Woolworths is taking the next step in CEO Brad Banducci’s strategy to create a retail ecosystem for the group with the launch of its stand-alone payments business, Wpay.

Wpay will see Woolworths take on the big four banks in offering the end-to-end payment solutions to merchants outside of the group. The proposed separation of Endeavour Group from Woolworths Group will see Wpay become the payments provider to BWS and Dan Murphy’s. WPay is already the payments provider to Endeavour Group Australia.

In addition the Wpay team is also looking to trial new ways to help customers pay digitally in-store in the months ahead.

Banducci said: “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.

“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.

“Payments are an increasingly important part of the shopping experience both in-store and online and we bring unique expertise to this space as retailers.

“We’ll continue to invest in our platform to unlock the best possible experience for our stores and merchant partners.”

Wpay will offer Australian merchants a comprehensive payments and commerce platform, including:

  • Integrated in-store and digital payments, supporting traditional card payments, digital wallets and alternative payment methods, optimised for use in Australia;
  • Payment services including transaction processing at scale, rapid funds settlement and simple reconciliation, fraud management, detailed reporting and merchant analytics; and
  • Gift card program management including sale, redemption and distribution partnerships.

Paul Monnington, currently Woolworths General Manager of Fintech, has been appointed the Managing Director of Wpay.

He said: “It’s an exciting time in the world of payments with new technology driving better experiences for consumers. Wpay enters the sector with a strong Australian pedigree serving high volume retail brands across food and grocery, fuel, liquor, hospitality and e-commerce.

“Aside from payments, we know merchants are also looking for simpler ways to integrate gifting, loyalty and direct marketing platforms to engage customers while maintaining direct relationships. We look forward to partnering with merchants to help bring this to life.”

Woolworths is the fifth largest processor of card payments in Australia settling an annual value of more than $50bn across more than 1.3 billion transactions.

Andy Young

Andy joined Intermedia as Editor of The Shout in 2015, writing news on a daily basis and also writing features for National Liquor News. Now Managing Editor of both The Shout and Bars and Clubs.

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