Quest Payment Systems Company Profile

Background

Quest Payment Systems, headquartered in Melbourne, Australia, is a leading technology company specializing in end-to-end payment solutions for retailers and financial institutions both domestically and internationally. Established in 1991, Quest is recognized as Australia's largest full-service payment solution provider, offering the country's only locally designed and manufactured range of payment terminal hardware. The company's mission is to deliver innovative, secure, and reliable payment technologies that enhance transaction experiences across various industries, including oil, food retailing, transportation, postal services, hospitality, fashion, and general retail.

Key Strategic Focus

Quest's strategic focus centers on developing and delivering comprehensive payment solutions that cater to both mass market and bespoke requirements. The company's core objectives include:

Product Diversification: Offering a wide array of payment terminal hardware, including fixed-line and mobile devices, as well as software solutions such as gift card and online payment platforms.

Technological Innovation: Integrating advanced technologies like EMV smart cards, contactless payments, and transaction routing solutions to meet evolving market demands.

Market Expansion: Targeting diverse vertical segments and expanding its footprint both locally and internationally.

By leveraging in-house expertise in industrial design, hardware and software engineering, security, systems architecture, project management, and logistics, Quest aims to provide tailored solutions that address the unique needs of its clients.

Financials and Funding

As of 2025, Quest Payment Systems reports an estimated annual revenue of approximately $25.6 million, with a workforce of around 100 employees. The company has demonstrated consistent growth, reflecting its strong market position and the increasing demand for its innovative payment solutions.

Pipeline Development

Quest has a history of pioneering payment technologies, including:

Airpay TAP: Launched in October 2020, this software-only tap-on-phone payment solution allows merchants to accept contactless card payments on Android smartphones without additional hardware. It supports high-value transactions with PIN verification and has been approved by major payment networks such as Visa, Mastercard, American Express, and eftpos.

MT330 Mobile EFTPOS: Introduced in 2014, the MT330 is a compact, low-cost credit and debit card terminal that connects to smart devices, enabling businesses to accept secure payments on the go.

These developments underscore Quest's commitment to providing flexible and innovative payment solutions that cater to the evolving needs of businesses and consumers.

Technological Platform and Innovation

Quest distinguishes itself through its proprietary technologies and innovative methodologies, including:

Locally Designed and Manufactured Hardware: As the only provider of locally designed and manufactured payment terminal hardware in Australia, Quest ensures high-quality, secure, and reliable products tailored to the local market.

Airpay TAP Technology: This solution transforms Android smartphones into secure payment terminals, supporting contactless payments and high-value transactions with PIN verification, thereby enhancing merchant flexibility and customer convenience.

Integration with Emerging Payment Methods: Quest's platforms are designed to accommodate various payment types, including EMV smart cards, contactless payments, and transaction routing solutions, ensuring adaptability to future payment trends.

Leadership Team

Quest's leadership team comprises experienced professionals dedicated to driving the company's strategic vision:

Jan Mason: Appointed as Chief Executive Officer in February 2015, Jan Mason has been instrumental in steering Quest's innovation and market expansion efforts.

Tom Graham: Serving as Head of Innovation, Tom Graham leads the development of cutting-edge payment solutions, including the Airpay TAP technology.

Damien Halloran: As Director of Sales and Marketing, Damien Halloran focuses on expanding Quest's market presence and fostering strategic partnerships.

Leadership Changes

In February 2015, Jan Mason succeeded company founder Andrew Graham as Chief Executive Officer, marking a significant leadership transition aimed at driving the company's growth and innovation strategies.

Competitor Profile

Market Insights and Dynamics

The global payment solutions market is characterized by rapid technological advancements and increasing demand for secure, efficient, and versatile payment processing systems. Key trends include the adoption of contactless payments, integration of mobile payment solutions, and the expansion of digital payment platforms.

Competitor Analysis

Quest operates in a competitive landscape alongside several key players:

Verifone: An American multinational corporation providing electronic payment transactions and value-added services at the point-of-sale. Verifone offers a range of payment terminals and services catering to various industries.

Worldpay, Inc.: A global payment processing company offering a comprehensive suite of services, including merchant acquiring and payment processing solutions. Worldpay serves a diverse clientele across multiple sectors.

AffiniPay: Specializes in payment solutions tailored for professional services, providing secure and efficient payment processing platforms.

Century Business Solutions: Offers integrated payment processing solutions designed to streamline transactions for businesses of various sizes.

Quest differentiates itself through its locally designed and manufactured hardware, commitment to innovation, and ability to provide customized solutions that address specific client needs.

Strategic Collaborations and Partnerships

Quest has established significant partnerships to enhance its market position and technological capabilities:

J.P. Morgan Payments: In October 2024, Quest collaborated with J.P. Morgan to enhance in-store merchant capabilities in Australia, integrating Quest's payment technologies with J.P. Morgan's banking expertise to streamline transactions and improve customer experiences.

Visa and NAB: Quest partnered with Visa and National Australia Bank (NAB) to trial and launch the Airpay TAP solution, demonstrating the technology's viability in real-world environments.

Alipay: In 2016, Quest collaborated with Alipay to introduce the Chinese mobile payment giant's services to Australian retailers, catering to the growing number of Chinese tourists and expatriates.

Operational Insights

Quest's strategic considerations include:

Market Positioning: Emphasizing its status as the only Australian provider of locally designed and manufactured payment hardware, appealing to clients seeking domestic suppliers.

Competitive Advantages: Offering customizable solutions, rapid deployment capabilities, and a strong commitment to quality and long-term product support.

Adaptability: Continuously innovating to integrate emerging payment technologies and meet the evolving needs of diverse industry segments.

Strategic Opportunities and Future Directions

Quest's strategic roadmap includes:

Global Expansion: Leveraging its innovative solutions, such as Airpay TAP, to enter new international markets and establish a global presence.

Product Development: Investing in research and development to introduce new payment technologies that address emerging market trends and consumer preferences.

Partnership Growth: Strengthening existing collaborations and forming new alliances to enhance technological capabilities and market reach.

By capitalizing on its strengths in innovation, quality, and customer-centric solutions, Quest is well-positioned to achieve its future objectives and maintain a competitive edge in the payment solutions industry.