When deciding on a new card payment platform, it’s crucial to consider the technical features that will ensure a seamless, convenient and secure experience. Here are five essential features to prioritise when evaluating card payment platforms.

Payment Platform Features

Integration with Digital Wallets: 

As digital wallet platforms like Apple Pay, Google Pay, and Samsung Pay gain popularity, it’s important to choose a card payment platform that seamlessly integrates with these systems. This integration allows customers to make payments using their digital wallet, offering both convenience and enhanced security compared to traditional physical cards.

APIs for Mobile Development and Integration:

If you’re a developer or plan to incorporate the payment platform into your mobile or web-based application, look for a platform that provides robust APIs (Application Programming Interfaces). These APIs enable easy integration, allowing you to customise the payment experience and create a seamless connection within your app.

Cardholder Self-Service:

Empower cardholders with greater control and convenience by opting for a payment platform that offers self-service features:

  • PIN Reset: Allow users to reset their PIN securely.
  • Card Blocking: Enable cardholders to block a lost or stolen card immediately.
  • Temporary Card Pausing: Let users lock their card temporarily—for those times when they need a break from card usage.

These features prove especially valuable during emergencies or when managing card security.

Security and Fraud Protection:

Prioritise a payment platform that goes the extra mile in safeguarding transactions. Key security measures include:

  • 3D Secure (3DS): Implement this security protocol to protect online card transactions.
  • Encrypted Data Transmission: Ensure that sensitive information remains confidential during communication.
  • Secure Servers: Host transactions on secure servers to prevent unauthorised access.
  • Regular Security Updates: Stay ahead of potential threats by keeping security protocols up to date.
Virtual Cards:

Another useful feature to consider is the ability to create virtual cards. Virtual cards are digital versions of physical cards that can be used for online transactions. Virtual cards have several advantages including:

  • Organised Finances: Create separate virtual cards for different purposes (e.g., online shopping, family expenses).
  • Loss and Theft Prevention: Virtual cards cannot be physically lost or stolen.

Discover Vertexon: Delivering Modern Card Payment Solutions

Vertexon, a Payment as a Service (PaaS) platform developed by Change Financial, stands out in delivering modern and digital payment experiences for both businesses and consumers. 

Vertexon excels in its integration with digital wallets, supporting popular options like Apple Pay, Google Pay, and Samsung Pay, allowing end users to make payments online or in-store using their mobile device.

The platform also offers APIs for businesses to seamlessly integrate Vertexon into their systems, fostering customised payment experiences for their customers.

Cardholder self-service is a notable feature of Vertexon, empowering users to manage their cards and PINs while accessing their transaction history.

Security is a top priority, with Vertexon implementing multiple layers of protection, including encryption, secure authentication, and real-time monitoring to combat fraud and unauthorised transactions.

Adding to its versatility, Vertexon supports the use of virtual cards, catering to businesses with frequent online payment needs. These cards can be easily generated and managed through the Vertexon platform.

For businesses seeking to modernise their card platform with these essential features, our sales team is ready to assist.

Explore all the features of Vertexon by checking out our comprehensive roadmap and elevate your payment experience with Vertexon today!

Brisbane’s global fintech, Change Financial, unveiled Doing Good Rewards as the debut participant in their ambitious Prepaid Incubator program.

Doing Good Rewards is the world’s first loyalty program to automatically combine shopping discounts and charity giving in the same transaction. Their fresh approach has drawn attention for its powerful social impact and novel application of Mastercard prepaid cards, contributing to merchant onboarding and enhancing business visibility in the Australian market.

“Being chosen as the first participant in this remarkable program marks a pivotal moment for Doing Good Rewards. It validates our innovative approach in blending commerce with charity, and we are thrilled to work alongside esteemed partners like Change Financial, Fintech Actuator, and Mastercard,” said Brad Langdon, Chief Executive Officer of Doing Good Rewards.

“Brad and the team put forward a compelling value proposition and we’re excited that our first incubator participant has such positive social impact goals,” added Tim Boucaut, Managing Director, Fintech Actuator.

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.

Mastercard will support the participants with access to industry experience, technology, and connections to help validate their program. Change Financial and Mastercard aim to create an environment that allows emerging fintechs to experiment, innovate, and prosper by offering them a platform to test their prepaid card solutions in the real world.

“This collaboration helps remove many of the barriers for local fintechs to enable card issuing programs, it’s designed to be accessible whilst allowing partners to test, learn and scale,” said Dan Martin, Vice President and Head of Digital Partnerships, Australia at Mastercard.

Each program will run for a period of six to nine months, providing continuous support and guidance to the participating fintechs.

“This innovative incubator program has been 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,” said Tony Sheehan, Chief Executive Officer of Change Financial.

To find out more about or apply to be part of the Incubator Program, head to https://www.fintechactuator.com/

Change Financial, along with Mastercard and Fintech Actuator launched their Australian first Prepaid Incubator Program at Fintech Australia’s Intersekt Festival in Melbourne.

A panel session, Creating Change and Mastering the Art of Issuing with Fintech Actuator was hosted by Simone Thompson from Thoughtworks. The panel saw Ashima Chaudhar, Mastercard VP Head of Development, Vinnie D’Alessandro Change Financial Chief Product Officer and Tim Boucaut from Fintech Actuator explain the value of the program.

You can view the panel session here.

To find out more about or apply to be part of the Incubator Program, head to https://www.fintechactuator.com/

  • Change Financial wins new client, HealthNow and together they aim to revolutionise workplace wellness in New Zealand
  • HealthNow’s Employer Aid sets a new standard for workplace wellness, empowering employers in supporting employee wellness and health improvement
  • Employer Aid aims to provide New Zealanders with a seamless payment experience through a one-card approach
  • Employer Aid will integrate with Change Financial’s Vertexon payments platform, leveraging Change’s Mastercard issuing capability in New Zealand, ensuring a robust and reliable payment infrastructure for HealthNow’s clients

Auckland, 24 August 2023: Change Financial Limited (Change), a leading ASX-listed (CCA) Australian payments fintech, is thrilled to announce New Zealand health services pioneer, HealthNow, has chosen Change’s Vertexon platform to power their Employer Aid prepaid card program. Employer Aid is set to revolutionise how New Zealand employers support and promote the health and wellness of their employees.


Employer Aid, powered by Change’s Vertexon platform and leveraging its Mastercard issuing capability in New Zealand, is HealthNow’s solution to the growing need for proactive health solutions in the workplace. 1 According to the 2023 Global Survey by Virgin Pulse and YouGov,
76% of workers believe their company should be doing more to support the mental health of their workforce.

The program works closely with employers to educate staff on how to use their health allowances effectively, ensuring they remain healthy and well. The one-card approach eliminates barriers, offering a smooth payment experience and acting as a constant reminder for employees to prioritise their healthcare.

Tony Sheehan, Change Financial Chief Executive Officer, said, “It’s exciting to have HealthNow as a new client and to enable them to achieve their vision of launching Employer Aid. This collaboration is a testament to our shared commitment to providing innovative financial
solutions tailored to the needs of New Zealanders.”


Steven Zinsli Founder & CEO of HealthNow highlighted the program’s innate ability to adapt to the different needs of each employee.
“Employer Aid allows employers to acknowledge the diverse health needs of their employees, recognising for example that the ideal employee benefit for a 25-year-old differs from that of a 50-year-old. “Our program provides an effective alternative to traditional health insurance, shifting the focus to
preventative healthcare. By allowing employers to select their contribution value, we ensure that Employer Aid fits seamlessly into any budget,” Mr Zinsli commented.

With Employer Aid, HealthNow is offering both a payment solution and championing a shift in how employers view and support employee health. By focusing on preventative rather than reactive healthcare, HealthNow is setting a new standard for workplace wellness in New Zealand.

New Zealanders can anticipate the launch of the Employer Aid prepaid card program towards the end of 2023, marking a significant step forward in health-focused financial solutions.

HealthNow and Change Financial are exploring expanding their partnership into the Australian and US markets in the coming months.

1 2023 Global Survey of workplace wellbeing priorities, by Virgin Pulse and YouGov, May 2023

  • Simply Zibra is launching AI-powered virtual cards through Change Financial to empower consumers to spend in a smarter way.
  • Simply Zibra seeks to drive better financial outcomes for consumers by using AI to source loyalty program benefits, low fees, cashback incentives and rewards points on everyday payments – automatically.
  • Change Financial will provide Mastercard card issuing to provide the payments capability in market

Brisbane, 15 August 2023: Change Financial Limited (Change), a leading ASX-listed (CCA) Australian payments fintech, today announced it will provide Mastercard card issuing to Simply Zibra, an AI-driven digital wallet that helps consumers get the most out of their money. Using AI, the system optimises every payment made via the Change issued Mastercard through analysing the transaction in real time and selecting the card that will provide the most benefits for the consumer. These benefits can include lower foreign exchange fees and interest, frequent flyer miles, cashback opportunities and rewards points, depending on the preferences and goals of the user.


Change Financial Chief Executive Officer, Tony Sheehan, said the partnership aims to offer unprecedented benefits for consumers, by allowing them to automatically receive third party savings that they may not otherwise be aware of. “We are proud to be powering Simply Zibra’s innovative technology with our card issuing capabilities. Their commitment to supporting financial optimisation through AI-driven personalisation is a breakthrough for Australian consumers.” said Mr Sheehan. “Our card issuing capabilities have helped bring this innovation to market and it will facilitate the use of this technology for online and in-person payments, with consumers able to reap the rewards in a matter of seconds.”


The platform links all of a consumer’s accounts including debit cards, credit cards and saving accounts, to ensure that the AI process can work efficiently, by drawing on spending habits and information from a broader range of sources. Simply Zibra upholds data security by partnering with licensed entities to safely store financial data. The company does not hold a customer’s funds and has ‘read-only’ access to information.

Simply Zibra Chief Executive Officer, Trina Ray Choudhury, said by connecting a user’s existing suite of cards and accounts to automate payments, they can deliver greater financial outcomes for consumers through harnessing the benefits of AI. “We are delighted to join forces with Change Financial. Together we’re able to bring a pioneering payments tool to market that redefines how consumers manage and use their finances. This venture brings us one step closer to our goal of enhancing the financial lives of Australians.” Mrs Ray Choudhury said.

“Consumers are often missing hundreds of dollars in potential savings and by using AI, our technology works in the background, automatically applying relevant savings or even earning hidden rewards, without the consumer having to spend hours sorting through information.

This product and service will be available to the market towards the end of 2023.

  • Change Financial (Change) and Fintech Actuator are partnering with Mastercard to launch an incubator program for Australian fintechs to trial prepaid card solutions.
  • Under the partnership, Change will issue Mastercard prepaid cards and Fintech Actuator will act as the program manager to assist fintechs with onboarding, scope and design.

August, 1st 2023: Brisbane-based global fintech and payments as a service (PaaS) provider, Change Financial, has partnered with Mastercard and Fintech Actuator to make card programs more affordable and accessible to local fintechs and startups.

Under the program, Australian companies will be able to run 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.

Chief Executive Officer of Change Financial, Tony Sheehan, said the partnership was one of the first of its kind in Australia and will nurture startups by providing greater access to enabling card programs, previously unattainable.

“Australia continues to be a popular global fintech hub and we see many of these new businesses unable to complement their product offering with a card program because they don’t have the capital, expertise or understanding of the process,” Mr Sheehan said.

“This partnership with Mastercard and Fintech Actuator will significantly reduce these barriers to entry for startups creating greater opportunities for local fintechs.”

The advantage of the program is that it will offer low-cost onboarding and holistic support and guidance services throughout the establishment, testing and rollout stages.

Dan Martin, vice president and head of digital partnerships, Australia at Mastercard, said that as the fintech market in Australia continues to evolve and expand, collaboration between likeminded organisations can drive real impact in helping new entrants scale quickly.

“Speed to market, testing and increased agility are paramount in driving innovation and propelling smaller fintechs forward. Mastercard’s aim is to foster an ecosystem that allows fintech startups to thrive, contributing to the overall advancement of the Australian fintech industry. Mastercard supports fintechs with the industry experience, technology and connections that it has built across many decades,” said Martin.

Each program will run for between six and nine months and at Mastercard and Change Financials’ discretion, fintechs will have the opportunity to roll out a prepaid card program that is serviced through Change Financial and Mastercard.

Fintech Actuator’s Tim Boucaut commented “Startups and many smaller companies don’t meet the scale and volume requirements to launch a card program, and this partnership changes that. By guiding businesses through the process and providing support to test and validate an idea, we are enabling more local innovations to successfully launch in the ever-growing payments space.”

The program will commence in September 2023.

You can find more information at https://www.fintechactuator.com/

Change Financial Chief Product Office, Vinnie D’Alessandro wrote an opinion piece for Dynamic Business about how Australian fintechs can lead the way in the US payments space.

The US is a key player in the global financial system. Yet it appears to be lagging behind the global frontier when it comes to adopting modern payment solutions.

