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New Zealand Startup Wins Trans-Tasman Internet Award
31 August 2016
New Zealand Startup Wins
Trans-Tasman Internet Award
New Zealand financial technology company Latipay last night received the Tech Startup Award at the 2016 Australia New Zealand Internet Awards (ANZIAs) in Melbourne.
The online payments provider is the only financial technology company allowing purchases of Kiwi products to be paid for in Chinese yuan, while enabling New Zealand vendors receive payment in Kiwi dollars. It does this with a cloud-based platform that bolts onto 19 Chinese banks, and e-wallets including Alipay, WeChat and JDPay.
Available to any New Zealand organisation doing business with China, the business focuses particularly on the travel and education markets, and e-commerce providers. The company plans to expand to Australia later this year.
“We’re really grateful for this award and proud we’re helping these businesses make the most of the opportunities China offers them,” said Latipay Chief Executive Leigh Flounders.
As well as offering a technical solution, Latipay has worked with Chinese and New Zealand accreditation agencies to ensure its platform is safe, reliable and compliant with Chinese and NZ regulations.
“Our technology offers a reliable mechanism for Chinese consumers to buy New Zealand’s highly valued goods and services in their own currency,” said Flounders. “Only a quarter of China’s population have a credit card and about 40 per cent of its online purchases are made via e-wallets.
“We have also worked hard with the key agencies to make the platform safe and compliant in both China and New Zealand.
“By ticking the regulatory boxes and offering an agile technical solution to the problem of receiving payment from China, we’ve made trading with New Zealand’s second largest export market all the easier.”
Latipay has been in business since January.
“Winning an ANZIA award is testament to
showing real innovation and being ahead of the game in
today's technological era,” event co-organiser Internet
NZ’s Megan Baker said.
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