Westpac wants to take over your messaging keyboard

Westpac wants to take over your messaging keyboard
21.03.2017 12:15 pm

Westpac wants to take over your messaging keyboard

Payments , Banking

Westpac is working with Israeli-based startup PayKey on technology to add banking options to the bottom of a screen on a messaging app.

PayKey has been doing the rounds of startup contests over the past year, graduating from the MasterCard StartPath and BBVA Open talent programme, winning a Santander 'Pitch Slam' event in Israel, and currently going through an accelerator programme with India's Yes Bank. 

The firm, which recently raised $6 million in Series A funding, enables banks to provide their users with peer to peer payment options through any social and messaging platform. PayKey's keyboard app bridges the gap between bank applications and social networks by adding optional banking icons to the bottom of the screen during in-app conversations.

Santander is running a number of trails of the technology across its global network having participated in Paykey's latest funding round. Now Westpace is trying out the technology - under the brand name Westpac Keyboard - as part of a drive into new payments territory, including the development of wearable devices.

The tie-up with PayKey was reported in the Australian Financial Review in a chat with Westpac's consumer banking chief executive George Frazis.

Frazis told the paper the Westpace Keyboard would make its debut later this week. The bank - which has previously been an advocate of PayTag contactless stickers - is also exploring new wearable payment options, handing out fitness bands with a clip-on contactless chip to employees.

Much like Barclays Bpay, the wearable chip will initially be available in a smart wristband later this year. The chip could be stitched into clothing or attached to any other jewellery or accessories, Frazis told the AFR.

"Effectively what we have done is combined the antenna and the chip into one element that you can then put into any accessory that is convenient for the customer," Frazis said. "This has unlimited potential for fitting in with whatever your lifestyle is."

Related News

Businesses will risk recovery unless $20 billion online payments hole is plugged

The economic recovery could be reduced or delayed unless businesses plug an annual $20bn hole in online transactions, according to a new study by fintech unicorn, ... Read more »

Ingenico helps digital businesses scale at pace

Ingenico Group (Euronext: FR0000125346 - ING), the global leader in seamless payments, today unveils a ... Read more »

True Name™ Card to be made available across Europe

Today, Mastercard has announced their commitment to bring the True Name card to Europe in 2020, enabling people to reflect their preferred... Read more »

Danske Bank opens up for payment initiation with Nordic API Gateway

The open banking platform, Nordic API Gateway, announces that it has extended its partnership with Denmark's leading bank to enable customers to pay from other... Read more »

Mastercard, AMEX & Visa announce global expansion of Click to Pay

E-commerce has reached new heights around the world, as more consumers are going online to make secure, touch-free purchases across various merchants and platforms. Now, it’s... Read more »

Soldo extends partnership with Mastercard

Spend management platform Soldo today announces that it has extended its partnership with Mastercard®, to become a principal member of the... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel