Banked, the Bank of America-backed online payments startup, has acquired Australian payment tech firm Waave. CEO Brad Goodall is urging big US brands to embrace account-to-account (A2A) payments to drive mainstream adoption.
- Waave Acquisition: Banked acquired Australian payment tech firm Waave in an all-share deal worth millions. The acquisition strengthens Banked’s presence in Australia, partnering with Chemist Warehouse to offer pay-by-bank services.
- Push for A2A Payments: A2A, or pay-by-bank, allows direct payments from bank accounts, bypassing traditional card networks.
- Big Brand Support: CEO Brad Goodall believes A2A payments need the backing of major brands to become mainstream in the US.
- Banked’s Global Reach: Banked operates across the US, UK, EU, and Australia, using a single platform to streamline its services.
- Investor Support: Banked is backed by Bank of America, Edenred Capital Partners, and Acrew, securing the financial support needed to expand its A2A solutions globally.
With the Waave acquisition and increasing brand adoption, Banked is poised to lead the global charge in A2A payments. As more major players like Walmart come on board, the pay-by-bank model is set to reshape the US payments landscape.
