Zepto is delivering on its vision to be a better way to pay. Not only are we delivering that in Australia, we're looking to expand that footprint into other markets offshore. And we've just taken a first significant step on that quest.
"This is a massive milestone," said Zepto CEO, Chris Jewell.
It has been a huge collaboration and months of effort to deliver this superb outcome. It is significant. Significant for us at Zepto, significant for the market, and significant for our customers.
Launching into New Zealand is an important strategic waypoint on Zepto's business roadmap, one that will deliver learnings, new solutions and new ways of engaging with a market that is similar to Australia's but also fundamentally different.
Leading the project, Zepto Product Manager Henri Pryde said the moment is an exciting one.
So many of us have worked on this for so long, navigating the technical, operational, regulatory compliance and legal nuances of the local market to deliver the best product for our customers. It has been pretty incredible, really.
"We're launching fairly softly, but we'll soon have a number of our Australian customers transacting in New Zealand - a new market for them. From there, Zepto will announce its arrival, bring its culture of payments innovation, and build a presence in the Kiwi market. It's an exciting moment for us," he added.
Things move fast at Zepto. On our relatively short journey to date, we have laid down some incredible milestones. In September 2021, for example, Zepto became an Accredited Data Recipient [ADR] under the ACCC’s Consumer Data Right [CDR] - the first non-bank payments provider with this accreditation. In October that year, we became the first non-bank FinTech approved to connect directly to the New Payments Platform [NPP] as a ‘Connected Institution’––an ambitious, strategic play that will open a world of opportunity to Zepto and its customers for years to come.
In March 2022, we welcomed a Series A investment of $25 million from AirTree Ventures and Decade Partners. And in August, Zepto CEO Chris Jewell presented to the Reserve Bank of Australia (RBA) and the Payments Systems Board in Sydney.
As a business, we don't take these milestones for granted. It's not our style to just push on through without stopping to reflect on how far we've come, and what we've been able to achieve together. Right now we're acknowledging this moment with incredible satisfaction.
We look forward to saying Kia Ora more formally soon, and forging incredible commercial relationships and partnerships with Kiwi businesses on the bridge we've built to the future of payments.
Join us.
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