Kiwibank launches QuickPay mobile business app; opens accelerator

Source: Kiwibank

Kiwibank business customers will now be able to “get paid anywhere, anytime” thanks to the bank’s new mobile payment solution, Kiwibank QuickPay.

Launched this week, Kiwibank QuickPay is a mobile payment app and device combo that will enable businesses to take card payments from their customers quickly and easily.

Available on the App Store and Google Play, Kiwibank QuickPay enables businesses to take “on the spot” Visa, Mastercard and EFTPOS card payments by either tapping, inserting or swiping the customer’s card.

The in-built product catalogue feature allows businesses to create and maintain an online product catalogue, providing easy access to all of their products and services, and calculates the purchase total when taking a payment.

They can generate digital quotes, invoices and receipts and email them direct to their customers.

With transaction history available within the app, they can find a previous invoice for payment, process a refund or resend a receipt to their customer - all within the app.

The best part is that anyone in the business can use Kiwibank QuickPay. Invite them through the app and once they’ve downloaded the app and registered their details, they’re in business.

Nigel Gaudin, General Manager Business Banking and Specialist Markets said about this one-stop-shop mobile payments solution. “Kiwibank QuickPay is what our small business customers need in this rapidly changing environment. We believe that QuickPay gives them all of the features and benefits they need to take payments on the spot and on the go, and provides a seamless payment experience for their customers.”

Kiwibank QuickPay is perfect for the traditional ‘mobile’ business customer who requires a mobile payment solution including: tradespeople, onsite service providers, niche retailers, clubs and societies, and those who are self-employed. QuickPay is also great for existing businesses that have mobile staff, or for businesses that have occasional payment requirements, such as charities or seasonal businesses.

Mark Wilkshire, Group Manager Marketing said, “ the product aligns with our digital strategy, is competitive in its offering and is a win for our Business customers .”

Separately, Kiwibank will launch another set of FinTech startups onto the global stage with its second FinTech accelerator.

The inaugural FinTech accelerator resulted in several Kiwi FinTech start-ups gaining vital sup-port, funding and expertise to build, launch and expand their products in New Zealand and world markets.

Kiwibank chief executive Paul Brock said the success of the first accelerator had encouraged Kiwibank and accelerator partners Callaghan Innovation and Creative HQ to launch version two of the innovative programme.

“The first accelerator saw exciting new Kiwi companies such as Sharesies, Accounting Pod and Tapi successfully launched to market.

“With the second accelerator we’re looking to help even more startups capitalise on what is a $1 trillion global FinTech opportunity, and to further grow New Zealand’s FinTech ecosystem.”

The inaugural Kiwibank FinTech Accelerator resulted in:

Sharesies achieving $1 million in investments and 5000 users in just eight weeks; full funding gained four weeks before the programme’s investment showcase “Demo Day"
Accounting Pod and Tapi (formerly Flatfish) achieving full funding and on track to crack $1 million annual revenue targets

Mr Brock said V2 of the accelerator would take on an even stronger global focus.

“This time we want to have a strong international flavour and we’re targeting exciting overseas ventures interested in basing their FinTech operations here in New Zealand.

“There’s strong interest from startups in China, Korea and elsewhere to take part. It’s a win-win, given that New Zealand is perfectly placed to take a lead in FinTech globally by attracting the best and brightest overseas talent and capability to help us take our own FinTech ecosystem to the next level.”

About a quarter of the 12 startups to be selected for the accelerator could come from overseas, Mr Brock said.

“Quite apart from the ability for Kiwi startups to experience the thinking and technology being applied in FinTech overseas, the global networking potential alone will be invaluable.”

Investment in Chinese FinTech was NZ$9.2bn in 2016* and it is home to the four most valuable FinTech companies in the world (Alibaba’s Ant Financial, Lufax, JD Finance and Qufenqi)**

There are more than 400 FinTech startups in South Korea with more than NZ$120m invested in FinTechs in 2016.

Globally NZ$26.3bn was invested in FinTech companies in 2016.***

Sharesies founder Sonya Williams said:“We got a huge amount out of being in the accelerator - mentorship, a space to work, great corporate support.”

“But by far and away the biggest benefit was that the accelerator gave us the start date and support we needed take Sharesies from an idea and turn it into a successful business. The com-pany is never going to get off the ground until this leap of faith is taken and we got that from the Kiwibank Fintech Accelerator”

The Kiwibank FinTech Accelerator will open for applications on October 2 and the 14 week pro-gramme will begin in February 2018 and finish with a Demo Day in May 2018.

Creative HQ CEO Stefan Korn said: “Being able to run another FinTech accelerator with Kiwibank and Callaghan Innovation is an excellent step in the right direction to put Kiwi FinTech on the map globally and to establish Wellington as New Zealand’s hub for innovation in the finance sector.”

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