The Albanese government is considering when to turn ‘screen scraping’ off.
Fat Zebra and Adatree will bring payments and data sharing together.
As deals go, it was a small one. Fat Zebra, which helps companies take card payments, last week acquired Adatree, a fintech building technology for the government’s consumer data right. The price was undisclosed, and is in the tens of millions of dollars.
But, despite the largely unknown players and meagre consideration, the strategic rationale for the purchase was significant. Fat Zebra, which counts Macquarie and Zip among its 30,000 customers, has placed a big bet that the struggling CDR might still take off.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
