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Fighting For All Retailers and Every Consumer

Innovation is a powerful force. When a company creates a new technology that helps consumers do something quicker, easier, and cheaper—everybody wins.

October 13, 2020

Innovation is a powerful force. When a company creates a new technology that helps consumers do something quicker, easier, and cheaper—everybody wins.

While the traditional banking system and big technology companies have made significant contributions to our society, we believe that when oligopolies emerge, it’s often time to rebalance the scales. After all, innovation is most powerful when it supports healthy competition and empowers everyday consumers.

In this piece, we explore fintech innovation, analyse the growing challenge from big tech, and then introduce a new tool that empowers all retailers and every consumer.

YouPay a safe, secure and free way to let someone else pay for you. It’s like Amazon’s Wish List, but available to all retailers—regardless of the platform they use.

Fintech is a force for good

Since the financial crisis, much attention has been given to the ethics of Wall St. Scrutiny of the financial system extends far beyond bankings most famous street. As the Australian Government Productivity Commission reported, “Australia’s banking sector is an established oligopoly.”

Given that fintech is an extension of traditional finance, you may expect it has the same flaws. In reality, it’s the exact opposite. Fintechs are making the finance system faster, easier to use, and more affordable.

In Australia, we have many fintechs that are a force for good:

  • Judo Bank is a challenger bank dedicated to serving small and medium sized enterprises.
  • Athena has already saved customers over $70 million over the life of their home loans.
  • Airwallex enables low-cost, high-speed and transparent international collections and payments.
  • Sempo builds inclusive infrastructure and has worked with NGOs, including Oxfam and Mercy Corps.
  • Up is a mobile-only bank that doesn’t charge monthly account keeping fees.

The positive impact isn’t only present in Australia. Innovative fintechs are challenging oligopolies by empowering everyday consumers across the globe, especially in the underbanked populations of India, Kenya, and Brazil.

Big tech is challenging fintech

Fintech still offers a huge opportunity. While this is exciting for entrepreneurs building innovative fintechs, financial technologies have captured the attention of big tech companies. They have the talent, capital, and infrastructure to compete—and dominate.

Big tech has charged into the fintech space. Google has Google Pay, Apple has partnered with Goldman Sachs, and Facebook tried to launch its own currency. Even Amazon is becoming a finance company. Last year, it lent $1 billion to the entrepreneurs who sell their goods on the company’s site.

Moreso, Amazon already has incredible market power. Beyond Amazon’s growing eCommerce monopoly, they have AWS and Alexa. Furthermore, they own Whole Foods, Twitch, IMDB, Zappos, and Audible. Not to mention, Jeff Bezos owns The Washington Post.

Traditional finance’s oligopoly is slowly being eroded by innovative financial technologies. However, with the emergence of big tech in the fintech space, we may be swapping one oligopoly for another.

Should fintech fight back?

Initially, fintechs captured market share from powerful financial oligopolies by building technologies that provided consumers faster, easier-to-use, and more affordable services. Is it time for fintechs to apply the same strategy against big tech?

Consider Amazon Wish List. It’s much like a gift registry, where users can add any item on Amazon and share it with friends and family. For example, a daughter can share a Wish List of school supplies and her Mum can pay for them. It’s a great tool. However, it’s only available within Amazon’s ecosystem.

What if there was a way to leverage this idea—but instead of it serving a big monopoly—it served thousands of smaller retailers? Well, that’s why we created YouPay.

An Amazon Wish List for every store

YouPay a safe, secure and free way to let someone else pay for you. The key difference between Amazon Wish List and YouPay is that every retailer can use our tool. You don’t have to be part of Amazon’s oligopoly.

Here’s how YouPay works, with the same example of a Mum paying for her daughter’s school supplies:

  1. Daughter (recipient) adds school supplies to her online shopping cart.
  2. She selects YouPay as her payment option during checkout
  3. She sends the link to Mum (payer).
  4. Mum checks the link and pays for the school supplies.
  5. Retailer (seller) ships the school supplies to the daughter.

