The biggest question we get: how do you get merchants to adopt a new card?
The answer: we don't have to. EMV handles distribution for us.
How Card Routing Works
When you tap a card at a terminal, the terminal reads the card's IIN (first 6-8 digits) and looks it up in a routing table maintained by the acquirer (the merchant's payment processor).
Visa's IINs start with 4. The acquirer's routing table says: "IIN starts with 4 → route to Visa network."
Adding OpenPasskey
We have our own IIN from ISO. When an acquirer adds our IIN to their routing table:
- Every terminal they manage instantly recognizes our cards
- Merchants don't install anything
- Merchants don't sign anything new
- The terminal just works
This takes approximately one day of configuration.
Why Acquirers Would Do This
Acquirers make money on the merchant service fee (typically 1-2.5% including interchange). With OpenPasskey:
- No interchange to pass through (they keep more of the fee, or offer lower rates)
- Instant settlement reduces risk (no 2-3 day float)
- Differentiation in a commoditized market
For acquirers competing on price (Tyro, Zeller, Square in Australia), offering a zero-interchange card network is a compelling feature.
The Numbers
Australia has several major acquirers:
- Tyro (~80,000 merchants)
- Zeller (growing fast in SMB)
- Square/Block
- Airwallex
- Novatti
- The big four banks
One acquirer partnership = instant access to their entire merchant base.
Current State
3,200+ users across 20+ Sydney cafes on our direct integration. The acquirer distribution path scales this to tens of thousands of merchants per partnership.
Blackbird Giants Cohort 11. Base ecosystem grant. Zero external funding.
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