Worldpay expanding to Australia

FinTech Innovation editors
FinTech Innovation

Worldpay is expanding in Australia after securing a license to process payments in the country, and will target Australia's booming e-commerce market.

The company’s expansion in Australia comes at a time of sustained growth for Worldpay, which processed 13.1 billion transactions in 2015 with transaction value of £401.9 billion ($518.9 billion).

A number of global companies, including ASOS, Expedia, Cathay Pacific Airlines, Digital World International and Freelancer already use Worldpay for payment processing in Australia, due primarily to the company’s international reach, as well as its ability to process a wide range of alternative payment methods such as eWallets and bank transfers.

Australian e-commerce accounted for an estimated $42 billion of the country’s GDP in 2015, and the country’s consumers lead the world in terms of eWallet adoption, which is favoured by 21% of shoppers buying goods online.

Shane Happach, Managing Director, Global eCommerce at Worldpay concluded: “We are delighted to extend our services into Australia, which is a tremendously exciting market with lots of growth opportunity,” Worldpay managing director for global e-commerce Shane Hapach said.

“We have quickly found merchants trading in Australia are hungry for a payment solution that can help them drive up conversion rates and drive down the costs of running an online business across multiple markets.”

Commentary

5G and data center-friendly network architectures

Matt Walker / MTN Consulting

Webscale and transmission network operators' interests are aligning as the 5G era dawns

Matt Walker / MTN Consulting

Webscale and transmission network operators' interests are aligning as the 5G era dawns

Rémy Pascal / Analysys Mason

The launch of 5G by South Korean operators serves as a first benchmark for other operators around the world