In fact, you will even be able to use YouPay in a brick and mortar business. We support all retailers to compete with Amazon and the growing big tech oligopolies.

In a time where oligopolies and monopolies are gaining power, YouPay’s technology supports a competitive marketplace that benefits consumers. If you’re a retailer, see how you can increase sales.

More insights

& research

YouPay wins at WeMoney Business Awards

YouPay has been awarded Best Innovation in Merchant Experience and a second-place finish in Merchant Payments Provider of the Year at the 2022 WeMoney Business Awards.

My Room and YouPay launch YouPay Giving

My Room has partnered with YouPay to let cancer-affected families shop online and donors pay for their orders at the checkout.

YouPay officially launches cart sharing for US ecomm stores

YouPay, the world first cart sharing app to be approved on Shopify today announced the launch of its cart sharing app into the US market.

Become a YouPay merchant​

& double your sales​

Do you want to offer YouPay to your customers? Get in touch today.

Terms & Conditions

YouPay Valentines Day 2023 Promotion Terms & Conditions:

  • The ‘Promoter’ is YouPay Pty Ltd (ABN 70 644 120 990) of registered office address: 15b 10 Old Chatswood Road, Springwood QLD 4127, Australia. Promotion ends 16.10.22 at 2359 AEST.
  • Employees of the Promoter, their family members or anyone else connected in any way with the competition shall not be permitted to enter the promotion.
  • YouPay carts generated between 0900 AEST 30 January, 2023 and 2359 AEST 14 February receive entries into the Promotion.
  • The recipient of the prize is the person who created the YouPay cart, the ‘Shopper’.
  • For Shopper to receive an entry, the cart must be paid for.
  • The number of entries a Shopper receives is as follows:
    • Pink Kimberly: 100 entries
    • Beserk: 10 entries
    • Honey Birdette: 10 entries
    • Edible Beauty: 10 entries
    • Playful Promises: 10 entries
    • Secret Bottle: 10 entries
    • Grazing Lane Sweets: 10 entries
    • All other merchants that offer YouPay: 1 entry
  • Prizes are listed at
  • The number of entries a Shopper accrues increases their likelihood of winning.
  • Winners are drawn randomly and there are no guarantees that a large number of entries will automatically win you a prize.
  • Prize winners will be drawn at automatically at 15b 10 Old Chatswood Road, Springwood QLD 4127.
  • Announcement of winners: Winners will be notified by email within 3 days of the prize draw. If a prize winner cannot be contacted or does not claim a prize within 28 days of the prize draw after multiple attempts of communication, the Promoter reserves the right to redraw the prize and allocate a new prize winner.
  • The Promoter reserves the right to cancel or amend the competition and these terms and conditions without notice in the event of a catastrophe, war, civil or military disturbance, act of God or any actual or anticipated breach of any applicable law or regulation or any other event outside of the Promoter’s control.
  • The Promoter reserves the right to investigate entries that appear to be fraudulent. Winning entries found to be fraudulent will be ineligible to claim their Prize and reassigned to the next eligible entrant.
  • The Promoter is not responsible for inaccurate prize details supplied to any entrant by any third party connected with this competition.
  • No cash alternative to the prizes will be offered. The prizes are not transferable.
  • Any personal data relating to winners or any other entrants will be used solely in accordance with current Australian data protection legislation and will not be disclosed to a third party without the entrant’s prior consent.
  • Prize winners agree to have their name published in a digital capacity as part of the Promoter’s competition winner announcements.
  • This promotion is in no way sponsored, endorsed or administered by, or associated with, Facebook, Instagram, Twitter or any other Social Network. You are providing your information to the Promoter and not to any other party.

YouPay Wish Lists

all your carts in one place​

Fill your cart

at any YouPay store

Tap the YouPay button to create a shareable cart that’s automatically added to your YouPay Wish List.

Activate your list

to start sharing

Tap Activate your wish list or head to to access your unique, shareable YouPay Wish List.

Share your list

you shop, they pay

Get the items you want and make gifting simple by building and sharing your YouPay Wish List today.

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