Fintech apps DiviPay and Splitr look to make splitting payments easier
By Administrator | 5 July 2017
Australian consumers seemingly loves their fintech, with a report released by EY earlier this week ranking Australia fifth globally for adoption of fintech services and products among its ‘digitally active’ population, with money transfer and payment services in particular popular locally.
When it comes to payment splitting apps, though, it would be hard to classify any in the market as a leader. Unlike say, Venmo, in the US, many Australian consumers are simply used to inputting each other’s bank details into their own banking app and transferring funds that way.
Looking to be that leading app is Sydney’s DiviPay, originally born out of another idea founders Daniel Kniaz and Russell Martin were testing out. With both having worked at Westpac, Kniaz said they “had an idea of what the future of payments could look like”.
They started prototyping an “invisible payments system”, similar to the Uber payment experience, he explained, but received feedback on customers that told them the greatest pain points still lie in group payments and bill splitting, whether it be a restaurant bill, utility bills to split between housemates, or accommodation on a group trip. Read more
Gina Baldassarre - Startup Daily - 30 June 2017
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