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Welcome to the third instalment of This Week in Fintech. Thanks for subscribing 🙌

The low down ⏱️

AP+ launches their next project ConnectID, Zeller launches Split Payments, Apple’s Tap to Pay launches to Adyen clients, KttiPay launches with Shaype, Stables is live in the Phillipines, Airwallex is eyeing growth in Latin America, Cuscal is going for an IPO on the ASX.

This week in Australia 🇦🇺

AP+ launches ConnectID

ConnectID is officially live! Commonwealth Bank and NAB customers around Australia can now verify their identity simply & securely with ConnectID at participating organisations.

ConnectID, which will allow companies to tap banks for information about customers rather than gathering it themselves, minimising the risk of another Optus-style attack.

The development of “reusable digital identity”, also known as “identity-as-a-service”, will become an incremental revenue stream for banks by allowing them to charge merchants and customers to validate an account holder’s age, or other identity information.

What is ConnectID?

ConnectID is a new, secure way to verify your customers’ identity. ConnectID acts as an identity exchange offering a simple and secure way for your customers to prove who they are, using an organisation they already trust. It comes from Australian Payments Plus (AP+), AP+ brings together eftpos, BPAY and NPP Australia as one organisation to shape the future of payments.

Customers will be able to use a trusted institution, like their bank, to verify themselves and share their data directly with your business via a secure API. ConnectID does not see or store your customer’s personal information at any time.

Learn more →