NPP Identified Institution Split Payments has partnered with personal transport provider A2B Australia Limited to enable real-time payments to more than 40,000 professional drivers across Australia 24/7, 365 days a year.
Until now, drivers who often work across the weekend and public holidays were required to wait until the next business day to receive their fares cleared into their bank account. Timely access to earnings is important for these drivers, who are effectively running their own business and incurring daily expenses such as fuel, tolls and government levies.
A2B Australia Limited’s CEO Andrew Skelton says the solution means taxi drivers can now be paid their earnings in under a minute any day of the week, any day of the year.
“A2B’s partnership with Split Payments has enabled us to deliver an innovative and industry first payment solution that empowers drivers with more control in running their day-to-day business”, he said.
This real-time solution is possible through Split Payment’s ‘payout tool’ for enterprises. The tool was developed by combining payment initiation APIs that access the NPP and its speed and data capabilities with Split Payments’ own core payments processing capabilities.
A2B’s handheld terminals captures the individual driver fare data. At the end of the driver’s shift, A2B initiates a payment out to the driver via Split Payments portal which is processed in real-time. A2B can access data in real-time enabling them to reconcile pay-outs as they occur in their own systems.
Matthew Cheers, co-founder of Split Payments said the solution brings to life the unique capabilities of the NPP and is a game changer for the personal transport industry.
“Not only is this a ground-breaking solution that provides drivers greater control and faster access to their earnings, it also delivers A2B significant efficiencies for their organisation,” said Mr Cheers.
A2B operates one of the few payment switches functioning in Australia, as well as the country’s sixth largest fleet of payment terminals.
“Working with Split Payments has propelled us further towards the cutting edge of real-time payments,” says Andrew Skelton.
For more information visit https://www.splitpayments.com.au/