Draft:EzyRemit
Australian remittance fintech company
From Wikipedia, the free encyclopedia
EzyRemit (formally EzyRemit Worldwide Pty Ltd) is an Australian financial technology company that provides international remittance and cross-border payment services. Founded in 2020 and headquartered in Bankstown, Sydney, the company operates offices in seven countries and facilitates transfers to more than 140 countries.[1][2] EzyRemit reported revenues of A$127 million for the 2022–2023 financial year and was ranked 60th on The Australian Financial Review's 2023 Fast Starters list.[3][4]
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| Company type | Private |
|---|---|
| Industry | Financial technology, Remittance |
| Founded | September 23, 2020 |
| Founders | Allan Nguyen, Quoc Ngo |
| Headquarters | Bankstown, Sydney, Australia |
Key people | Allan Nguyen (CFO), Quoc Ngo (CEO) |
| Services | International money transfer, cross-border payments, education payments, business payments |
Number of employees | 70+ |
| Website | ezyremit |
History
Founding (2020)
EzyRemit was founded in Sydney in 2020 by Allan Nguyen and Quoc Ngo. Co-founder Allan Nguyen, originally from Vietnam, studied in Germany before moving to Australia, where he completed a degree in accounting at Western Sydney University.[5] Prior to founding EzyRemit, Nguyen established Allan & Co., a business consulting and accounting firm that provided advisory services to Vietnamese entrepreneurs in Australia and Australian corporations operating in the Vietnamese market.[5]
The company was initially established to address the remittance needs of the Vietnamese diaspora in Australia, focusing on international students and corporate clients requiring regular international commercial payments.[1][5] Quoc Ngo served as chief executive officer, drawing on his background in information technology and systems engineering.[4] The entity was registered as an Australian private company on 23 September 2020.[6]
Early expansion and government support (2021–2022)
During its initial phase, EzyRemit received strategic export support from Investment NSW, the economic development agency of the New South Wales government, which facilitated introductions to international financial partners and supported the company's participation in international trade events.[1] The company's mobile application was launched in September 2021, and a Vietnamese-language version of the payment portal followed in July 2022.[7]
In April 2022, EzyRemit signed a partnership agreement with Sacombank-SBR, the remittance subsidiary of Sacombank, to facilitate remittances from Australia, the United States, New Zealand, Japan, and Canada to Vietnam.[7] In late 2022, EzyRemit participated in the Singapore FinTech Festival as one of 39 Australian companies forming the "Team Australia Landing Pad" delegation, co-facilitated by Austrade, Investment NSW, and FinTech Australia.[8] During the event, Austrade facilitated introductions between EzyRemit and the Canadian Trade Commissioner, which contributed to the company's subsequent expansion into the North American market.[4] The same year, EzyRemit was named a finalist in the "Excellence in Establishing Market Presence: Global" category at the Finnies Awards 2022, an annual competition organised by FinTech Australia.[9]
Strategic partnerships and industry recognition (2023)
In July 2023, with support from Austrade, EzyRemit signed a memorandum of understanding with Vietcombank Remittance, a subsidiary of the bank which is majority owned by the State Bank of Vietnam.[10][4] Vietcombank maintained a network of over 600 branches and transaction offices domestically, with correspondent banking relationships in 87 countries.[10]
In November 2023, EzyRemit signed a memorandum of understanding with Indonesian digital payment provider Faspay at the Singapore FinTech Festival, an introduction facilitated by Austrade.[4][8] For the 2022–2023 financial year, EzyRemit reported revenues of A$127 million. The company was ranked 60th on The Australian Financial Review's 2023 Fast Starters list, which tracks the fastest-growing Australian companies in operation for fewer than five years.[3][1]
International expansion (2024)
In 2024, EzyRemit opened a representative office in Tokyo, targeting the Vietnamese community in Japan which had exceeded 430,000 individuals as of 2022.[2][11] In July 2024, Anoulack Chanthivong, New South Wales Minister for Industry and Trade, visited EzyRemit's Ho Chi Minh City office.[12]
In November 2024, EzyRemit relocated its headquarters to the Flinders Centre in Bankstown, coinciding with the company's fourth anniversary. The event was attended by Minister Chanthivong and representatives from Investment NSW and Global Affairs Canada.[2][13][14]
Global scaling (2025)
In early 2025, EzyRemit expanded its partnership with Sacombank-SBR to the Canadian market.[11][15][16] In July 2025, EzyRemit announced a partnership with Singapore-based Thunes to expand real-time payouts across more than 45 countries.[17][18]
Services
EzyRemit provides international money transfer services through its web platform and mobile application.[17] The company operates several service modules: personal money transfers, business payments, and education payments.[1] The company also operates EzyTravel, a digital wallet for travellers making payments within Vietnam.[9]
Delivery methods
EzyRemit supports delivery methods including bank account transfers, mobile wallet deposits (including VNPTPay and ZaloPay), payment card transfers, cash pickup, and cash delivery.[17][19]
Payment technology
In partnership with Monoova, EzyRemit implemented PayTo for Australian customers, enabling real-time bank-to-bank transfers via the Reserve Bank of Australia's New Payments Platform.[20]
Operations
EzyRemit operates offices in Australia, New Zealand, Vietnam, Japan, Canada, the United States, and the United Kingdom.[18][11] The company employs over 70 staff members globally.[1] The company is registered in Australia under ACN 644 564 821.[21] EzyRemit holds a registered trademark in Canada.[22]
Regulation
EzyRemit is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a remittance service provider and regulated by the Australian Securities and Investments Commission (ASIC).[21][23][24] In Canada, the company is registered as a money services business with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).[16]
