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Integrated Payment Technologies lists on ASX; launches new technology

Newly listed Integrated Payment Technologies (ASX:IP1) (InPayTech) has launched a digital initiative aimed at streamlining the settlement of all electronic payments to just one day.

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Integrated Payment Technologies lists on ASX; launches new technology

Called PayVu, the technology eliminates the current three-day clearance delay which is a standard business banking protocol.

The new technology is supported by smartphone and internet browser technology, offering payments processing with the convenience of on-the-go mobility.

PayVu features InPayTech’s patented payment reference process and along with its existing services deliver a complete payments solution for Australian small to medium enterprises (SMEs).

PayVu supports all payment transaction types, including invoices, salaries, superannuation, payroll tax, expense claims and foreign currency payments.

For superannuation payments, PayVu is compliant with SuperStream standards.

It is also ready for the Australian Taxation Office’s Single Touch Payroll initiative, due to be rolled out in July 2017.

PayVu offers advantages beyond helping SMEs to claw back much needed time in their daily operations.

For example, it will remove third party clearing house delays on superannuation payments and deliver a more efficient alternative that links the employer directly to the superannuation fund.

PayVu will enter a restricted beta program on 24 December 2016 and be available for download from 31 January 2017.

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