Volt has received an Australian Financial Services Licence (AFSL) from the Australian Securities and Investments Commission (ASIC).

The licence allows the account-to-account (A2A) payments firm to offer pay-ins and pay-outs on Australia’s New Payments Platform (NPP) to retail and wholesale clients.

The approval means Volt now holds its own licences in all three of its core markets.

In the UK, it is an Electronic Money Institution. Across the European Economic Area, it holds a Polish National Payment Institution licence.

On the NPP, Volt runs PayTo collections for one-off, one-click and recurring payments.

PayTo lets a business take money straight from a customer’s bank account once the customer agrees.

Merchants can also use PayID, which links an account to a phone number or email address, to match payments automatically.

For money going out, Volt sends instant pay-outs to bank accounts or PayIDs. A Confirmation of Payee check makes sure the account name matches the person being paid.

“The AFSL gives us the ability to provide our global merchants and PSPs a unified A2A experience with pay-ins and pay-outs in Europe, the UK and Australia,”

said Steffen Vollert, CEO and Co-Founder of Volt.

“For the merchants we work with, that’s a meaningful product expansion.

It’s also a clear signal of intent: Australia is a strategic market we’re investing in for the long term, not a satellite operation,”

said Kristofer Rogers, SVP Australia and New Zealand at Volt.

Featured image: Edited by Fintech News Australia, based on image by Volt via its Press Release and vicnt via Magnific.