The strategic expansion comes less than two years after the Melbourne-based startup was acquired by global payments unicorn Checkout.com, which recently reached a $40 billion valuation.

Pin Payments, which supports Aussie brands like PetRescue, Fig & Bloom, Finders Keepers and Obee, will now be able to provide the New Zealand small to medium business market with an online payments service that is quick to onboard.

Chris Dahl, Co-CEO of Pin Payments, said New Zealand was the perfect location for the fintech’s expansion given it’s the natural stepping stone for many Australian businesses looking to grow overseas.

“Banks in New Zealand can be somewhat risk-averse in granting online merchant facilities for micro and small businesses with little operating history,” he said.

“We expect to fill a gap in the market for small businesses needing online payments. Our easy online account setup, low fees and handy payment features are built with a SMB business in mind,” said Chris

The pandemic has accelerated the growth of ecommerce with half of New Zealand now shopping online. Much like Australia, a push by consumers moving online and a desire for greater options for easy to use online payments solutions, is expected to grow demand for new online payments providers.

“Businesses with an NZBN can sign up for an account through the Pin Payments website, and begin accepting payments as soon as the next business day. Features we support include recurring payments and integrations with Xero, Chargebee, WooCommerce and our powerful API for integrating payments into your own applications.” said Chris

“Existing customers revolutioniseSPORT, Obee and HirePOS have already signed up to our New Zealand offering, as they can tap into their existing integration with Pin Payments to expand to New Zealand with minimal cost,” said Chris.

Managing Director of revolutioniseSPORT, Alex Mednis, said the startup’s expansion into New Zealand came at the perfect time and was critical for their customers in that region.

“It was important, as we expanded into New Zealand this year, to have a trusted payment provider as that was critical to our rollout. We are confident that partnered with Pin Payments, our customers will have a seamless payment experience, which is critical to registering for sport. With thousands of clubs within Australia already using Pin Payments for a number of years, we are very confident in our partnership,” said Alex.

New Zealand is a nation of SMB and micro businesses and has a higher percentage of small and micro-businesses than other countries, as reported by the NZ Government.

“With over 530,000 small businesses in New Zealand we’re excited to help this community further embrace the shift to digital brought on by the pandemic so that SMBs can harness technology in order to thrive,” said Chris.