SYDNEY, March 12, 2024 /PRNewswire/ -- Australia's leading B2B digital payments provider Monoova has strengthened its leadership team as the Australian digital payments market is set to soar to $240.75 billion in transaction value in 2024.

Monoova has made two senior executive appointments to support further growth initiatives. Recent strategic partnerships with Australia's newest airline Bonza, and payment orchestrator Primer, are examples of how the company is collaborating to offer new payments functionality to a broader market.

David Greene has been appointed as Monoova's new Chief Commercial Officer, tasked with driving commercial and marketing strategy, and dramatically scale operations. He brings 15 years' experience in the financial services sector and a wealth of payments-domain expertise, with leading roles in global business-development teams at April Solutions, Hyperwallet and PayPal prior to joining Monoova.

Formerly Head of Legal at Monoova, Shen Yin was appointed late last year to her new role as General Counsel and Company Secretary. She is responsible for legal matters as well as offering guidance to manage risk in the context of regulatory change as the company grows, including most recently the proposed payments licensing framework reform. She brings over 14 years' experience in the financial services industry having previously worked at other fintechs as well as Westpac, Baker & McKenzie and KPMG.

Monoova has been a pioneer in the payments industry since its inception, supporting clients and partners with the automation of account to account (A2A) transactions. Its solution set provides a single connection via API to A2A transactions, in addition to cross border transactions, and newly introduced card-acquiring capabilities.

With innovation at its core, Monoova was one of the first payment-services providers to launch real-time payments, and it is currently the largest facilitator of PayTo, the new, real-time payment alternative set to replace traditional direct debits.

Payments made in real time solve speed and transaction challenges faced by consumers and businesses. Bilateral communication through integrated information flows, instant payment confirmation notifications, and final settlement of payments leads to faster cash flows for business and a better payment experience.

With 92 percent of businesses and 82 percent of billers expecting to see customer-service levels increase as a result of real time A2A payments, the benefits of improved financial control, cash positioning, and liquidity management are now in reach.