Australian fintech company Pinch Payments is posing a huge challenge to the local startup and developer community. It’s called Pinch Me! I want a 50K hackathon and the premise is incredibly simple.

They want you to create something that makes payment easy. If your solution is the best, they will give you 50,000 Australian dollars in cash.

This is not a theoretical exercise where you get a fancy certificate and a pat on the back. This is a high-stakes nation-building sprint designed to solve real business problems using real payments infrastructure. Whether you’re a solo builder or a full startup team, this is the best place to test your technical skills.

The status of Australian payments

We’ve seen incredible innovation in consumer payments over the last decade. Touching a phone to buy a coffee or split the dinner bill is practically easy these days. But B2B payments and SaaS billing still seem to be stuck in the dark ages.

Businesses still face manual reconciliations, unmet underwriting mandates and clunky direct debit forms. Pinch Payments has already built a robust payments orchestration platform to address this, processing transactions for over 4,000 businesses. They natively integrate with heavyweights like Xero, QuickBooks and MYOB.

But the Pinch team knows that a single company can’t create every niche integration or custom workflow. That’s exactly where you come in. They are opening up the Pinch Payments API and asking the community to push it to its absolute limits.

What is the real challenge?

The summary of this hackathon is surprisingly open-ended. You only need to create a solution that uses the Pinch Payments API to solve a real business headache. There are absolutely no rigid restrictions on the type of product you should create.

You could create a standalone invoicing app for a specific industry that currently relies on paper invoices. You could develop a plugin that incorporates seamless payments into a popular SaaS platform in a matter of hours. You may even want to create a marketplace solution that instantly splits payments between providers and platform operators.

The key is to find a real problem and prove that your software can solve it. Think about the workflows that make accountants nervous. Think about how freelancers can stop acting as debt collectors and get back to their real jobs.

The very healthy prize pool

Let’s talk about the best part of this whole event. The prize pool is truly impressive and is designed to give a huge boost to the winning team.

First place wins 50,000 Australian dollars in cash. That’s the kind of lead that can turn a weekend hackathon project into a legitimate, registered startup overnight. It’s real money for real innovation, delivered at Demo Night.

The runner-up does not leave empty-handed either. Second place secures free payment processing worth A$25,000 through the Pinch platform. If you plan to take your project to market, processing your first batch of revenue completely free of charge is an incredible competitive advantage.

Eliminates a huge operating cost during those crucial first months of expanding a business. You can focus your resources entirely on customer acquisition and feature development instead of worrying about transaction margins.

Why this is important for the local tech scene

Australia has a rich history of punching above its weight in the global technology and software sectors. We have produced some of the most used platforms in the world when it comes to business management and design. However, fostering that next generation of unicorns requires active investment in the grassroots builder community.

Events like this are critical for the ecosystem. They force people out of their usual routines and provide a structured environment for taking creative risks. You’ll be able to step away from your day job and spend an intensive week building something completely wild.

It’s also a fantastic networking opportunity. You’ll rub shoulders with experienced fintech operators, venture capitalists, and fellow creators. Even if you don’t take home the grand prize, the connections you make could easily lead you to your next career move or business partnership.

Ideas to get the creative wheels turning

If you’re staring at a blank screen wondering what to build, start by looking at your own daily frustrations. Think about the administrative tasks that drain your energy when you’re managing a side hustle or consulting job.

What if bills paid themselves based on smart contract logic? What if a marketplace app could dynamically split payments instantly between three different providers and one platform operator? What if freelancers never had to send another awkward follow-up email to a late-paying client?

You could even explore integrated finance, providing a complete payment and billing experience directly within an existing specialized software product. The Pinch Payments API supports automatic reconciliation, direct debit mandates, and batch payments. All the technical components are there waiting for you to assemble them in a new and smart way.

Who can really enter?

You might be looking at this and thinking you need to be a senior backend engineer to even have a chance. That is completely false. The most successful hackathon teams are almost always a diverse mix of skills.

The event is open to developers, founders, designers, product managers and students. If you have an idea and the drive to build a working prototype, you belong in this contest. You can register as an individual builder or you can bring a complete pre-formed team.

If you fly solo but want to collaborate, the organizers even offer to help connect participants before the sprint begins. Finding that perfect combination of technical architecture and business strategy is often the secret sauce to a winning proposal.

You can use your favorite AI tools

This is where things get really interesting for those of us who love modern development workflows. The rules explicitly state that AI-assisted development tools are fully permitted during the sprint.

You are free to launch ChatGPT, Claude, Cursor, Replit or GitHub Copilot to speed up your build. As a developer who regularly relies on generative AI to troubleshoot website styling issues or create custom game logic, I find this rule incredibly refreshing. Recognize the reality of how modern software will actually be written in 2026.

The judges don’t care if an AI co-pilot helped you write boilerplate code for your API calls. What matters to them is the final product, the user experience, and your ability to clearly explain the architecture during your presentation. Human vision is still needed to identify the business problem and orchestrate the ultimate solution.

Where and when does it happen?

This is a nationwide event, ensuring no one misses out, regardless of their zip code. Pinch hosts dedicated in-person hubs at Tank Stream Labs in both Sydney and Melbourne. There will also be a location in Brisbane and the specific location will be confirmed shortly.

If you reside in a regional area or simply prefer the comfort of your own home office, remote participation is fully supported. Virtual teams can join the launch event and Demo Night via live stream, competing under exactly the same conditions as in-person crowds. The deadline is quickly approaching, so you need to act quickly.

Applications are officially closed July 22, 2026.

The 10-day build sprint begins on July 24, giving you just over a week to code, refine, and ship your working product. Final submissions are due July 31 and finalists will be announced August 3.

It all culminates on August 10 with the demonstration and presentation night. This is where top teams will present their designs to a panel of experienced fintech operators, founders, and investors.

Support and mentoring along the way.

You won’t be left completely alone once the timer starts ticking. During the 10-day sprint, participants will have direct access to Pinch technology, complete sandbox documentation, and technical support. Pinch developers will be available to help with API integration, system architecture, and any difficult troubleshooting.

It’s not just about the code either. Business support is provided by mentors from The Founders Union. They will be available to help teams validate their product strategy, refine their target market, and polish preparations for their final presentation.

Having access to this caliber of industry experience is almost as valuable as the prize money itself. You’re getting a crash course in fintech product development from the people who actually build and scale these systems for a living.

What about intellectual property?

One of the most common reservations developers have about corporate hackathons is the fine print regarding ownership. Pinch has been incredibly clear and transparent about this from the beginning. Your team retains 100 percent ownership of everything you build during the event.

Organizers may request temporary access to their repository just to verify that their submission is legitimate and complies with contest rules. However, the intellectual property of your shiny new SaaS billing engine remains yours at all times. You are completely free to market it, sell it, or turn it into your own company once the event concludes.

How to get started

Participating in the ¡Pinchame! The I Want 50K hackathon is completely free. There are absolutely no entry fees or hidden costs to access the API sandbox. You just need to contribute your time, your talent and your best ideas.

With applications closing on July 22, the deadline to secure your place is rapidly narrowing. Early applicants are being prioritized for the limited places available at the in-person centers in Sydney, Melbourne and Brisbane.

This is a unique opportunity to gain direct access to payments experts, network with other ambitious builders and potentially secure a huge cash prize to fund your next big venture. If you’ve ever thought there must be a better way for businesses to manage their money, now is your chance to build it.

For more information, go to Pinch Payments.