In 2006 the Founders of the Payment Adviser Group invented a process that allows unlimited data about payments to be communicated to the receiver of the payment via the security of the receiver’s bank account. The data is accessed by a short form URL (no www or .com.au) displayed in the reference field on their bank statement.
Patents for Asia covering the above process have been approved in Japan, China and are pending in Hong Kong and Singapore.
Patents for Western World have been approved in New Zealand, South Africa and are pending in USA, Canada, and Australia.
The Payment Adviser Groups business comprise ClickSuper, Payment Adviser and Bill Exchange.
The Payment Adviser Group operated its business through 2 unit trusts. This structure was not practicable for seeking admission to the Official List. As result, the Company was incorporated in March 2016 for the purpose of listing the assets and business of the Payment Adviser Group on the ASX.
The Company acquired the assets and business of the Payment Adviser Group in July 2016 under the terms of the Restructure Agreements.