Banked, a leading global Pay by Bank provider, has acquired the Australian payment technology firm Waave to enhance its global push for real-time account-to-account payments. This acquisition positions Banked at the forefront of Australia’s Pay by Bank market and establishes a partnership with Chemist Warehouse, one of the country’s largest pharmacy retailers.
The purchase of Waave reflects Banked’s commitment to building a global network to meet growing demands in new markets. With Pay by Bank gaining popularity worldwide, evidenced by Walmart’s announcement to launch the solution in the United States, Banked is similarly bringing its advanced payment technology and consumer insights to Australia.
As part of the acquisition, Banked also inherits Waave’s existing collaboration with Chemist Warehouse, enabling the implementation of an efficient Pay by Bank system in both online and physical stores by early 2025.
