How Smartpay’s FY25 Growth Fuels Its Trans-Tasman Payments Ambition
Smartpay Holdings Limited posted solid FY25 financials with revenue surpassing $104 million, driven by Australian market gains and promising New Zealand pilot progress. The company is advancing its trans-Tasman payments strategy amid regulatory developments.
- FY25 revenue reached $104.7 million with EBITDA of $16.6 million
- Australian acquiring business shows strong growth and market share expansion
- New Zealand acquiring pilot launched with positive merchant feedback
- Strategic partnership for bundled POS/payment solutions set for FY26 rollout
- Awaiting New Zealand Commerce Commission decision expected by July 2025
Strong Financial Performance Anchors Growth
Smartpay Holdings Limited has reported a robust financial year ending March 2025, with revenue climbing to $104.7 million and EBITDA reaching $16.6 million. This performance reflects continued momentum in its Australian acquiring business, where the company has expanded its transacting terminals to over 20,500 and processed transactions valued at nearly $7 billion. The average revenue per terminal also rose, underscoring effective customer engagement and retention strategies.
Advancing the Trans-Tasman Payments Vision
Smartpay’s strategic plan unfolds in three stages, with the first focusing on Australian market maturity and the second aligning New Zealand operations. The company has made significant strides in New Zealand, launching a pilot for its acquiring product featuring a new Android-based terminal. Feedback from merchants has been notably positive, highlighting ease of use and aesthetic appeal. This pilot aims to convert a substantial portion of the existing 31,000 New Zealand terminals over the next three years, potentially multiplying revenue per terminal tenfold compared to legacy systems.
Regulatory Environment and Market Opportunity
Smartpay is preparing for a pivotal regulatory decision from the New Zealand Commerce Commission, expected by the end of July 2025. The Commission’s review proposes a significant reduction in the cost of card acceptance, which could enhance Smartpay’s competitive position and open new avenues for customer acquisition. The company plans to align its marketing and sales launch with the implementation of this decision, anticipated to begin in December 2025.
Innovative Partnerships and Product Bundling
Looking ahead to FY26, Smartpay has executed a strategic white-label partnership to deliver a comprehensive point-of-sale and payment solution tailored for hospitality, retail, and service sectors across Australia and New Zealand. This bundled offering, currently in pilot phase, is designed to provide small and medium businesses with an integrated ecosystem of tools, reinforcing Smartpay’s position as a preferred payments partner in the trans-Tasman region.
Operational Integration and Team Synergies
Smartpay continues to unify its Australian and New Zealand operations under a one-team, one-organisation model. This integration spans sales, onboarding, logistics, finance, risk, and technology functions, creating powerful operating leverage potential. The rollout of a common technology platform, including the new PAX Android terminals, supports this consolidation and future-proofs the company’s infrastructure.
Bottom Line?
Smartpay’s FY25 results set the stage for accelerated growth, but regulatory outcomes in New Zealand will be critical to unlocking its full trans-Tasman potential.
Questions in the middle?
- How will the New Zealand Commerce Commission’s decision impact Smartpay’s pricing and market share?
- What is the expected timeline and scale for converting New Zealand terminals to the new Android platform?
- How will the strategic POS/payment bundle partnership influence Smartpay’s competitive positioning in FY26?
