Zepto and the Parliamentary Innovation Showcase

Zepto was privileged to be a part of the Tech Council’s Parliamentary Innovation Showcase, and I was thrilled to have some of the Zepto team join me in the nation’s capital for the event. Now that the dust has settled, I thought I would capture some of my reflections and thoughts on what excites me about the future for the Australian tech and payments industry. 

The Showcase was a brilliant day of inspiring encounters, important conversations, and deepening the connections between the tech industry and government. A standout for me was the incredible energy in the room – tech companies big and small were passionately sharing their innovations, insights and visions. There was a genuine sense of camaraderie, not of competition. Collectively we are committed to growing Australia’s Tech industry - not only to create more jobs, but to innovate, problem solve and make a difference to our country. 

We welcomed the opportunity to meet with a number of Parliamentarians including Stephen Jones [Assistant Treasurer and Minister for Financial Services], Andrew Bragg [Senator for New South Wales], independent Dr Sophie Scamps MP, our very own local member for Richmond, the Hon Justine Elliot MP, and the Hon Ed Husic MP [Minister for Industry and Science] who launched the 'Getting to 1.2 million Tech Jobs' report – a collaboration between Tech Council members, and members of the Digital Engagement Forum in partnership with the Digital Skills Organisation and Accenture Australia.

The report sets out Australia’s tech needs, and how government and industry can help more people to move into these well-paid, secure, flexible jobs, and it can be downloaded HERE.

Minister Husic summed it up nicely when he said in his address, “Making a buck is one thing; making a difference is another… one of the great things that I admire about the Tech Council since it's been formed, is that you've brought people together and you're out there making the case that tech is really important to the economy and the community.” 

Whilst in Canberra, our CEO Chris Jewell and I also met with the Payments and Financial Innovation Branch at Treasury. 

Given our unique position as the first non-bank fintech approved to connect directly to the New Payments Platform (NPP) as a ‘Connected Institution’, and the first non-bank payments provider Accredited Data Recipient under the ACCC’s Consumer Data Right (CDR), Zepto is well placed to provide valuable insights to Government. Like an icebreaker, we have carved a new path for other fintechs to safely follow and collectively innovate and change the way Australians pay. 

The Australian Government has invested greatly in building our world class payment infrastructure and CDR framework. Now we need to work collectively across Government and industry to leverage these to create meaningful use cases that not only improve the way Australians pay for things but also enhance the velocity of money through the economy. It is so exciting to think that we are creating the foundation for new possibilities around payment experiences aligned to efficiency and simplicity for consumers and businesses that will ultimately drive the economy of the future.

According to ACI Worldwide's "Prime Time for Real-Time Global Payments Report", Australia recorded 970 million real-time transactions in 2021 resulting in estimated cost savings of $205 million for businesses & consumers - which helped to unlock $US932 million of additional economic output, representing 0.06% of the country's GDP.

Given the current economic pressures, now more than ever cashflow for businesses and avoiding unnecessary surcharges and debt is paramount for Australians. Zepto is passionate about delivering world class payment innovation and reliability – to enhance the velocity of money in the ecosystem. 

At Zepto we are working with Government and industry to shape payment reform and drive awareness and adoption of new methods for payments that will provide convenience for Australian consumers and opportunities for businesses. 

We congratulate the Tech Council of Australia on a stellar first year in operation. We are proud to play our role as an active member, and look forward to being part of the journey from here long into the future. 

The Tech Council is the trusted voice of the Australian technology industry, and advocates for the conditions tech companies need to grow, attract investment, and create jobs across a range of critical Australian industries. It is committed to shaping Australia’s digital future.

Enormous thanks must go to Kate Pounder, Tom McMahon, Jacqui Murkins, Anita Dawson and the entire TCA team for bringing this incredible event to Canberra’s halls of influence.