Rob Craig, who chaired AusPayNet for seven years, is joining the club at fintech PayFURL.
Trained at NAB and Westpac and Vero, Craig will be chief strategy officer.
He will work with Luke Littler, the CEO and other founders.
“I love payments, just absolutely love it. I’ve been looking for the right payments opportunity to come along,” Craig said.
PayFURL’s purpose is to work with merchants to engineer smooth, often white-labelled interactions with ‘payments facilitators and payments providers.
‘Orchestration tools’ is the jargon and Aussie fintech Gra4y is said to be one of two direct competitors.
“For each payment type there are many providers of that payments type. The aim is to try to make it simple to choose between the different suppliers.
“We don’t get involved in the communications.
?“If you want to switch the one you want to use, you do it on a dashboard in PayFURL.”??A recent KPMG study found an almost astonishing 150 payment facilitator fintechs in Australia.
The sector thus seems ripe for consolidation, and surely this is what many of the venture capitalists allocating funding to this sector are looking for.
“We’ve been really clear with everybody that funded us, that this is what we’re about,” Craig said.
“This is a strategic play that in one sense is shifting quite quickly. But in another sense it’s shifting slowly.
“We’re about creating an enduring offer in our business.”
PayFURL will be rowing their own boat in a race for relevance and survival.