Change Financial Limited provided the following update on its Vertexon Payments as a Service (PaaS) Platform and card issuing offering in Oceania. Issuing Capabilities Update. As a result of the Mastercard Principal Membership for Australia, Change has now successfully completed the majority of the necessary regulatory and Licensing requirements to enable card issuing in NZ, Australia and the US.

The table below outlines the current status of the key licences and certifications for these jurisdictions. The deliverables shaded green indicate what has been recently completed. Change is now targeting to complete the two remaining items shaded orange in first quarter of fiscal year 24.

The Vertexon PaaS Platform in Australia is now undergoing Mastercard technical certification which will enable live card issuing. This process has been recently completed for the Vertexon PaaS platform in NZ and is substantially similar in Australia. Upon completion of the two remaining items, Change will be able to issue debit and prepaid cards in NZ, Australia and the U.S.