US deal propels shares in Aussie fintech higher

SHARES in ASXlisted fintech Propell rallied after the company announced a partnership with

Jack Dorsey’s US tech giant Square.

Propell will integrate Square’s e-commerce payments into the Propell Platform, and will “work closely with Square to provide e-commerce payments to businesses in industries such as retail, food and beverage, hair and beauty, professional services, and home and repair”.

The partnership will give Propell customers greater flexibility in getting paid, it says.

“A key focus at Propell is to help our customers to better understand and manage their finances and provide access to products and services to improve their cashflow,” said Propell chief Michael Davidson (pictured). “The partnership with Square will help enable these improvements.”

Propell shares closed up 1.2c or 12 per cent at 11c on Friday. The stock was issued for 20c in the fintech’s float in April.