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Ezidebit and eWAY launch non-bank e-commerce platform

15 November 2016 5:01PM
Australia's largest non-bank e-commerce merchant and payment platforms, Brisbane-based Ezidebit and Canberra-headquartered eWAY, are set to launch a service enabling retailers to set up and start selling online on the same day. Both are owned by US company Global Payments Inc. They were acquired in 2014 and 2016, respectively.Ezidebit has about 50,000 business customers in Australia and New Zealand, aiming at those with "integrated, recurring and real-time payments" such as gyms, child care centres and recipients of regular donations, such as charities and not-for-profits. eWAY is the largest Australian payment gateway provider, with integrated shopping carts on more than 30,000 sites in Australia and New Zealand. The platform processes A$5 billion annually in online sales, or one dollar of every four spent in Australia (based on NAB's e-retail report, which estimates total annual online sales at $20 billion).Although Global Payments purchased eWAY six months ago, according to Ryan Brough, head of marketing for Australia and New Zealand at Global Payments, the plan to provide a more integrated program was not hatched and executed until two and a half weeks ago. The project involved 100 technical staff, split between eWAY's office in Canberra and Ezidebit in Brisbane, meeting via video links.The system is linked back into the banking system by aggregating the accounts at Ezidebit's 50,000 merchants into a "smaller number of few merchant accounts" at Westpac. In order to make the same-day arrangement work, Ezidebit will put its own balance sheet at risk, ensuring new customers will be paid.

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