Press Releases Archives

Monoova becomes the latest non-bank to connect to the NPP

Posted on October 2, 2019October 26, 2023 by Marketing Team

Sydney, 2 October 2019: 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.

As the latest member of the very small group of non-bank Identified Institution to be enabled on the NPP, Monoova will now be able to add real-time account payables and receivables functionality to its enterprise-level payments solution.

Commenting on the roll-out, Head of Monoova, Christian Westerlind Wigstrom, said that by fully automating how funds are received and managed, business can focus more time on what they are there to do: servicing their customers.

The NPP holds the key to great customer experiences by making payments happen successfully and invisibly. No longer will businesses have to mobilise armies of bookkeepers and wads of spreadsheets to track incoming and outgoing payments. Most importantly, there is no need for businesses to hold off growth because they can’t manage the flow of funds.

We are very pleased to be working with Cuscal to help deliver ‘invisible payments’ to our clients, and our clients’ customers, and feel we have a strong alignment of values when it comes to doing the right thing by customers.

Nathan Churchward, Head of Product at Cuscal commented,

As an NPP Participant we’re focused on enabling organisations as Identified Institutions and providing wholesale access to the NPP through our REST APIs.

As an Identified Institution, Monoova is extending the benefits of receiving and managing real-time payments to other businesses through a single API integration with their Automated Payment Service. This is proof that the open access design of the NPP is working to facilitate fair access to the platform, driving competition and innovation.

Through Monoova, a single API integration provides scaling businesses with the ability to exchange payment information and instructions, issuing unique account identifiers and PayIDs to fully automate how funds are received and managed in real-time. Additional real-time payments functionality, including payment initiation, will be progressively introduced.

The move will make reconciliation, exception handling and reporting for NPP payments available in a single integration, alongside other payment channels such as Direct Entry and BPAY.

A number of Monoova’s business clients have commenced end-to-end testing of real-time payment capabilities within Monoova’s development sandbox, with access to the live environment expected to be progressively granted over the next month.

At Monoova, we’re all about freeing businesses to scale. We continue to enhance and grow our offering to make it easy, seamless and stress-free for businesses to pay and be paid,

Mr. Westerlind Wigstrom said.

About Monoova
Monoova supports scaling businesses with large, and often complex, ongoing transaction flows to fully automate how they receive, manage and pay their funds through one simple API integration. Its proprietary platform allows businesses to access a variety of payments functions, comprehensive reconciliation and reporting options and entirely customised real-time data.

Monoova (formerly known as Moneytech Payments) was founded in 2017 and is a fully owned subsidiary of Moneytech Group. Since inception, Monoova has processed over 1 billion dollars through its proprietary payments software.

www.monoova.com www.linkedin.com/company/monoova

Media contact details

Monoova media contacts: Susie Bell 0420 49 852 , susie@honner.com.au, Kirsty Timsans 0403 782 752 kirsty@honner.com.au

Cuscal media contact: Emma Hawke, EHawke@cuscal.com.au

Armaguard finalises Cuscal rediATM Scheme acquisition

Posted on August 14, 2019October 27, 2023 by Rachael Shupe

Melbourne, 14 August 2019 – The Armaguard Group announced today the purchase completion of Cuscal’s physical ATM assets and has now taken over the management and operation of the rediATM Scheme together with all customer-owned servicing contracts.

This purchase allows Armaguard to facilitate the continued provision of cash across the community.

Gary Allen, CEO, Armaguard Group, is pleased to confirm the sale: “Our investment in this well-established network is part of our strategy to support ongoing essential services of cash distribution to the community.”

“This acquisition is a natural extension of our current cash supply chain business. Our core business is currency management, which includes supporting financial institutions with the circulation of cash into the community. We aim to ensure that everyone has access to their cash where and when they need it, and part of this is through the provision of ATMs in communities across Australia.”

Commenting on the completion of the sale, Craig Kennedy, MD, Cuscal stated: “The sale provides continuity and sustainability of ATM Services for our clients and their customers, while allowing us to focus on our core strategic areas of mobile, real-time and data. We are proud of what we have achieved in the last 10 years with the rediATM Scheme and look forward to supporting Armaguard’s future plans with our driving, switching and settlement services.”

Gary Allen sums up: “We are working closely with Cuscal and will continue to enjoy a long and positive relationship together. We now have everything in place to ensure a seamless business transition for rediATM Scheme members and their customers.”

