Aussie Online Payments Provider Pin Payments Enters into New Zealand Market

Australia's online payments provider Pin Payments has recently expanded its offering to New Zealand.

The strategic expansion comes less than two years after the Melbourne-based startup was acquired by global payments unicorn Checkout.com, which recently reached a $40 billion valuation. Pin Payments will now be able to provide the New Zealand small to medium business market with an online payments service that is quick to onboard.

Chris Dahl, Co-CEO of Pin Payments, said New Zealand was the perfect location for the fintech's expansion given it's the natural stepping stone for many Australian businesses looking to grow overseas.

"Banks in New Zealand can be somewhat risk-averse in granting online merchant facilities for micro and small businesses with little operating history," Chris said. "We expect to fill a gap in the market for small businesses needing online payments." 

The pandemic has accelerated the growth of ecommerce with half of New Zealand now shopping online. Much like Australia, a push by consumers moving online and a desire for greater options for easy to use online payments solutions, is expected to grow demand for new online payments providers.

New Zealand is a nation of SMB and micro businesses and has a higher percentage of small and micro-businesses than other countries, as reported by the NZ Government.

"With over 530,000 small businesses in New Zealand we're excited to help this community further embrace the shift to digital brought on by the pandemic so that SMBs can harness technology in order to thrive," said Chris.