Woolworths Group has launched a new stand-alone payments business dubbed Wpay, which will offer end-to-end payment solutions to merchants outside of the group.
Wpay will offer Australian merchants a payments and commerce platform, which includes integrated in-store and digital payments, supporting traditional card payments, and support for digital wallets.
It also comes with a range of payment services such as transaction processing at scale, rapid funds settlement and simple reconciliation, fraud management, detailed reporting, and merchant analytics. Additionally, it will also have gift card programme management, including sale, redemption, and distribution partnerships.
"As Australia and New Zealand's largest retailer, we've been investing in leading-edge payment capabilities to service our retail businesses for many years," said Woolworths Group CEO Brad Banducci. "We believe there is value in extending the benefits of the investments we've made in our payments platform to other merchants who may not have the scale to build it themselves."
Woolworths claims to be the fifth-largest processor of card payments in Australia, with an annual value of over $50 billion across more than 1.3 billion transactions.
RELATED RESOURCE
Wpay will become the payments provider to BWS, a retail chain of liquor stores, and Dan Murphy's, a liquor supermarket chain, which are both owned by the Endeavour Group, which is scheduled to split from the Woolworths Group as part of a proposed separation.
"It's an exciting time in the world of payments with new technology driving better experiences for consumers," said Paul Monnington, Woolworths general manager of fintech, who has been appointed managing director of Wpay.
"Wpay enters the sector with a strong Australian pedigree serving high volume retail brands across food and grocery, fuel, liquor, hospitality and e-commerce,"
-
Google says reports of a 'huge' Gmail breach affecting millions of users are false, againNews Reports of a major Gmail affecting millions of users have been flooding the web this week – Google says they're "false" and you've nothing to worry about.
-
Document management systems (DMS) in the AI era: How to choose the right solution to create a trusted foundation for your businessSupported In the AI era, documents are no longer just records — they’re strategic assets. A modern DMS provides the secure, intelligent foundation firms need to harness AI, ensure compliance, and build lasting digital confidence
-
UK firms are pouring money into AI, but they won’t see a return on investment unless they address these key issuesNews An SAP report projects increased AI investment, but cautions that too many organizations are taking a fragmented approach
-
Intel makes high-level hires while factory workers are warned of layoffsNews The company is appointing four senior executives as part of efforts to refocus on engineering and customer relationships
-
UiPath names Simon Pettit as new AVP for UK and IrelandNews The seasoned leader will spearhead region-specific transformation projects as UiPath looks to drive operational growth and customer engagement
-
Optimise CX and accelerate business growth through your voice networkwhitepaper Protecting the human experience in a digital world
-
Enterprises are doubling down on IT optimization strategies – and it’s delivering huge financial returnsNews Organizations that have cracked IT cost optimization and innovation reap the rewards both financially and in terms of time to market.
-
IDC InfoBrief: Sustainability doesn’t need to be all stick and no carrotwhitepaper CIOs are facing two conflicting strategic imperatives
-
How to empower employees to accelerate emissions reductionin depth With ICT accounting for as much as 3% of global carbon emissions, the same as aviation, the industry needs to increase emissions reduction
-
Worldwide IT spending to grow 4.3% in 2023, with no significant AI impactNews Spending patterns have changed as companies take an inward focus