Media Contacts
Media contact details Armaguard Group: Cathy Canham, cathy_canham@linfox.com
Media contact details Cuscal: Simone Shields, sshields@cuscal.com.au

Armaguard Group acquires Cuscal rediATM Scheme

Posted on February 26, 2019October 27, 2023 by Uberbrand

Sydney, 26 February 2019: Armaguard Group announced today the signing of an agreement to purchase Cuscal’s physical ATM assets and to take over the management and operation of the rediATM Scheme.

The rediATM network provides direct charge fee-free transactions for the cardholders of rediATM Scheme members, with an extensive network of ATMs across hundreds of unique locations, including regional centres Australia-wide.

The purchase aligns the core competencies and future plans of both the Armaguard Group and Cuscal.

The Armaguard Group has decades of expertise in ATMs, and currently provides services to the majority of existing ATMs in Australia. This purchase allows Armaguard to provide additional end-to-end currency and technology management solutions, and facilitates the continued provision of cash across the community. Cuscal is a payments business and its future strategy is centred on mobile, real-time and data initiatives. This sale allows Cuscal to focus on its future plans while ensuring its clients and customers continue to receive convenient, secure, 24/7 access to their money.

Gary Allen, CEO, Armaguard Group, is delighted about the purchase:

Our core business is currency management, which includes supporting financial institutions with the circulation of cash into the community. We aim to ensure that everyone has access to their cash when they need it, and part of this is the provision of ATMs, an essential service to communities across Australia.

We look forward to investing in this well-established network to support ongoing services to the community.

Commenting on the sale, Craig Kennedy, MD, Cuscal said:

We are proud of our history in ATMs. We worked with one of our clients to offer the first ever modern ATM back in 1977, and the rediATM Scheme has given millions of people secure, easy, direct-charge free access to their cash for nearly 10 years.

However the ATM industry has evolved, and our business has changed. We strongly believe that this sale is the best way for our clients and their customers to continue to get secure, convenient access to their cash. We will continue to drive, switch and settle for ATMs, while spending more time on our core strategic areas of mobile, real-time and data – enabling our clients’ customers to make payments wherever they are, with whatever device they choose.

Gary Allen sums up:

While the deal is subject to regulatory and other approvals, we expect it to be completed in the coming months. This acquisition is the natural extension of our current technology driven business, and we look forward to a seamless transition for rediATM Scheme members and their customers.

—ends—

Media contact details: Eva Donaldson, 0429 449 963, eva_donaldson@linfox.com

Media contact details: Jake Waddell, 0417 312 902, jwaddell@cuscal.com.au

NPP launches with 60+ finance brands, 40 via Cuscal

Posted on February 13, 2018October 27, 2023 by Uberbrand

The New Payments Platform (NPP) was made publicly available today with customers of more than 60 banks, credit unions and building societies now able to receive real-time payments. 40 of these are connecting via Cuscal, greater than 50% of the total, and we will be connecting more later this year.

Financial institutions will roll out NPP services in their own time. Most of our clients have full functionality now (including registering a PayID and making and receiving payments via Osko) others will roll things out more slowly, in the coming days, weeks and months. New Payments Platform Australia (NPPA) estimates that 4 out of 5 Australian bank accounts will be able to accept NPP payments within a few weeks of launch. All participating financial institutions are listed on the NPPA website.

Commenting on the launch of the NPP, Cuscal MD Craig Kennedy, said:
“Today really is a landmark day for banking and payments in Australia; the launch of a totally new infrastructure for payments happens very rarely. We’re delighted that we’ve been able to play a key role in the build and launch of the New Payments Platform and that so many of our clients can share this great day with us.

Australians have been rightly annoyed that it took so long for money to move between accounts at different institutions. Now, for customers at forward-thinking financial institutions that’s a thing of the past. It just goes to show that no matter how large or small your financial institution is, it can give you the latest and greatest payment innovations just as quickly as the biggest banks in Australia.”

The NPP is a brand new infrastructure for payments which has been collaboratively developed by 13 financial institutions, including Cuscal, to make payments faster, simpler and smarter for all Australians. These financial institutions mutually own New Payments Platform Australia Ltd (NPPA) which is responsible for building and operating the NPP. Cuscal MD Craig Kennedy sits on the board of NPPA.

The finance brands now connected to the NPP via Cuscal are:

Media contact
Jake Waddell jwaddell@cuscal.com.au 0417 312 902

Apple Pay coming to eftpos for Cuscal sponsored FIs

Posted on February 6, 2018October 27, 2023 by Uberbrand

Sydney, 6 February 2018: eftpos, Australia’s own debit payments network, today announced eftpos-only cardholders from six Cuscal sponsored financial institutions can now use Apple Pay, which is transforming mobile payments with an easy, secure and private way to pay that’s fast and convenient.

eftpos Acting CEO, Mr Paul Jennings, said that leading independent payments company Cuscal has worked with eftpos to enable six financial institutions to launch eftpos for Apple Pay today, offering their eftpos cardholders the choice of using Apple Pay with eftpos.

