Two Stone & Chalk fintechs have teamed up to launch a new way for Chinese Australians to pay their bills – directly inside a popular Mandarin-language news app.
Stone & Chalk residents Gobbill and AirPay FinTech have partnered to embed Alipay and WeChat Pay into the Today Australia app.
The result is ToPay, a new bill payment feature that lets more than one million users pay Australian bills using the payment methods they already trust and use every day.
For users, it’s simple and familiar. For merchants and media companies, it opens up a brand-new channel to reach high-spending Chinese Australian audiences.
What each partner brings to the table
Gobbill is a payment automation and fraud detection service that helps households and small businesses save time, improve cashflow, and stay protected from scams.
AirPay FinTech provides QR-based payment and marketing tools for merchants, covering everything from in-store point-of-sale to online platforms like Shopify.
By combining their strengths, the two fintechs created ToPay. But this product goes far beyond bill payments. Users can also receive rewards, including discounted meals from the popular Asian food delivery platform Hungry Panda.
An idea born from everyday conversations
The partnership grew naturally through conversations between Gobbill’s CEO Shendon Ewans and AirPay FinTech’s Head Simon Tse at Stone & Chalk.
“Shendon introduced us to Stone & Chalk two years ago and afterwards AirPay moved in and began to grow as a resident. Shendon and I were always thinking about how to build a fintech product between AirPay and Gobbill,” says Tse.
“We used to catch up with each other in the common area and share news in the fintech space. We’ve also attended different Stone & Chalk workshops over the past two years, to share our insights with one another and discuss business opportunities. We have supported and encouraged each other, which has built the relationship between our fintechs.”
Gobbill CEO Shendon Ewans agrees. “Although we wanted to have Chinese payments years ago, finding the right partner and timing to do it was really a result of those tearoom conversations and meeting AirPay at Stone & Chalk,” he says.
“Whereas we were at first watching each others’ companies from afar, discussions soon moved to a collaboration to combine technologies tapping into the market of Chinese Australian media consumers."
A new channel for merchants and media
Tse believes ToPay will become a powerful way to connect Chinese consumers with Australian merchants.
“It gives AirPay merchants access to over a million users,” he says. “Customers can easily see promotions inside the app, and merchants can communicate directly with them.”
It also opens new doors for AirPay beyond its existing retail partners, which include luxury brands like Gucci, Rolex, and Paspaley, as well as fashion and sportswear retailers such as Sneakerboy, Off-White, Champion, and Glue Store.
New partnerships offer path through slowdown
Both founders acknowledge the challenges fintech startups face during COVID-19, from funding pressure to slower customer growth.
“It is a harsh time for fintech start-ups, especially around getting funding, managing cashflow and controlling overhead,” says Tse.
"It is challenging to get new customers, as many businesses will slow down or even shut down over the next couple of months. But it is also a prime time to understand your customers’ needs and help customers to come through this challenging period together.”
Ewans sees partnerships like this as part of the answer.
“I would encourage others to look at partnership opportunities where you can pivot or grow new revenue streams. Now's the time to do this because other fintechs are also thinking ‘what do we do now?’. If you are able to put two capabilities together and you're able to tap into a new market, this is the right place to do it.”
The power of community
Stone & Chalk General Manager Annie Le Cavalier says the collaboration is a clear example of the network’s impact.
“This collaboration is one example of the value that our Impact Network delivers."
The merits of a supportive community shine through in challenging times like this.
There’s been no shortage of stories of our founders supporting each other, sharing knowledge, networks and resources and ultimately standing stronger together.
Find out how you can get involved.
