RESEARCH & REPORTS
January 2025 — FinTech Australia Payments Report In Partnership with Mandala
Unlocking Growth: How Fintech Payment Solutions Empower Small Businesses
Key Findings:
Small businesses have gained $9 billion from fintech adoption—$8B in revenue growth and $1B in cost savings.
Over 30% of businesses reported revenue growth of over 2.5% after adopting a fintech payment solution.
More than half (56%) of small businesses now use fintech providers for in-person transactions, with a similar uptake (57%) in regional areas.
November 2023
EY CENSUS 2023
FinTech Australia has continued its successful collaboration with EY Australia to deliver this important piece of research. The Census remains the only detailed, industry-backed analysis of the Australian fintech industry, offering fine-grain detail about the industry’s increased maturity.
The eighth EY FinTech Australia Census finds more fintechs post-revenue than ever before, but challenges emerge for new entrants. A massive 88% of fintech respondents reported that they are post-revenue – the highest proportion recorded since the Census’ inception – and 43% are now turning a profit, compared with 30% last year. However, these positive findings are slightly tempered by the fact that the Census found significantly fewer younger companies in the fintech ecosystem. Just 3% are one year or younger, compared with 10% in 2022, suggesting that start-ups may be facing significantly higher barriers to entry than they were 12 months ago.
In brief
After a decade of being a focused government priority, Australia’s fintech sector is demonstrating growing maturity and record-breaking success.
But limited local capital, complex regulatory hurdles and overseas direct investment strategies are tempting success stories to focus their efforts offshore.
Modern digital regulation and reinforced support for start-ups would allow Australia to establish itself as a home to fintechs of the future.