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Reimagining real-time payments & reconciliations with Cuscal

Payment-automation specialist Monoova is helping businesses benefit from the instant, always-on and data-rich capabilities of the New Payments Platform (NPP), driving the digital transformation of large, ongoing transaction flows to make managing business payments easy.

What is PayTo & How Does It Work?

What is PayTo? PayTo transactions are the next big thing in the Australian payments landscape. It will enable a new way to pre-authorise payments from consumer or business bank accounts.

4 ways to prevent pet scams

During the pandemic, many Australians have sought to adopt a puppy or kitten. Pets are a great addition to the family and also bring a sunshine of positivity in these uncertain times.

Online Identity Fraud and Romance Scams

Australians reported almost 4,000 dating and romance scams in 2019 with losses of more than $28.6 million (ACCC, 2020).

Saving time and resources on manual approvals.

From their earliest beginnings until now, Eastern & Allied has worked strategically with innovative fintech companies like Monoova to bring new and emerging technologies with the aim of serving their customers better. We recently sat down with Eastern & Allied to find out how Monoova helped streamline their business.

The payments revolution: How we will pay in the afterlife

Monoova CEO Christian Westerlind Wigstrom explores what happens after payments ‘die’ and move into the background. Like the Uber experience everywhere, all the time. However, progress needs to be made on four fronts in technology if payments are to fade away into the ‘afterlife’.

Death of Payments: the sequel

In October 2019, Monoova – a payments-automation business – made some seemingly damning predictions about its own industry: by 2030, payments as we know it will be dead. Presenting at the Intersekt Fintech Festival in Melbourne, we must have looked strangely excited about our own impending doom.

Monoova is 3x finalist in the Finnies Awards 2021!

On Friday 30th of April, FinTech Australia announced the finalists in the Finnies Awards 2021. The Finnies are ‘recognising and rewarding the Australian FinTech community by honouring innovation, growth and collaboration’.

Webhooks, APIs and other speedy reporting methods

Manual reporting slows all business processes. It’s prone to errors, unaccounted costs, security risks and can be painfully time-consuming.

Receive and pay funds with BPAY. One API is all you need

BPAY is an easy and secure way to send bills, receive payments and pay your suppliers.BPAY manages all your bills with one payment method all through your online banking. You can choose when, how much and from which account to bill payments - whatever works for you

Payments solutions enhance business processes

All types of businesses (e.g. start-ups, financial institutions) benefit from continually examining their existing processes. Businesses need to be vigilant in finding out exactly where efficiency gains can be realised.

Market-leading payments processing and the Nudge Saver app

Since partnering with Monoova, Nudge has experienced some ground-breaking wins:1) Faster payments processing timesThrough Monoova’s ‘Automated Payment Service’ (APS), Nudge has automated several back-end functions and reporting requirements.

MPS (Mandated Payments Service); the next step for real-time payments

The Mandated Payments Service is third-party payment initiation on the NPP. Customers can authorise third parties to initiate real-time payments from their bank accounts via the NPP.MPS is to be combined with consistent customer authorisation and third party payment initiation via the NPP.

Automated payments create ground-breaking wins

Payments processing shouldn’t hold you backProcessing payments manually affects business efficiency. Manual payments are time consuming, prone to errors and don’t include real time payment options.

2021 Outlook by Christian Westerlind Wigstrom, CEO Monoova

It’s difficult to be original. I, too, write lists at the beginning of years with plans, expectations, and aspirations. I, too, was wrong about 2020 as the year of travel and international expansion and so many other things. But there was one thing on my list that I wasn’t wrong about: ‘there is huge opportunity in payments’.

Real-time payments create new opportunities

Real-time payments are faster, data-rich and more secure. Cyber security is a high priority for all financial industry players.Globally there has been a rapid need for real-time payments:

Data-rich and more secure; real-time payments are not just speedy.

Real-time payments (RTP) are electronic payment solutions available 24/7, 365. RTP results in immediate or close to immediate interbank clearing of a transaction and crediting of a a payee’s account.Real-time payments are fast, touchless and also facilitate better data and increased certainty of payment.

