American payments fintech Stripe has launched a new suite of products Australia, challenging incumbents like Square and Zeller by offering small businesses access to Tap to Pay on Android and its own Terminal POS system.
Nearly a decade after it first broke ground in Australia, Stripe on Thursday announced local businesses can now accept payments via their Android smartphone, or with Stripe’s physical Terminal product.
The company, valued this year at US$50 billion (AU$73.4 billion), says the new forays will expand access to Stripe’s all-in-one commerce platform.
Karl Durrance, Stripe’s managing director for Australia and New Zealand, claimed the systems will help businesses cut across the clutter of multiple payments platforms and reporting tools.
“We are excited to help more Australian businesses unlock the power of unified commerce with a single integration, to drive conversion and create cohesive experiences across siloed channels for businesses,” he said.
Stripe is one of several payment platforms to launch its Android system in Australia, in a flurry of activity for the mobile payments space.
Square officially launched its version this week, in a move the company claims will empower retailers to improve their mobility and expand their payment options.
Stripe envisions similar functionality for its new solutions, saying it will reach businesses “that do not traditionally use payments hardware, such as tour guides, stylists, or plumbers.”
NAB, a traditional banking incumbent, launched its Android tap-to-pay solution last year.
Stripe’s decision to offer its unified commerce solution in Australia also pits it against Zeller, the fintech co-founded by former Square executives.
While Zeller is yet to offer Android payment acceptance, the young firm says its offerings, including a new debit card system that doesn’t require users to visit a bank branch, are suited to the needs of today’s small business merchants.
Senior Business Journalist
Focused on the small business sector, David’s work covers the political, regulatory, and economic issues facing Australian entrepreneurs. Prior to joining SmartCompany, he was a reporter for Business Insider Australia. You can follow him on LinkedIn.
