What Vault Payment Solutions does

Vault Payment Solutions is an Australian fintech founded in 2019 that provides a digital prepaid Mastercard platform for branded rewards, cashback campaigns, employee incentives and claim settlements. The company serves primarily enterprise brand clients across retail, telecommunications, beverage, fast food, energy, healthcare and government sectors, with 100+ named customers including Coca-Cola, Subway, KFC, Telstra, AGL, Cadbury, Lion, Sydney Airport and Sanofi. Its core product is the Vault Management Portal (VMP), a cloud-based delivery engine that issues digital prepaid Mastercards delivered to mobile wallets (Apple Pay, Google Pay, Samsung Pay), supported by a RESTful Enterprise API and SDK for programmatic issuance from client platforms, and a proprietary geolocation feature called Control Pay that restricts card spending by location, merchant category or time window.

The product portfolio includes Digital Prepaid Mastercards, Reloadable Mastercards, Virtual Corporate Cards, Physical Pre-Paid Cards, Direct-to-Wallet provisioning and Control Pay, packaged into solutions for Cashbacks and Promotions, Enterprise Claim & Customer Service, Corporate Trade and Staff Gifting, and Data and Insights. Vault operates as a card programme manager under an intermediary authorisation with Flexewallet Pty Ltd (AFSL 448066) and, in November 2025, secured Mastercard Principal Issuer status, a regulatory/credential upgrade that grants direct access to the Mastercard global network. In February 2026, Vault selected Thredd as its strategic issuer processing partner to support expansion into the United Kingdom and broader Australian product launches.

The company monetises primarily through transaction-based fees, including card issuance and programme management fees paid by enterprise clients, and consumer-facing cardholder fees such as monthly inactivity ($5.50), card replacement ($5.95), foreign exchange (2.99%) and disputed-transaction fees ($27.50). The go-to-market is a hybrid of API-first self-service integration, consultative enterprise field sales to brand managers and HR/finance teams, and channel partnership through Mastercard/Thredd for global processing reach. Vault is privately held, headquartered in Cremorne, Victoria, with 1–10 employees and no disclosed external funding rounds.

Name

Vault Payment Solutions

Legal name

Vault Payment Solutions Group Pty Ltd

Website

https://vaultps.com.au

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Vault Payment Solutions is an Australian fintech founded in 2019 that issues branded digital prepaid Mastercards to enterprise clients for customer rewards, cashback promotions, employee incentives and claim settlements, delivered via mobile wallets with API-based programmatic issuance.

Ownership category

akta.pro rank

Product category

Digital Payment Solutions

NAICS

Credit Card Issuing (522210), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199), Personal Credit Institutions (6141)

akta.pro primary industry

Virtual Prepaid & Single-Use / Tokenized Cards (FSAMANAJ)

akta.pro secondary industries

Virtual Card Issuance & Tokenized Corporate Cards (THACAJAA), Recurring Billing, Subscriptions & Tokenized Payments (CRAFALAH), Virtual Card & Tokenization Schemes (FSAMAAAG)

Keywords

• Digital prepaid cards
• Reward payment platform
• Corporate prepaid mastercards
• Cashback incentive solutions
• Mobile wallet payments

Headquarters

HQ city

Cremorne

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Card Issuance and Program Management Fees: Fees charged for issuing digital and physical prepaid cards, including program management and card issuance fees for businesses running reward and incentive programs.
2. Cardholder Fees: Fees paid by cardholders including monthly inactivity fee ($5.50), replacement card fee ($5.95), foreign exchange fee (2.99%), disputed transaction fee ($27.50), and manual funds transfer fee ($27.50).
3. Foreign Exchange Fees: 2.99% foreign exchange fee on transactions made in currencies other than Australian dollars, applied at prevailing Mastercard exchange rates.
4. Branded Reward Solutions: Revenue from providing businesses with customized digital branded Mastercards for customer engagement, loyalty, and employee reward programs.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Vault Payment Solutions issues digital prepaid Mastercard cards and operates a cloud-based payment platform that enables businesses to instantly deliver branded rewards, cashback incentives, and promotional payments to customers' mobile wallets. Their offering combines digital card products (reloadable, virtual corporate, physical), a Vault Management Portal (VMP) for operations, and an Enterprise API/SDK for automated issuance, with proprietary geo-location spending controls (Control Pay) for closed-loop campaigns.

Product overview

Vault Payment Solutions offers a digital prepaid card platform providing instant branded rewards via mobile wallets. The product portfolio centres on Digital Prepaid Mastercards (core product), Reloadable Mastercards for ongoing engagement, Virtual Corporate Cards for online payments, Control Pay with geo-location restrictions, Physical Pre-Paid Cards, and Direct-to-Wallet delivery without app downloads. These are supported by the Vault Management Portal (VMP) for operations and the Enterprise API for programmatic access. Solutions include Cashbacks and Promotions, Enterprise Claim & Customer Service Solutions, Corporate Trade and Staff Gifting, and Data and Insights. The company operates as Australia’s leading provider of secure mobile payments and is expanding internationally following Mastercard Principal Issuer status.