The Cuscal sponsored financial institutions include CUA, FCCS, Nexus Mutual, People’s Choice Credit Union, SCU More Generous Banking, and Woolworths Employees’ Credit Union.

Mr Jennings said Apple Pay with eftpos will provide eligible eftpos cardholders with the ability to make eftpos purchases on their iPhone or Apple Watch using their own money, processed in real time.

Security and privacy is at the core of Apple Pay. When you use an eftpos card from participating financial institutions with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorised with a one-time unique dynamic security code.

“Today marks another significant milestone for eftpos as we enable more consumers with an iPhone or Apple Watch to choose eftpos to make a transaction from their CHQ or SAV account,” Mr Jennings said. “As Australia’s most used debit card network, we are thrilled to provide consumers from these participating financial institutions with more payment choice, with added benefits of enhanced security and convenience.”

In stores, Apple Pay works with iPhone SE, iPhone 6 and later, and Apple Watch. To set up Apple Pay, cardholders from participating banks and credit unions simply need to open the Apple Wallet app in iOS 11 and follow the prompts.

Cuscal’s General Manager Product and Service, Robert Bell said: “Tens of thousands of eftpos cardholders can now pay with their iPhones, providing greater choice for our clients’ customers. We provide leading digital payment solutions to our clients, helping them to compete on a more level playing field with the big banks.”

For more information on Apple Pay, visit: http://www.apple.com/au/apple-pay/

This press release was originally published by eftpos.

About eftpos
eftpos is the most widely used debit card system in Australia, accounting about 2 billion CHQ and SAV transactions in 2017 worth more than $130 billion. For more information on eftpos, please visit: www.eftposaustralia.com.au

About Cuscal
Cuscal is Australia’s leading independent provider of payment solutions including card and acquiring products, mobile payments, NPP, fraud prevention, EFT switching and direct entry. We process 14% of Australia’s EFT transactions, have over 7.5 million cards under management and switch and acquire for around 35% of Australia’s ATMs. W: www.cuscal.com/ L: www.linkedin.com/company/cuscal

Media inquiries:

Warwick Ponder, eftpos
0408 410 593
WPonder@eftposaustralia.com.au

Jo Savill, Cuscal
0447555018
jsavill@cuscal.com.au

Teachers Mutual Bank rolls out Cuscal mobile app

Posted on November 7, 2017October 27, 2023 by Uberbrand

Sydney, 7 November 2017 – Over 100,000 Teachers Mutual Bank members will be upgrading to a brand new digital platform, provided by Cuscal.

With a focus on member needs, the new Teachers Mutual Bank app will ensure members have convenient and easy access to a host of service features including the capacity to: block/report a lost/stolen card and change card PINs and access to increased security features.

“The new Teachers Mutual Bank mobile app empowers our members, giving them access to a wide range of features now; and provides us with the infrastructure to create innovation in the future,” stated Teachers Mutual Bank Limited’s Chief Sales and Marketing Officer (Acting), Gerard Smith.

“We have already been recognised as a leader in the financial services industry for customer service^. This new app builds on that reputation, giving our members access to banking functions more commonly associated with branch service, than self-service,” said Gerard Smith.

Cuscal worked with Teachers Mutual Bank, including several rounds of customer testing, to ensure that the app met the needs of the bank’s members.

”Cuscal helps financial institutions like Teachers Mutual Bank to compete with larger banks by providing great technology, which their customers really value,” said Cuscal’s Senior Manager Acquiring & Digital Solutions, Valentina Dunoski.

“With the launch of Teachers Mutual Bank’s app, there are now 22 brands using Cuscal’s white-label banking app – a number that has doubled in the past year and continues to grow. We also offer a growing suite of APIs, which financial institutions can plug into, as well as our other products like the New Payments Platform (NPP),” said Valentina Dunoski.

The rollout of the new Teachers Mutual Bank mobile application futureproofs the bank’s digital offering and will provide a platform for further innovation.

“The new app is a great platform, but over the next few years we want to go further. The next stages of our digital initiatives will give us a critical edge in a highly competitive banking market,” stated Gerard Smith.

Teachers Mutual Bank’s new mobile app can be downloaded for Apple devices from the App Store, and for Android devices from the Google Play store.

