NOV is a company which provides multiple payment/transaction services and SAAS solutions to companies.
- ChinaPayments.com (main revenue growth)
- Allows chinese nationals without an australian bank account to pay BPAY bills using Alipay & WeChat
- Vasco Pay
- Helps companies launch prepaid card programs and other payment solutions
- NOV holds a Principal Issuer licence ("Visa Issuer") of Visa Worldwide Pty Limited, a subsidiary company of Visa Inc. ("Visa").
- Provides card services for setting up international top-up, cash top-up vouchers and collection and remittance services.
- SendFX (sendFX.com.au)
- Novatti is a 25% shareholder in SendFX, having provided technology and capital to SendFX earlier in 2019.
- Slice Payments
- NOV is providing a "Buy Now Pay Later" SAAS solution to Slice Payments (Australia) Pty Ltd ("Slice Payments") for deployment in the United Kingdom.
- 15% shareholder in Slice Payments in consideration for providing the solution.
- Novatti will then be paid transaction fees for the on-going provision of the SAAS.
- IncentiaPay Limited, ASX:INP (“IncentiaPay”) has a payments solutions partnership with Novatti Group Limited
- IncentiaPay and Novatti will share in the transaction and marketing fees paid by consumers and merchants.
NOV is also applying for a Restricted Authorised Deposit Institution (RADI) banking license which will enable it to provide further banking services to foreigners and migrants. NOV aspires to be a NEOBANK like VOLT and XINJA but will differentiate itself to provide banking services to foreigners and migrants.
For details of their banking subsidary I would suggest reading these ASX Announcements for the full context
1st Investment Round in Banking Services Unit
Next Investment Round in Banking Services Subsidiary