The FinTech sector in New Zealand is the fastest growing contributor of the country’s Technology Industry. NZ led the world in the adoption of EFTPOS technology in the 1980’s and the FinTech ecosystem continues to grow, as kiwi companies look to disrupt the status quo. Given NZ’s size and isolation, local Fintechs must deliver solutions that are truly global. Below is an image that illustrates the breadth of New Zealand’s Fintech eco-system.
One such kiwi success story is Centrapay (www.centrapay.com) who are pioneering the future of digital payments. They are leveraging a broad range of modern technologies and automated processes within their own platform and integrating emerging systems such as Blockchain with more traditional retail / banking systems. The future is looking bright for Centrapay, Coca-Cola Amatil’s corporate venturing platform, Amatil X recently invested into the startup and partnerships with Epay and Sylo will result in Centrapay’s platform becoming more mainstream.
To understand more about Centrapay and their culture to “Think big, get S##t done, and have fun!”, I caught up with CEO, Jerome Faury over a beer at a local Auckland bar. Digital payments are in Jerome’s DNA and he co-founded Centrapay to democratise digital assets through API’s that connect merchant systems with consumer apps. There are many use cases, but Jerome’s vision is to allow consumers, brands and businesses to engage and transact directly without the need of a third party taking a disproportionate cut. We joked about the negative connotations of the word “disruption” and agreed that Centrapay is trying to create “efficiencies” in the digital payments space by offering a cheaper alternative for consumers and merchants
Being an owner of an e-commerce website, having alternative payment options that reduce my transaction fees is a no brainer. Transaction fees in New Zealand are significantly higher that overseas and hopefully Centrapay will pave the way for lower transaction fees for kiwi merchants.
If you were wondering about what beer. It was Panhead Super Charger APA – truly outstanding.