Media Contact
Jo Savill jsavill@cuscal.com.au 0447555018

_{*‘World’s Most Ethical Companies’ Award, from Ethisphere Institute. (Awarded, 2016, 2015, 2014)}
_{^ Teachers Mutual Bank led Australia’s Top 15 consumer banks on customer satisfaction rates for Jan-Jun 2017, see Roy Morgan Research}

Cuscal connecting over 50% of FIs to NPP

Posted on October 26, 2017October 27, 2023 by Uberbrand

Sydney, 26 October, 2017 – Today, the New Payments Platform (NPP) took an important step closer to an early 2018 launch as we passed a major checkpoint on the road to going live.

Each of the 13 shareholders of the NPP Australia Ltd has revealed which banks, credit unions and building societies they would be bringing live on Day 1. 29 financial institutions covering 39 retail banking brands will be connecting to the NPP from Day 1 via Cuscal – more than 50% of the total number.

Robert Bell (General Manager, Products and Service), said:

“Today is a significant milestone for Cuscal and our clients. Building the NPP infrastructure and then connecting to it has been a large and complex undertaking for everyone involved, no matter how big they are, so to pass these milestones is cause for celebration. We are very proud to be connecting such a large percentage of all financial institutions. It’s a real credit to the fantastic work of our Cuscal NPP Team and their counterparts at our clients and their core banking system providers.

“It demonstrates that large, medium and small financial institutions can all have access to the latest and greatest payment technology. Some of our clients connecting to the NPP have millions of customers and others have thousands, but all of them will be able to make and receive payments in real-time from the first day the NPP is publicly available.”

The list of financial institution brands connecting to the NPP via Cuscal at launch includes:

Bank Australia, Beyond Bank Australia, Big Sky Building Society, Australian Unity, Central Murray Credit Union, Catalyst Money, Illawarra Credit Union, Community First Credit Union, Easy Street Financial Services, Northern Beaches Credit Union, CUA, Credit Union SA, Defence Bank, First Option Credit Union, Ford Co-operative Credit Society, Goulburn Murray Credit Union, MyState, The Rock, Nexus Mutual, Orange Credit Union, P&N Bank, People’s Choice Credit Union, Police Bank, Police Credit Union, RACQ Bank, Comtax Credit Union, Security Credit Union, SCU, Select Encompass Credit Union, South West Credit, Firefighters Mutual Bank, Teachers Mutual Bank, UniBank, The Mac, Bankstown City Unity Bank, Reliance Bank, Unity Bank, Warwick Credit Union, WAW Credit Union.

Media contact
Jake Waddell jwaddell@cuscal.com.au 0417 312 902

Suncorp joins rediATM network

Posted on June 28, 2017October 26, 2023 by Rachael Shupe

Sydney, 28 June 2017: Suncorp and Cuscal have today signed a partnership agreement for Suncorp to join the rediATM network from 1 August 2017. The rediATM network is made up of more than 90 financial institutions, of all sizes, including NAB, BOQ, CUA, People’s Choice Credit Union, and now Suncorp.

This will mean that more than 11 million cardholders will now have direct-charge-free access to the rediATM network, up from ~10million. The ATM network will also grow from over 3,000 ATMs to around 3,300 ATMs Australia-wide. There are rediATMs in more locations around Australia than any other banking ATM network.

Commenting on the news, Cuscal MD Craig Kennedy said:

“We’re very pleased to welcome Suncorp to the rediATM network. It will make the network stronger and is great news for our 90 plus financial institution members as well as their 11 million cardholders who have fee-free access to the rediATM network.

We’ve been providing safe, convenient, reliable ATM services for more than 30 years and with our recent investment in refreshing our entire rediATM network we’re looking forward to doing so for many years to come.”

Suncorp CEO Customer Platforms, Gary Dransfield, said from 1 August, 2017, Cuscal Limited will become the exclusive provider of Suncorp’s ATMs.

“Suncorp customers will soon have fee-free access to more ATMs, in more locations than ever before, following the announcement of this new partnership,” Mr Dransfield said.

“This partnership meets all of our requirements as a business, and is a great result for customers who will benefit from increased ATM access and functionality enhancements across the rediATM network.”

Cuscal media contact
Jo Savill jsavill@cuscal.com.au 0447 555 018

Suncorp media contact
Alexandra Foley 0419 794 294

Cuscal partners with Samsung Pay

Posted on June 14, 2017October 27, 2023 by Russell Britton

Sydney, 15 June, 2017 – Samsung Electronics Australia today announced a partnership with Cuscal, Australia’s leading independent provider of payment solutions that will enable 38 financial institutions to offer Samsung Pay.

Samsung Pay is a secure and easy-to-use mobile payments service available on compatible Samsung devices including the Gear S3 smartwatch and the Galaxy S8 and S8+ smartphones^₁.