Vinnie D’Alessandro

Check out the article here https://dynamicbusiness.com/leadership-2/expert/opinion/do-aussies-have-the-key-to-unlocking-payment-potential-in-the-us.html

Having just returned from my first international vacation since COVID, I’m sharing my views on the changing cashless payments in Japan.

It’s my sixth trip to the Land of the Rising Sun since 2004 and it’s been interesting to see how the country and society has developed over those years. 

  • I used to feel like the tallest person on the Tokyo Metro, but the younger generation are growing taller
  • I still marvel at the infrastructure and technology, especially their highspeed Shinkansen railway and innovative car scene
  • Their ability to intertwine other cultures and yet remain quintessentially Japanese, is amazing to witness

Despite the advanced nature of their society, Japan curiously lags in digital payments.

The Japanese Ministry of Economy, Trade and Industry (METI) released a plan in 2018 called the “Cashless Vision,” which outlines measures to increase the use of digital payments in the country. The goal of the plan is to increase cashless transactions to 40% by 2025 in an effort to move Japan towards becoming a cashless society. Yet Australia was already sitting at less 63% cashless transactions back in 2019. It’s a strange situation.

So, on my travels through Japan’s major metropolises, regional cities and small towns, I made note of my payment experiences. Maybe COVID had accelerated cashless options, like it had in Australia.

Cash is king

I did not find one venue, store, vending machine or hotel where I couldn’t pay in cash. At one of the large US coffee chains stores, they refused to take any card payment, cash only!

There was not a day where didn’t get cash out of my wallet or fish through my pockets for loose change. Compared to Australia, where many venues are cashless, it’s a jarring experience. 

Card payments abound – but it’s inconsistent

Card payments (my weapon of choice was Mastercard plastic) were widely available, with swipe and insert the preferred method.

Most transactions were auto approved but some required signatures, which I haven’t used in Australia for more than a year. I don’t remember using my PIN but signed at least 5 receipts. Thankfully I had no rejected card payments over during my travels.

EMV and NFC – sort of, sometimes

The EMV symbol was visible at most point of sales, however it often wasn’t working or not offered as an option. I’d usually be ushered to insert the card, or they’d simply say it wasn’t available. 

I tried to use my Mastercard via Apple Pay and shocked some retail assistants when it worked. I’d show them my card on the phone, just to confirm it was a legitimate card payment. Suffice to say, they aren’t big on digital pays.  The Japanese love their signage at POS but there were very few that had the Apple Pay, Google Pay or Samsung Pay logos.

Alternative payments – IC a future here.

I started to use my transport card PASMO card for some payments. PASMO is one of the many regional options for IC (integrated circuit) cards, which are RFID based cards that dominate the transport payment space. The acceptance levels were high, especially in vending machines and retail chains. 

Whereas Australian public transport is moving towards open loop card payments, Japan’s existing transport payment infrastructure could help drive cashless payments in the medium term.

There were a variety of other payment options too, but again no dominate method had the consistency of acceptance quite like cash.

Cash and coins still required

Unfortunately, those wanting a completely cashless experience in Japan, you’ll be waiting a while.

You could navigate a path without using cash, but it’s just easier to have a couple of 1000s and a fistful of coins to ensure you can always transact.

PaySim is Change Financial’s payment testing and simulation tool. With PaySim, you can easily and accurately test your payment systems to ensure that they are working properly and compliant with industry regulations. 

Here we’ll explore why PaySim is an essential tool for optimising your payment systems and processes. 

Automation 

Automation has become an increasingly important part of the financial industry, and payment testing tools are a key aspect of this trend. Banks and fintech companies are using these tools to streamline their payment processes, improve efficiency, and reduce the risk of errors and fraud. 

Payment testing tools are software programs that automate the testing of payment systems. This includes everything from the initial transaction request to the final confirmation that the payment has been completed successfully. These tools can simulate a wide range of payment scenarios, allowing banks and fintech companies to test their systems thoroughly and ensure that they are working properly. 

Compliance and scheme tools generally operate on a single transaction at a time, however using PaySim allows you to automate thousands of transactions. 

Automated testing allows organizations to run more tests in less time, giving them a more comprehensive view of their payment systems and allowing them to identify and fix any issues more quickly. 

Return on Investment (ROI) 

One of the key benefits of using payment testing tools is that they can help banks and fintech companies to save time and money. Traditional payment testing methods are often time-consuming and labour-intensive, requiring teams of testers to manually carry out tests and analyse the results.  This can be a costly and inefficient process, especially for large organizations with complex payment systems.  

