthly recurring and transaction based fees dependant on the take up of the service.

This follows from the company’s recent announcement earlier this month on their partnership with blockchain disrupter Ripple going live in the Philippines. This company has been building on an existing list of tier one global partnerships with the likes of Google Pay, Samsung Pay, Union Pay, Visa and Alipay under their belt enabling a range of finance technology solutions.

In our exclusive interview with CEO and Managing Director Peter Cook, Peter talks about the focus for the company in the year ahead around partnerships and businesses using their network. Check out the interview here.

The share price has jumped 36.7 per cent during today’s session. The stock price soared over 158 per cent in the past year. The company reported half-year sales revenue of $7.35m, up 49 per cent year-on-year.

Shares in Novatti (ASX:NOV) are trading 32.65 per cent higher at 65 cents.

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