Leading Australian financial technology company Novatti has announced the launch of Flexepin - a new e-wallet service that allows users to shop online without the need for a credit or debit card. Novatti said that Flexepin offers consumers a convenient and secure way to shop online without having to provide personal information or link accounts to personal credit/debit cards, thus reducing the threat of online fraud.
Flexepin codes can be purchased with cash in retail outlets such as shops, petrol stations or kiosks. The unique 18 digit code can then be used to pay directly on any website that accepts Flexepin transactions worldwide, or loaded onto prepaid cards and e-wallets maintained by Novatti.
The service will initially be launched at 14,000 locations across Canada followed by roughly 20,000 locations across Australia. The voucher – which contains a personal identification number (PIN) – can be purchased in denominations from $5 to $999 at local convenience stores. The company plans to launch services later this year in the UK, Germany, Switzerland, and Italy, with foreseeable plans for Flexepin in South Africa, Malaysia, Brazil, and India.
Novatti also provides mobile money and mobile banking platform to service providers.
Gregory Lee, CCO, Flexepin
Credit card fraud can happen to anyone. The ability to stop anyone from knowing where you spend your money and to protect your privacy cannot be achieved without using alternate methods of payments. We will ensure your privacy and safety while shopping online.
