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Cuscal has been recognized by APAC CIOOutlook Magazine as the recipient of “Top FinTech Solution Companies,” based on our proprietary methodology, reflecting its position in the industry. This profile has been developed by the APAC CIOOutlook research and editorial team based on insights from an interview with Craig Kennedy, CEO.

Cuscal
A Leader in New Age Payment Solutions

Cuscal

,Craig Kennedy, CEO, CuscalCraig Kennedy, CEO
In decline for more than a decade now, the rate at which Australians are rejecting cheques and physical means of payment is accelerating as the digital economy takes hold. Australians, and consumers across the world, are embracing the convenience of contactless technology, which is contributing to the rise in card payments and mobile wallet services; the international card schemes estimate that more than 75% of face-to-face payments are ‘tap and go’. A recent consumer survey conducted by the Reserve Bank of Australia, shows that cards are now the most commonly used payment method for all transactions over $10.Cuscal an Australia-based payment services provider understands these shifting tides in the financial realm, and has carefully innovated various services that help both end-users and solution providers to best leverage the power of digital payments.

Cuscal has extensive experience in integrating new clients quickly and solving their technological challenges satisfactorily.


Cuscal’s mobile banking and payments solution allows clients and their cardholders to easily and securely manage their finances whenever they want. Cuscal’s app is Australia’s most advanced white-label offering and the company continues to develop, maintaining and improving the solutions in-house to make sure that they can respond quickly to new developments and movements in the market. The firm’s app works on both iOS and Android and is available with a client’s own branding and core banking system (CBS) integration. At Cuscal, the works hard to make sure their digital offering leads the market.
A mark of pride is that Cuscal’s clients were among the first financial institutions in Australia to be able to offer cardholders the choice of Android Pay, Apple Pay and Samsung Pay to conduct mobile payments.

Additionally, Cuscal is one of the financial institutions that established the New Payments Platform (NPP), Australia’s real-time payments system. As a long-time provider of innovative and reliable payment solutions, Cuscal has a deep understanding of the payments landscape along with strong industry relationships. Cuscal is helping more organisations to access the New Payments.

Platform than anyone else providing wholesale access to the NPP for over half of all financial institutions and all of the current payment service providers on the platform. This gives the organization both the experience and the expertise to connect clients to the NPP, no matter how large their business is or what their needs are.

“Cuscal’s app is Australia’s most advanced white-label offering and the company continues to develop, maintaining and improving the solutions in-house to make sure that they can respond quickly to new developments and movements in the market.”

Today more than ever, people want to be able to manage their finances whenever they have spare time, no matter where they are. This has made an institution’s digital offering increasingly important to its customers and a potential point of difference to give them a competitive edge. Understanding this, Cuscal’s mobile banking and payments solution allows clients and their cardholders to easily and securely manage their finances whenever they want. Cuscal’s ‘Pays’ solution is fully integrated with its mobile banking app and is also available via API. It aims to allow clients’ cardholders to register into each of The Pays to give clients the edge in the battle to remain top of the mobile wallet.

Cuscal offers a comprehensive range of specialist banking services including settlement, dispute resolution, reporting and reconciliation for all payment streams, accounting for 99% of non-cash transactions in Australia. The company also supports all of the prominent payment types: cheques, electronic funds transfer and direct debits, BPAY, debit and credit cards, real-time payments (NPP), ATMs, high value payments and PEXA property transactions. These services are complemented by the company’s comprehensive switching, fraud and compliance.

The organization’s aim is to make things easy for clients and maintain their core banking needs with Cuscal. The team achieves this by weaving different services together into one unified service, reducing complexity and points of contact and saving clients time and money. With over 120 clients, all with different needs, Cuscal has extensive experience in integrating new clients quickly and solving their technological challenges satisfactorily.
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Company
Cuscal

Headquarters
Sydney,Australia

Management
Craig Kennedy, CEO,

Description
Cuscal is the largest independent provider of payments solutions for the Australian financial services sector. For more than 50 years, they have provided our clients with innovative and reliable payment solutions. The company enables financial institutions, payment service providers, and other businesses to integrate New Payments Platform (NPP) services into their products and payment processes. Our NPP solution offers access to all the features of the New Payments Platform along with closed-loop payments through ‘On-Us’ processing. Additionally, they offer a flexible and modular range of support services, including fraud monitoring, card production and maintenance, scheme sponsorship, and BIN management.

2021

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