NAB Acquires Banked for Faster Merchant Payments

National Australia Bank (NAB) has acquired FinTech firm Banked, aiming to enhance merchant payment processing speeds and reduce costs. Banked's innovative technology facilitates account-to-account payments and digital checkouts, streamlining the transaction process for both businesses and consumers. This strategic move by NAB is expected to improve customer experience by offering an alternative to traditional credit and debit card payments, positioning the bank to capitalize on the growing trend of direct payment solutions in the merchant services sector.