Volt Expands Real-Time Payments Platform Into Australia

Global real-time payments platform Volt has expanded into Australia.

Already established in the United Kingdom, Europe and Brazil, Volt is taking another step in its plan to meet the demand for real-time payments across the globe, the company said in a Wednesday (Nov. 22) press release.

“I am incredibly excited to finally introduce our technology to the Australian market and begin our journey into the APAC [Asia-Pacific] region,” Volt Founder and CEO Tom Greenwood said in the release. “Our goal at Volt is to revolutionize the payments sector and create a solution that significantly benefits not only merchants who use our technology but their customers as well.”

Volt’s gateway will be integrated with Australian digital payment platform PayTo, enabling consumers to authorize and control payments directly from their bank account, according to the release.

This new offering will help merchants meet the growing demand for real-time payments in Australia, the release said.

The first Australian company to implement Volt’s real-time payment technology is Megatix, whose self-service ticketing platform is well established in the market, per the release.

With the availability of real-time payments, Megatix customers will be able to select “Instant Bank Transfer” as a secure, fast and seamless payment option, according to the press release. In addition, Megatix and its vendors will receive payments more quickly.

“Thanks to open banking and Volt’s technology, we’re able to improve the payments process immeasurably for our customers, such as eliminating costly chargebacks associated with payments which have been a historic pain point for our vendors,” Megatix CEO Roshan Odhavji said in the release.

Volt plans to soon establish a physical presence in Australia, make a number of hires and grow in the market, according to the release.

This expansion comes about five months after the global real-time payments platform raised $60 million in a Series B round and said it aims to expand into APAC and the Americas as well as support product development in its existing markets.

Volt said at the time that it would enter the Australian market this year and that it “has its sights set” on the United States market.