Global Fintech disruptor, Till Payments (Till) has secured its acquiring license in New Zealand, making it just one of five non-bank merchant acquirers in the country.
Its launch into the market is supported by the appointment of Neville (Nev) Cowley as Regional Director - New Zealand, who joins Till at the start of November.
Till’s presence in New Zealand will enable merchants operating in the country to tap into the fintech’s simple, seamless, all-in-one payments capabilities while offering businesses a high-tech alternative to the major banks.
The announcement follows the fintech’s recent NZD$116 million Series C funding round, raised to bolster its international expansion efforts and accelerate tech innovation development.
Regional Director - New Zealand, Nev Cowley, brings over 25 years of local experience in the banking and financial services sector and has specialised in merchant payments over the last 17 years. He joins Till after an 8+ year tenure at ANZ Bank in New Zealand, most recently as Senior Product Manager / Head of Customer Solutions for its Merchant Business arm.
Based in Wellington, Nev will lead the business’ New Zealand market presence.
“I’m incredibly excited to be joining Till Payments as its New Zealand Regional Director. Till’s combination of world-class single source payment solutions, growing global footprint, and true customer-centric approach is changing the merchant payments landscape. Having the chance to shape this for New Zealand’s merchants is a fantastic opportunity.” Nev Cowley said.
New Zealand’s payments landscape is currently undergoing a transition period as merchants await the passing of new regulation on the national Retail Payments System, which hopes to address the disproportionately high interchange fees imposed onto businesses operating within the country.
Shadi Haddad, CEO at Till Payments, says its presence in New Zealand aims to support merchants through this evolution.
“There’s a massive opportunity for emerging businesses to grow and scale in New Zealand, where SMEs account for 97% of all businesses across the country. However, a vast majority are disadvantaged by the unfairly high fees imposed on merchants operating within the country,”
“I have the utmost confidence that Nev’s passion, knowledge and immense experience will not only enrich our growth and market impact in New Zealand but will make a massive difference to our merchants in the region.” said Mr. Haddad.
Businesses with trans-Tasman operations can take advantage of the fintech’s market entry to simplify and integrate their payments solutions across the ANZ region. Till has existing trans-Tasman customers that have engaged the disruptor as a single-source payments processing partner for its New Zealand market presence.
Additionally, Till’s New Zealand customers can leverage the company’s global capabilities to fuel international commerce in markets, including the UK, Europe and soon, North America and Asia.