Payble

About

Payble provides an open-banking payments workflow and customer-engagement platform that verifies funds, offers flexible instalments and payment extensions, and automates billing collections for utilities and local governments.

Mission

Payble offers payments workflow and customer engagement software designed to help local governments increase on-time payments, reduce administrative burden, and improve community satisfaction. Its citizen-centric solution allows ratepayers to shift from large annual or quarterly bills to flexible weekly or fortnightly payments at no extra cost, and to extend or skip payments without paperwork. The product aims to improve council cashflow and save staff time by reducing billing-related work. Payble is focused on its beachhead segment of local government payments while exploring opportunities for global expansion. The company closed a $3.5 million funding round to capitalise on strong demand and support growth. Payble is an Open Banking platform that identifies consumers who would benefit from flexible payment options and engages them with solutions such as instalment plans, payment extensions, or Covid relief. The company initially targeted the energy sector, completed a commercial trial with an energy retailer and signed that retailer as its first customer. Payble says its proactive approach improves customer satisfaction for billers and significantly reduces the admin and operational cost of collections. It expects to launch its platform in the coming months and is pursuing CDR accreditation with the ACCC, having participated with founding shareholder Identitii in the ACCC’s 2019 testing program. The team reports early commercial traction and is rapidly accelerating its commercialisation and go-to-market strategy. Financially, CBA’s x15ventures has been a lead backer, with x15’s total commitment at $1.85 million following a further $700,000 investment. Payble is a fintech built on open banking that verifies appropriate funds are in consumers' accounts before bills are due to reduce late or failed payments. The company is described as a subsidiary of regulatory compliance fintech Identitii and will build on Identitii’s participation in the consumer data right trial. Payble's platform aims to help consumers stay on top of incoming bills and payments and to cut the costs billers face from failed or late payments. CBA’s X15 Ventures has made a $1 million minority share investment to fast‑track Payble’s growth; X15 will hold a 26.7% stake. X15 previously invested $150,000 under a memorandum of understanding signed in December to fund a commercial trial with an in‑market merchant. Payble has appointed CBA general manager Chris Austin to its board alongside founding directors John Rayment and Elliott Donazzan; X15 will not directly use Payble’s technology but hopes to collaborate on market strategy and scaling within CBA.

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