OtherPay joins Change Financial and Fintech Actuator’s Prepaid Incubator Program
Brisbane-based fintech Change Financial has today announced OtherPay as the latest participant in its Prepaid Incubator program. OtherPay is a fast-growing fintech platform revolutionising electronic payments and consumer authentication.
Focused on ending purchase and identity fraud, OtherPay aims to bridge the gap between traditional banking and the evolving needs of modern consumers. By participating in the incubator, OtherPay will introduce prepaid card functionality into its platform, enhancing its offering with new tools and features for purchase and identity protection.
Simon Hewitt, Chief Executive & Innovations Officer at OtherPay said, “We’re proud to be part of the program and to work alongside Change Financial and Fintech Actuator. This collaboration provides us with a valuable opportunity to accelerate the development and launch of our unique payment card features where we believe that innovation meets common sense and where both purchase and identity fraud can be prevented.”
Tim Boucaut, CEO, of Fintech Actuator commented, “OtherPay is building a solution with the potential to put an end to purchase and identity fraud. We’re excited to support their journey and bring their innovation to market through this program.”
In this alliance, Change Financial will issue Mastercard prepaid cards, with Fintech Actuator managing the program, aiding FinTechs with comprehensive guidance from onboarding to design and execution.
The incubator program, which launched last year, saw Change Financial and Mastercard create an environment that empowers emerging FinTechs to innovate by running small scale prepaid card solutions to test their products in market, without the cost and extensive processes involved in launching their own custom card programs.
Each program runs for a period of six to nine months, providing continuous support and guidance to the participating FinTechs.
“This innovative incubator program was crafted with a vision to accelerate the growth and innovation of Australian FinTechs, ensuring they have the necessary tools and support to navigate through the initial stages of development and market testing. This latest partnership with OtherPay is this vision in action,” said Tony Sheehan, Chief Executive Officer of Change Financial.