Data-rich and more secure; real-time payments are not just speedy

Real-time payments (RTP) are electronic payment solutions available 24/7, 365. RTP results in immediate or close to immediate interbank clearing of a transaction and crediting of a a payee’s account. Real-time payments are fast, touchless and also facilitate better data and increased certainty of payment.

Real-time payments help businesses anywhere, anytime

Real-time payments enable businesses and financial institutions to process payments seamlessly. It’s ‘always-on’, meaning businesses can make instant payments anywhere and anytime, including weekends and public holidays.

Faster payments and unparalleled efficiencies

Since integrating with Monoova, Instarem has experienced some ground-breaking wins: 1) New payment methods: Over 50% of Instarem’s customers have now chosen to pay with Instarem’s new PayID option. Customers can now pay through PayID or BSB.

3 ways real-time payments improve business efficiency

The New Payments Platform (NPP) supports a 24/7 digital economy. It works by moving money in real-time between bank accounts. The NPP gives users faster payments, simpler payment IDs (PayIDs) and more detailed transfer descriptions.

Monoova wins Best Fintech Payments Provider at Australian FinTech Awards

Leading end-to-end payments provider, Monoova has been awarded Best Fintech Payments Provider at the fifth annual Australian FinTech Awards.

Finnies finalist!

We are thrilled to be announced as 2020 Finnies finalists!

FinTech Australia Podcast

CEO of Monoova Christian Westerlind Wigstrom talks to Dexter Cousins, host of FinTech Australia Podcast.

How the choice of payments system can help you through the crisis

The Coronavirus is forcing us to adapt to new ways of going about our every day, at least for a while. Now more than ever, small businesses need to lower overheads, improve cashflow and look after the health of their customers and staff. How can improving your payments process help achieve this?

Get paid in real time with real time reporting and automatic reconciliation

For many businesses, keeping track of incoming transactions is a full-time job. It takes time to get paid; it takes additional time to find out that those transactions have been received; and it takes an awful lot of time to track down who paid you when lodgement references have been mistyped or forgotten.

Get to know Monoova

The problem of wasting time and money when managing cumbersome payments and reconciliation processes.

Talking Business with Alan Kohler

Head of Monoova, Christian Westerlind Wigstrom talks to Alan Kohler on the Qantas Podcast.

Monoova forms partnership with payments solution provider Splitit

End-to-end payments provider Monoova has signed a deal to automate transactions on behalf of global instalment payments business Splitit.

Monoova becomes the latest non-bank to connect to the New Payments Platform (NPP)

End-to-end payments provider Monoova, and Australia’s leading independent provider of payment services for banks and payment platforms Cuscal, today announced the rollout of NPP payment capabilities to Monoova’s Automated Payment Service.

4 ways Monoova AutoMatcher improves payments for equity trading platforms

Introducing Monoova AutoMatcher. Monoova is making orphan transactions impossible. How? Say hello to AutoMatcher.

2030: the year payments died

Monoova presenting at Intersekt Festival

Making Augmented Reality a Reality

Moonova is delighted to be providing the payments infrastructure for Zukaz.

New features on our latest release

In these unprecedented times, we understand that there can be so many uncertainties. There’s one thing that we are certain about; the Monoova team is still working, providing you with new releases and new features. These are the new features we have released in March:

PayTo - Commonly Asked Questions

What is PayTo & How will it be used? PayTo is a new, digital way for merchants and businesses to initiate real-time payments from their customers’ bank accounts. Merchants can offer PayTo as an alternative payment method for a variety of products and services, such as subscriptions, online or in-app purchases. Businesses can use PayTo to authorise third parties to manage payments on their behalf, such as payroll and accounts payable.

Featured
Saving time and resources on manual approvals.
4 ways to prevent pet scams
Online Identity Fraud and Romance Scams
Automated payments create ground-breaking wins
Get paid in real time with real time reporting and automatic reconciliation
We can help you scale your business

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This information does not take into account your personal objectives, circumstances or needs. Consider its appropriateness to these factors before acting on it.Read the disclosure documents for your selected product or service before deciding whether to purchase them. Moneytech Payments Pty Limited (ACN 126 015 227 / authorised representative no. 000428863)  trading as Monoova is an authorised representative of Moneytech Limited ACN 106 249 852 / AFSL 421414