Payble Saves The Day

Sydney, Oct 15: The extended lockdowns across Australia have witnessed a rise in utility consumption, and alongside the end of JobKeeper and Government assistance, many Australians are feeling the ‘pinch’ with a financial squeeze and pressure to ration their essential services. 
Compounded by a tsunami of bills piling up, people fear opening the bill and then the ultimate consequence of being disconnected. 
This then entices the consumer to turn to high interest-bearing cash loans from a proliferation of ‘pay-day lenders’ targeting consumers to keep their heads above water, which only compounds the situation and pushes people further into debt and adds to their ‘bill stress’ and anxiety.
Enter Payble to save the day, a new fintech platform that is empowering Australians to combat their “Bill Shock” through a smart app, reducing ‘billing stress’ and helping consumers to proactively co-ordinate and appropriately manage payments without the high cost. 
Payble fights for the best interest of the consumer, to ensure they can stay ahead of the bill curve, complete with the provision of intelligent reminders and flexible payment options. 
That is the Payble Solution.
If a consumer needs more time or a helping hand to make their bill payment, Payble will offer a range of solutions pre-approved by the biller, including fee-free instalment plans, bill smoothing or a payment extension. 
Payble wants to empower all Australians to make their payments on time, whilst also enabling those that need a helping hand to avoid falling into the high interest bearing, hidden cost trap of ‘pay-day lenders’, who further add to the ‘debt pandemic’ and financial stress being faced by Australians.
Co-Founder and Managing Director Elliott Donazzan, an innovator and passionate tech entrepreneur said the platform helps consumers avoid “Bill Shock.”
“Here at Payble we are all working hard, day and night, to be an innovator in the bill payments space whilst helping consumers stay on top of their bills.  
“During COVID-19 we’ve seen so many consumers turning to ‘pay-day lenders’ at an alarming rate, just to get by.
“We are now fighting this exploitation, giving consumers a choice and access to free and flexible payment options, supported by their biller, in one place. 
“Payble helps consumers manage their bills, either paying in full or accessing the flexibility for payments that they need.”
“All Australian telcos, utilities and councils must now offer alternative payment arrangements or hardship options if requested by the consumer, and at Payble we are all making it so much easier for consumers to access this flexibility in one place – the Payble app.
“These billers benefit from Payble too, since we lower their cost of processing these requests, and allow consumers to self-manage their payment schedules more easily – keeping calls out of the contact centre, and getting more bills paid.”  
“It has been reported that in the first two weeks of March 2021, 1,000 utilities were disconnected In Victoria. 
“The level of utility disconnection occurring will only enhance consumer hardship, and Payble is here to offer a solution against this avoidable plight being faced by Australians.”
“Given that the financial assistance from Governments is drying up fast, we want to ease the financial stress and anxiety on everyday Australians, helping them to stay on top of their bill payments.”
The ACCC’s latest Electricity Markets Report, shows that COVID-19 restrictions had significant impacts on electricity bills, with households using 10 per cent more electricity as people spent more time at home, and small businesses using 17 per cent less due to reduced onsite business activity.
Extended lockdowns in NSW and VIC are making it, “harder for the consumer and harder for the merchant.”

Payble. Supplied.
Payble key information. Supplied.
How Payble Works

The Payble Story So Far

Payble has been backed by the Commonwealth Bank of Australia (CBA), through its venture-scaling entity x15ventures with a $1 million share investment, backing their plans to use open banking as a way to help consumers and merchants avoid the financial and emotional costs of late and missed payments. Payble seeks to “prevent late or missed payments’ ‘ before they occur, to mitigate losses to both the consumer and the merchant alike using ground-breaking, easy-to-use software. 
Payble also recently strengthened their team, appointing former BPAY Head of Product and Customer Experience, Jon White, to lead Product and Strategy, bringing with him a wealth of experience in the digital financial services area.
Payble goes live on the Apple App Store and Google Play next week, initially featuring more than 200 of the largest billers on the platform with more added every week. 

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