Australian Payments Plus (AP+) has signed an agreement for Bolt Group to acquire its consumer payments app, Beem.

AP+ CEO Lynn Kraus said, “While Beem has become a much-loved app within Australia, the time has come to hand the Beem baton over to Bolt Group, who are uniquely placed to provide existing customers with more capabilities, grow Beem’s customer base, and ultimately create new experiences for the Australian market.

“Over the years, Beem has spearheaded the group expense tracking trend and achieved more than 3 million app downloads, while maintaining an average app store rating of 4.9 out of 5.

“The sale of Beem reflects a deliberate move for AP+ to sharpen its focus on the role it plays in building and operating Australia’s critical payments and identity infrastructure, including eftpos, the NPP, ConnectID and BPAY.”

A new era for everyday Australian finances

Bolt Group Australia CEO James Woodward said, “Beem is a uniquely Australian success story, with millions of registered users and a product that customers genuinely value. AP+ has built something special, and we are excited to take it into its next phase.

“Our vision is to evolve Beem into a true everyday money app — bringing together payments, a gateway to transaction and savings accounts, multi-currency and investing into a single, seamless experience.

“We also see a significant opportunity to build a connected payments ecosystem — bringing together consumers, merchants and partners to deliver faster, lower-cost and more rewarding financial experiences.

“Importantly, we will continue to invest in Beem’s strong position with younger Australians, helping the next generation better understand, access and manage their money.”

There will be no immediate changes for existing Beem customers, with all services continuing as normal. AP+ and Bolt Group will work closely together to transition services by the end of June 2026, ensuring customers are supported throughout the process.