People’s Choice Credit Union, Credit Union Australia (CUA), and Teachers Mutual Bank are among some of Cuscal’s clients now offering Samsung Pay and the partnership will enable mobile payments for a combined total of 1.7 million cardholders.

Cuscal joins Westpac, Citibank and American Express as Samsung Pay partners.

Richard Fink, Vice President, Mobile Division at Samsung Australia said:

Through Samsung Pay’s partnership with Cuscal we are providing millions of Australians a convenient and safe payment option. Every partner we bring onboard, whether it be a financial institution or retail brand through our Samsung Pay loyalty functionality, brings us a step closer to helping customers replace their wallets with their Samsung smartphone or smartwatch.

The announcement comes as Samsung Pay marks its first anniversary in Australia. During its year of operation in this country, Samsung has now partnered with over 40 payment card brands and has over 100 different types of loyalty cards loaded onto Samsung Pay – making everyday payments and loyalty point collections simple and secure for Australians.

Robert Bell, General Manager of Product & Service at Cuscal said:

We’re really pleased that our clients’ customers can now use Samsung Pay. Our aim is to allow all of our clients to offer their customers the newest and best payment options available, to help them compete with much larger players. With the addition of Samsung Pay we continue to fulfil this promise to them.

Cuscal’s 38 financial institutions now available on Samsung Pay are: Australian Unity, Bank Australia, Bank of Sydney, Beyond Bank Australia, Big Sky Building Society, Catalyst Money, Central Coast Credit Union, Central Murray Credit Union, Community First Credit Union, Credit Union SA, CUA, Customs Bank, Defence Bank, Firefighters Mutual Bank, First Option Credit Union, Holiday Coast Credit Union, Horizon Credit Union, Illawarra Credit Union, Intech Bank, MyState, Nexus Mutual, Northern Beaches Credit Union, P&N Bank, People’s Choice Credit Union, Police Bank, QT Mutual Bank, Queenslanders Credit Union, Reliance Bank, SCU, Select ENCOMPASS Credit Union, South West Slopes Credit Union, Teachers Mutual Bank, The Mac, The Rock, UniBank, Unity Bank, WAW Credit Union Co-Operative, Woolworths Employees’ Credit Union Limited.

Samsung Pay has more than 870 bank partnerships worldwide and there has been more than 240 million transactions processed over the past year and a half.

For more information about Samsung Pay visit www.samsung.com/pay.

Media contact
Jake Waddell jwaddell@cuscal.com.au 0417 312 902
Jo Savill jsavill@cuscal.com.au 0447 555 018

_{¹ Samsung Pay is available on the Samsung Galaxy Note 5, Galaxy S6, S6 edge, S6 edge+, Galaxy A5, Galaxy A7, Galaxy S7 and S7 edge and from April 28, 2017, the Galaxy S8 and S8+. Compatible wearable devices include the Gear S2 and Gear S3 smartwatches. Samsung Galaxy S6 and S6 edge do not support the MST functionality of Samsung Pay.}

Wirecard to launch in Australia with Cuscal

Posted on December 20, 2016October 27, 2023 by Rachael Shupe

Sydney, 20 December, 2016: Today Wirecard AG and Cuscal announced they will be working together to allow Wirecard’s proprietary omni-channel payment processing platform to receive credit and debit card transactions in Australia.

Wirecard is a global technology group that supports companies to accept electronic payments from all sales channels. The partnership with Cuscal will allow it to offer Australian merchants its efficient method of online payment processing. Wirecard’s solution can be adapted to meet the individual requirements of each merchant, improving conversion rates at the point of check out.

Grigoriy Kuznetsov, Executive Vice President Global Financial Services at Wirecard, said:

We are delighted to expand our cooperation with Cuscal. This enables us to extend our global merchant acquiring solutions to one of the most important payment markets in the world and ensure that our customers can enjoy consistent service and seamless access to payment options worldwide.

Acting General Manager, Product & Service at Cuscal, Colin Sultana said:

We’re really pleased to be supporting Wirecard in Australia. We’re all about using our expertise and scale to help existing companies grow as well as to support new companies to enter the market. By working with companies like Wirecard we’re driving competition in payments, increasing innovation and giving businesses greater choice which will ultimately benefit everyone.

Wirecard is one of many new companies moving into the Australian payments acceptance market, creating further disruption in the payments industry overall. Most are being drawn here by the allure of large and steady revenue streams and a population ready and willing to embrace new payment technology.

Media contact
Jake Waddell jwaddell@cuscal.com.au 0417 312 902