An update on Lodge from BPAY Group

- By BPAY Group
At the time of its launch over 20 years ago, BPAY introduced a revolutionary change to bill payments in Australia. Over time, BPAY has grown to over 150 members and has now become part of the fabric of the Australian payments system.

Since then, the changes to the payments industry have been drastic and rapid. Acknowledging the need to diversify to ensure our continued success, we set ourselves an innovation challenge to shape new opportunities.

In early 2018, BPAY Group embarked on a project to investigate customer pain points and identify solutions that would capitalise on our unique position in the Australian marketplace. We worked with BCG Digital Ventures and identified multiple opportunities, which were narrowed down to two. In September that year, we launched two new companies, Lodge and Sypht.

Lodge, a property management platform for independent investors, offered landlords an easy and convenient alternative to manage their investment properties. By utilising a range of tools and gaining access to market intelligence, Lodge put landlords in control of all aspects of managing rental property.

Although Lodge developed a loyal customer base, its usage did not reach the required level to grow the business. As a result, Lodge is ceasing operations in early May 2020.

Shutting down a business is never easy, but we’ve learnt along the way and will continue to grow and innovate our existing products. As always, we will look to our customers to guide our innovations that will make life simpler for them.

As we look ahead, we are excited by Sypht, which continues to grow and explore bigger opportunities in the global market, and we have a new business strategy that brings more innovation closer to our core.

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