Differentiator

Problem solved

Functional benefit

Products and services

• Digital Prepaid Mastercards Digital payment cards loaded with funds and delivered via SMS, activated through the Vault app and added to mobile wallets (Apple Pay, Google Pay, Samsung Pay). Works anywhere Mastercard is accepted for tap-and-go in-store or online payments, for businesses running reward, cashback, and promotional programs.
• Reloadable Mastercards Prepaid digital Mastercard with the ability to be topped up with additional funds after initial issuance. Supports ongoing engagement, customer loyalty programs, employee expense accounts, and commission payouts for businesses.
• Virtual Corporate Cards Digitally generated 16-digit virtual card numbers with CVV and expiry date, optimised for secure online and over-the-phone payments. Features single-use protection, merchant-specific cards, real-time tracking, and spend controls for businesses.
• Control Pay Geo-location technology-enabled incentive solution that locks reward redemption to specific locations, time periods, or merchant networks. Enables brands to keep 100% of card transactions within their designated network for closed-loop campaigns.
• Physical Pre-Paid Cards Physical EFTPOS or Mastercard prepaid gift cards, fully customisable with brand branding. Load values up to $4999, valid anywhere eftpos/Mastercard is accepted.
• Direct-to-Wallet Digital Mastercard solution that can be added directly to Apple Wallet from SMS, website, or email without requiring users to download any third-party applications.
• Vault Management Portal (VMP) Central management platform enabling clients to control gift card dispatch, manage customer service, handle floats, and track card usage through a secure, easy-to-use interface with real-time reporting.
• Enterprise API RESTful API integration enabling businesses to connect their platforms to VMP for automated reward issuance, balance tracking, and card management with comprehensive visibility into funding balances and redemptions.
• Cashbacks and Promotions End-to-end cashback and promotional campaign solutions including instant reward issuance, fixed-fee risk-managed prize pools, microsite development, and promotional insights for marketing teams and brands.
• Enterprise Claim and Customer Service Solutions Real-time payment issuance and CRM integration for insurance claims, rebate settlements, and customer service operations with instant payments to digital wallets.
• Corporate Trade and Staff Gifting Branded corporate prepaid cards for employee recognition, sales incentives, anniversary gifts, referral bonuses, and holiday rewards, delivered digitally to mobile devices for HR and finance teams.
• Data and Insights Real-time payment reporting and analytics tools providing campaign effectiveness tracking, transaction analytics, merchant spend categories, and spending behaviour insights with cloud-based dashboards.

Quantifiable outcome

• 350,000+ digital Mastercards issued in the last 12 months
• +5 more outcomes

Named customers20 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature8 records

Partnerships

Four partnerships are on record, tiered core.

• ThreddcoreTechnology or Integration · 4 February 2026Thredd serves as strategic issuer processing partner supporting Vault's expansion into Australia and UK markets on Mastercard's global network. Vault selected Thredd after competitive evaluation citing technology, regional expertise, and collaborative approach with Mastercard as key differentiators. Partnership supports launch of new prepaid, debit, and private-label card programmes following Vault's Principal Issuing Partner appointment.
• MastercardcoreStrategic or Co-development Partner · 13 November 2025Vault secured Mastercard Principal Issuer status, enabling direct access to Mastercard's global payment network and faster innovation for new payment products. New status unlocks greater agility, heightened security, and enhanced personalization capabilities for Vault's clients and cardholders. Partnership enables development and launch of new payment products with faster time-to-market.
• FlexewalletcoreTechnology or IntegrationFlexewallet Pty Ltd (AFSL 448066) provides authorized financial services backing under intermediary authorisation arrangement. Flexewallet issues prepaid Mastercard products and provides the regulatory authorisation framework for Vault's card issuance operations.
• Digital Wallet Providers (Apple Pay, Google Pay, Samsung Pay)coreTechnology or IntegrationIntegration with major mobile wallet platforms enables digital card provisioning, contactless payments, and secure transaction authentication via biometric security features.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Emerging players

• Pleo: European virtual corporate card and expense management platform. Comparable to Vault's Virtual Corporate Cards product for online B2B payments, though Pleo targets corporate expense management while Vault focuses on incentives.
• Soldo: European prepaid corporate card and spend management platform targeting SMBs and enterprises. Comparable to Vault's reloadable and virtual card products but focused on ongoing corporate spend rather than rewards.
• Reloadly: Digital prepaid and gift card platform focused on emerging markets with API-driven rewards delivery. Comparable to Vault's API-first model for sending digital Mastercards globally for incentive and corporate use cases.

Broad incumbents

• InComm Payments: Global payments technology company with a large prepaid products division. Comparable to Vault as a broad incumbent offering branded prepaid and gift card products across retail and enterprise channels.
• Blackhawk Network: Global prepaid and gift card platform with a huge retail distribution network. Comparable to Vault because it also issues branded prepaid Mastercard products for enterprise reward and incentive programs, but operates at vastly larger scale across multiple geographies.

Direct peers

• Tango Card: Digital reward and incentive platform offering prepaid card and gift card delivery via API for enterprise loyalty programs. Direct peer to Vault given overlapping product (Reward Link), API-first GTM, and corporate reward/recognition focus.
• Reward Gateway: Employee engagement platform with digital rewards and recognition tools used by HR teams. Comparable to Vault's Corporate Trade and Staff Gifting solution targeting HR/finance buyers for staff rewards.
• Tremendous: Digital rewards and incentives platform that enables businesses to send prepaid cards and gift cards globally. Direct peer to Vault because it targets the same enterprise rewards/cashback use case with API-driven delivery, though Tremendous is more US-centric.
• Giftbit: Digital gift card delivery platform that lets businesses send branded prepaid cards via email. Comparable to Vault's digital prepaid Mastercards for employee rewards, customer incentives, and promotional campaigns.

Others

• Marqeta: Card issuing platform-as-a-service that powers modern card programs including rewards and incentive cards. Adjacent to Vault because both enable virtual card issuance, but Marqeta is infrastructure while Vault is a programme manager.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/vault-payment-solutions-group

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vault Payment Solutions