Change Financial launches brands Vertexon and PaySim

  • Change Financial (Change) officially launches Vertexon and PaySim brands in Australia
  • Vertexon extends Change’s payments as a service offering into Oceania
  • Five of the top 10 digital payment companies1 use PaySim for their payments testing

Australian based global fintech, Change Financial (Change), which provides tailored  payment solutions, card issuing and testing to banks and fintechs today announced the official launch in  Australia of its payment’s brands:  

  • payments platform – Vertexon and
  • payment testing solution – PaySim.

Change currently manages and processes more than 16 million virtual, credit, debit and prepaid cards  worldwide, serving 146 clients in 41 countries. Clients include BDO Unibank, ME Bank and eftpos Australia. 

The pandemic has accelerated the digitisation of finance as the global appetite for ease and efficiency in  payments has increased for both the end customer/ user and provider. According to Roy Morgan’s Digital  Payments Report (26 October 2021) COVID-19 has had many impacts throughout the economy and one of  the most prominent is the increase in online retail sales. 

Change CEO Alastair Wilkie said: “Banks and fintechs can tap into immense opportunities by partnering with  Change from an integrated payment processing and card management perspective. Change can help  businesses to issue cards, digital wallets, BNPL services and access major card schemes like Mastercard,  VISA and AMEX. 

The speed, convenience, ease of use, increased security and the COVID safe nature of cashless payments has led to the FIS Global Payments Report prediction that Australia will be 98 per cent cashless by 2024. Today 90 per cent of Woolworths’ instore transactions, which captures more than 37 percent of the nation’s grocery spend, are made electronically.2 

The competition is fierce. Strong demand for cashless payments has seen the emergence of digital wallets,  and the rise of Buy Now Pay Later (BNPL). According to Federal Treasurer Josh Frydenberg3, approximately  55 million payments worth roughly $650 billion are made in Australia daily.  

Known for being simple, flexible and fast, with innovative payment solutions that have customisation, client  experience and service at their core, Change is building momentum in the Australian payments as a service,  or PaaS, space, leveraging its experience from the US market.  

Vertexon, helping accelerate growth and scale globally 

Change’s versatile payments platform Vertexon seamlessly integrates with a businesses’ core systems  enabling them to easily deliver physical and digital card solutions to their customers as well as offer other  features such as BNPL, transaction processing and integrated loyalty programmes. 

Vertexon’s payments technology provides software infrastructure that allows banks and fintechs to have a  sophisticated, quick to market, payments capability such as physical and digital cards, prepaid cards  (particularly popular in the US) as well as plug-in features like transaction processing, giving customers  access to all major schemes and loyalty programmes.  

It is this software as a service (SaaS) model that connects existing licensed banks with modern application  programming interface (API) driven businesses and allows the end customer to use eftpos, Mastercard, Visa,  and AMEX as well as connect to payment networks via Apple Pay, Google Pay, Samsung Pay.  

“Our payments technology enables clients to launch card programs with white labelled optionality in a cost effective manner, taking care of the operational, compliance and regulatory factors. Change can assist  clients enter new and competitive markets, their payment solutions power card programs around the globe,”  Mr Wilkie remarked. 

PaySim, accelerating speed to market 

With the predicted increase in cashless payments,4 particularly as we approach the Christmas end of year  shopping season, the need for payments testing for businesses is at an all-time high. Change’s PaySim tests  companies’ payments systems to ensure they meet the capability and performance expectations of its  customers by simulating the full transaction lifecycle, enabling companies to easily complete end to end test  of its payment platforms and processes.  

PaySim’s API enables clients to automate their testing functions and integrate with their testing and quality  assurance toolsets. 

Used by over 130 banks and fintechs across 30 countries, PaySim offers local and global banks and fintechs  the testing engine capability to help scale their businesses. It is also used to certify payment participants on  schemes, switches and local networks.  

In fact, five of the top 10 digital payment companies5trust PaySim for their payments testing and in Australia,  companies that want to join the eftpos network must use PaySim to certify their integration before connecting  to the local payments network.  

“PaySim reduces cost and risk by providing a faster path to market through comprehensive automated  testing solution and fraud protection for businesses by using robust testing processes that can simulate over  70,000 variations of switch types,” Mr Wilkie said. 

Change’s clients have access to a full suite of payments testing capability; built up over 15 years across  switches, POS devices and ATMs across schemes and technology. PaySim provides access to their  comprehensive card and instant payment testing capability through a cloud-hosted and modular solution,  with over 45 different modules. 

“I am genuinely thrilled with the success of PaySim as it highlights our commitment to the global payments  technology ecosystem and celebrates the innovation of our people and partners,” Mr Wilkie concluded. 


For media enquiries:
Sam Rockliff 
change@honner.com.au
0400 168 007 

Beccy Cambridge
change@honner.com.au
0418 681 310  


About Change Financial Limited 

Change Financial (Change) is an experienced global fintech, listed on the Australian Securities Exchange (ASX)  providing tailored payment solutions, card issuing and testing to banks and fintechs. Partnering with over 146 clients  across 41 countries Change delivers simple, flexible, and fast-to-market payment solutions.  

Managing and processing over 16 million credit, debit, and prepaid cards worldwide, Change also provides the default  standard for payments testing for many Australian companies, including Australia’s domestic card payment service  eftpos.  

Change’s payments platform Vertexon, seamlessly integrates with banks and fintechs’ core systems enabling delivery of  digital and virtual card solutions to their customers. It includes integrated features such as Apple Pay, Google Pay,  Samsung Pay and Buy Now Pay Later (BNPL) services.  

Using PaySim Change tests payment systems to help clients meet the reliability and performance expectations of end  customers. Simulating the full transaction lifecycle across multiple systems, PaySim enables banks and fintechs to  complete end-to-end testing of their payment platforms and processes from a desktop. 


Learn more about Change at www.changefinancial.com


  1. https://www.emergenresearch.com/blog/top-10-leading-digital-payment-companies-in-the-world 
  2. “Cashless Australia?: Woolworths transactions hit 90 per cent digital, bank withdrawals tank, Paypal surges,” Digital Nation, Tom  Duvall, 13 October 2021 
  3. The Australian Financial Review, 30 August 2021
  4. “Digital wallets poised to overtake contactless cards as instore payment of choice in Australia” Finextra, 19 May 2021
  5. https://www.emergenresearch.com/blog/top-10-leading-digital-payment-companies-in-the-world

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