Other alternatives such as reliance on compliance and scheme tools which are designed for one off certification and to test transactions one at a time is also time consuming and costly compared to automating your day to day transactions via payments testing tools.  

Fraud Prevention 

Another important benefit of payment testing tools is that they can help banks and fintech companies to reduce the risk of errors and fraud. Payment systems are vulnerable to a wide range of potential issues, from technical glitches to malicious attacks. By using payment testing tools to simulate different scenarios, banks and fintech companies can identify potential vulnerabilities and take steps to fix them before they cause any problems. 

Regulatory Compliance  

In addition to improving efficiency and reducing the risk of errors and fraud, payment testing tools can also help banks and fintech companies to stay compliant with industry regulations as well as up to date with ever changing scheme mandates. Payment systems are subject to a wide range of rules and regulations, and it is important for organizations to ensure that their systems are compliant with these rules.  

On top of the regulations are the various mandated specifications required by banks and fintechs to adhere to. By using PaySim, banks and fintech companies can test their systems to ensure that they are compliant with the latest regulations and using the latest scheme mandates, helping them to avoid transaction failures, costly fines and other penalties. 

Summary 

Overall, PaySim is essential for banks and fintech companies looking to improve their payment processes and reduce the risk of errors and fraud. By automating the testing process, PaySim can help organizations to save time and money, improve their efficiency, and stay compliant with industry regulations. 

For more information on PaySim or to arrange a demo, reach out to our sales team.  

To see all the features of PaySim, check out our roadmap. 

When it comes to choosing a new card payment platform, there are certain technical features that are essential for ensuring a smooth, convenient, and secure experience. Here are the five essential technical features to look for in a card payment platform:

Features

  1. Integration with digital wallets: Digital wallet platforms like Apple Pay, Google Pay, and Samsung Pay are becoming increasingly popular, and it’s important to choose a card payment platform that can integrate with these systems. This will allow you to make payments using your digital wallet, which can be more convenient and secure than using a physical card.
  2. APIs for mobile development and integration: If you’re a developer or you plan to integrate the payment platform into your own mobile or web-based application, it’s important to choose a platform that offers APIs (Application Programming Interfaces) for easy integration. This will allow you to customize the payment experience and build a seamless integration into your application.
  3. Cardholder self-service: To give cardholders more control and convenience, look for a card payment platform that offers self-service features such as the ability to reset a PIN, block a lost or stolen card, or pause a card temporarily. These features can be especially useful in the event of a lost or stolen card, or if you need to take a break from using your card for a while.
  4. Security and fraud protection: Finally, it’s essential to choose a card payment platform that offers robust security and fraud protection measures. This can include features like 3D Secure (3DS), which is a security protocol that helps to protect online card transactions, as well as encrypted data transmission, secure servers, and regular security updates.
  5. Virtual cards: Another useful feature to look for is the ability to create virtual cards. Virtual cards are digital versions of physical cards that can be used for online transactions, and they offer a number of benefits. For example, you can create separate virtual cards for different types of purchases or for different family members, which can help to keep your finances organized and separate. Virtual cards also offer an extra layer of security, as they can’t be lost or stolen like physical cards can.

Vertexon: delivering modern card payment solutions

Vertexon is a Payment as a Service (PaaS) platform developed by Change Financial. It is designed to provide modern and digital payment experiences for businesses and consumers.

One of the key features of Vertexon is its integration with digital wallets. This allows users to store and manage their payment information in a digital wallet, such as Apple Pay, Google Pay or Samsung, and make payments online or in-store using their mobile device.

Vertexon also includes APIs (Application Programming Interfaces) that allow businesses to integrate the platform into their own systems and processes. This can enable them to create customised payment experiences for their customers.

Cardholder self-service is another feature of Vertexon. This allows cardholders to manage their own card and PIN, and check their transaction history.

Security and fraud protection are also important considerations for any payment platform. Vertexon includes multiple layers of security to protect against fraud and unauthorized transactions, including encryption, secure authentication, and real-time monitoring.

Finally, Vertexon supports the use of virtual cards. Virtual cards can be especially useful for businesses that need to make frequent online payments, as they can be easily generated and managed through the Vertexon platform.

Are you looking for these essential features to modernise your card platform, reach out to our sales team.

To see all the features of Vertexon, check out our roadmap.