Business
Woolworths takes on the big banks with new payments business – The Sydney Morning Herald
The supermarket giant is set to become a major competitor in Australia’s $700 billion payments sector after setting up a new standalone company called WPay that…
Supermarket giant Woolworths is set to become a major competitor in Australias $700 billion payments industry after setting up its internal payments system as a new standalone company called WPay, which will offer its services to other merchants.
Woolworths began building its own in-house payments platform back in 2007, and has since grown it into Australias fifth-largest processor of card payments behind the big four banks, covering some $50 billion worth of transactions a year.
A website established…
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