- Australian payments processor Fat Zebra has acquired Sydney-based Adatree, a platform for the Australian Consumer Data Right (CDR).
- Adatree’s platform allows companies in various sectors to access and leverage open data, and it is accredited as a data recipient by the Australian Competition and Consumer Commission (ACCC).
- The acquisition aims to combine Fat Zebra’s payments platform, serving 30,000 merchants with 250 million e-commerce transactions annually, with Adatree’s CDR-compliant open data capabilities.
- Fat Zebra’s CEO, Pred Dragila, sees open data and open payments as the future of the financial landscape, and the acquisition positions the company to drive smarter, data-driven payments in Australia.
- The acquisition was completed in December, with the entire Adatree workforce joining Fat Zebra. Financial details of the deal have not been disclosed.
- The move anticipates the development of CDR’s Action Initiation, enabling businesses to move beyond read-only data access to write access data, allowing services like payment initiation and account openings through API interfaces.
