InPayTech has already acquired patents in several Asian countries including China, Japan and Hong Kong, with Singapore marking the last of the patents the company applied for in Asian markets.
InPayTech said it intends to launch in the Asian market following the Australian launch of its new PayVu initiative, designed to speed up the settlement process for electronic payments.
Domestically, InPayTech said it intends to “capitalise on government regulation”, including the Single Touch Payroll initiative being rolled out by the Australian Taxation Office, the New Payment Platform being introduced by the Reserve Bank and the Digital Business Council’s eInvoice initiative.
InPayTech also holds patents for its technology in South Africa and New Zealand, with patents also pending in Australia, Canada and the USA.
