Home Featured Event Meet eWAY, 2010 Anthill Cool Company Award Finalist

Meet eWAY, 2010 Anthill Cool Company Award Finalist


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What are the Cool Company Awards?

The Cool Company Awards were launched in 2006 as a way for Anthill to acknowledge and celebrate Australian organisations that are doing things differently to bring about positive change. Cool Companies stay one step ahead of the rest. They breed leaders who are rule-makers and rule-breakers. They are trend-setters in attitude and action. Quite simply, they are … cool! More.


Company: eWAY
Website: http://www.eway.com.au/
State: ACT
Category: Global Growth

Giving merchants a safe method to process customer payment online, in real time, is eWAY’s bread and butter. Its slick, dependable website (up and running 99-plus percent of the time, the company says) and best practices in the credit industry has allowed the Canberra-area company to expand to New Zealand, Asia and the United Kingdom.

But one of the things that puts eWAY squarely in the realm of coolness is that, as part of the signup process, merchants are given, or directed to, the tools need to set up an online presence. Google AdWords, shopping-cart clients, banks’ requirements for online transaction — eWAY tries to make it easier for a nascent businesses to cuddle up with the Interwebs.

Because one more Net-savvy SME is another potential eWAY client.

“Our online signup process is unique within the industry,” said Richard Considine, eWAY corporate sales manager. “It allows merchants to source all of the resources they need to set up their online business before they commit to using our solutions. Previously, the roadblocks in setting up an online business were significant and turned away many potential online merchants.”

The company has spent the past two years extending its reach overseas. Tapping into New Zealand and Asia was easier than the UK, where merchants and partners needed to be convinced the distance and time difference would not be an issue.

“The main reason for our export success was ensuring there was the focus and resources dedicated to ensure we delivered on our promise of service and uptime,” Considine said. “If we couldn’t replicate the level of merchant assistance we offer in Australia in these new territories, we couldn’t hope to emulate our domestic success.”

Revenue for eWAY flows from two streams: merchants pay a yearly fee for its services. They also pay a transaction fee, billed on the first of each month for the previous month’s transactions.

Client merchants include Qantas, Canon, Setanta Sports, McDonald’s and 3M. eWAY’s revenue for fiscal 2010 was between $2 million and $5 million. For fiscal 2011, they’re shooting for the $5-10 million range.

As for marketing, eWAY leans on SEO to attract clients. It works with solution partners such as online shopping cart providers to drive mutual referrals, and stage exhibits at tradeshows such as CeBIT and Online Retailer.

In the eWAY office, a ship bell is rung each time sales rep brings in a new merchant. Teams can look forward to being taken to lunch or dinner for hitting  monthly targets. And then there are Fun Fridays, a staff prize promotion designed to energize what is typically one of the slowest sales days of the week.

Introduction to eWAY


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