Tech

Novatti takes Malaysia to the era of digital payments with the acquisition of ATX

A fintech company that has flagged Southeast Asia as a target for global expansion Novatti Group (ASX: November) With the attractive acquisition of, we plan to strengthen our payment services in the region. ATX Malaysia’s digital payment network has plans to grow further.

Founded in 2011, ATX has been recognized as one of the top 50 Southeast Asian start-ups offering a variety of B2B and B2C payment services. The network includes over 31,000 touchpoints that allow residents to pay invoices, buy cards, recharge cards, and send money.

This is based on service Novatti Already established in Australia, the United States, Europe, and elsewhere in Asia.

“The acquisition of ATX not only provides Novatti with a strong business in Malaysia, but also provides a platform to continue its expansion in Southeast Asia, where digital payments are expected to grow,” said Peter Cook’s Novat. The Managing Director said.

“This growing demand has already supported many of Novatti’s other recent activities in the region, including expanding its partnership with Ripple to Thailand after its launch in the Philippines earlier this year.”

The Malaysian market offers fintech operators a favorable opportunity, favored by 32 million residents. Of these, global research firm Bain & Company estimates that 55% of the adult population still does not have a bank account and does not have one.

At the core of Novatti’s expansion strategy in Southeast Asia was to drive the transition from the traditional cash economy to digital payments. This is a social trend accelerated by a pandemic.

Novatti has indicated its intention to roll out a new digital payment service that leverages its existing technology stack as part of its acquisition of ATX.

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sauce: Novatti takes Malaysia into the era of digital payments with the acquisition of ATX – The Sentiment



Novatti takes Malaysia to the era of digital payments with the acquisition of ATX

Source link Novatti takes Malaysia to the era of digital payments with the acquisition of ATX

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