2004 AWARDS ANNOUNCED

The 2024 Consensus FinTech Awards were announced and presented in early December. The very worthy winner was Hello Clever for their locally developed Real-time Payment Gateway with Embedded Loyalty.

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The winning Hello Clever team after receiving a 2024 Consensus FinTech Award

Hello Clever is a market leader in enabling Consumer-to-Business Real-Time Payments (C2B RTP) for businesses in Australia and APAC. By leveraging the speed and security of Real-Time Account-to-Account (A2A) payments, Hello Clever supports businesses from activation to adoption, improve cash flow and foster long-term customer relationships.   

Instant Cashback: Online and In-Store 

Hello Clever offers Instant Cashback for both online and in-store transactions. This feature drives customer engagement by providing immediate rewards after purchases, incentivising loyalty and repeat business. 

• Online Instant Cashback: Merchants can easily integrate Hello Clever’s plug-and-play solution to offer instant cashback on e-commerce platforms. This feature boosts conversion rates and encourages repeat customers by enhancing the shopping experience. 
• Australia’s First In-Store Instant Cashback: In partnership with Tyro, Hello Clever offers the first-ever in-store instant cashback in Australia. This innovation brings the benefits of online rewards to brick-and-mortar retailers, allowing customers to enjoy instant cashback when they shop or dine in person. 

Building Strong Customer Relationships 

Hello Clever’s Instant Cashback system helps businesses strengthen customer relationships by offering personalised rewards and exclusive deals, driving customer retention and encouraging new purchases. 

Conclusion 

Hello Clever’s real-time payment solutions and instant cashback offerings, both online and in-store, empower merchants to improve cash flow, reduce risks, and enhance customer loyalty. By combining cutting-edge technology with seamless integration, Hello Clever is reshaping the future of payments for Australian and APAC businesses. 

Judges Citation

Innovation

Hello Clever aims to innovate in the P2P payment space through a unique go-to-market strategy. Unlike earlier models (e.g., Venmo’s approach to merchant x consumer payments), which focused on building the consumer side of the P2P marketplace first, Hello Clever’s merchant-first approach is designed to offer substantial value to merchants through features like lower transaction fees, enhanced customer insights, and instant cashback incentives. This focus holds promise for market segments underserved by traditional players and positions Hello Clever well to capture market share in a competitive landscape.

The instant cashback model itself is not new (with players like Dot and Drop already in the market); however, combining this feature with a P2P platform and prioritizing merchant partnerships is an innovative approach for serving this market. Additionally, the decision to move from a points-based system to direct cashback reflects Hello Clever’s forward-thinking strategy and responsiveness to consumer demand.

Performance

The initial traction for Hello Clever indicates high growth potential. However, the judges noted that sustained consumer engagement will be key, especially as the current model prioritizes merchant-side growth. Ensuring a balanced growth strategy between merchants and consumers is essential for the platform’s long-term success.

It was clear to the judges that the value on the merchant side is strong – offering transaction savings, deeper customer insights, and increased engagement opportunities. However, the consumer side’s value proposition is currently concentrated on instant cashback, which may not be sufficient to maintain long-term engagement. Active user retention, rather than general app retention, should be a core metric for assessing the true strength of Hello Clever’s consumer offering moving forward.

Potential

The product shows substantial growth potential, particularly in the APAC region, where digital payment adoption is on the rise. Hello Clever’s hybrid approach, combining online and in-person merchant partnerships, offers multiple expansion pathways. Their focus on the under-35 demographic also demonstrates timely insight, as younger consumers increasingly turn away from traditional credit cards and look for instant rewards.

High-potential features, such as 1-click payments, were briefly mentioned, hinting at future opportunities to further differentiate the product. Expanding consumer-focused features could help deepen the platform’s appeal on the user side, complementing the existing merchant value.

Previous Winners of Consensus FinTech Awards

The 2019 Consensus Awards Winners with (back centre) Richard White, Founder & CEO, WiseTech Global and (front 4th from left) Julian (Jolly) Day Founder & CEO of Consensus.

The Consensus Awards were co-presented on 12th December by Richard White, Founder & CEO, WiseTech Global (Winner in 2004) and Julian Day, Founder & CEO, Consensus. Thanks to Phil Redding for MC’ing the event.