Why people are investing in Fintech
Finance and technology are two of the biggest industries in the world. The combination of the two is not only exciting for those industries, but it’s appealing for those who stand to make money from it. Here’s why people think fintech is a sound investment. The business world continues to evolve, thanks to modern technology. One of the most talked-about tech phenomena today is fintech, or financial technology. This is the use of modern technology, whether it’s software or another form of tech, to design and deliver financial services. PayPal, for example, is arguably the most well-known fintech company and worth almost $50 billion, which is more than Netflix, Twitter […]
Real-time payments to be launched after Australia Day
A new payments systems is “on track” to be able to deliver real time bank transfers and the ability to ditch BSB numbers from Australia Day. While most people take a break over summer, banks will be putting the finishing touches on the biggest overhaul in the payments system in years. The new payments platform or NPP is a $1 billion project to deliver real-time payments between customers of different banks, and the company to run the system says it will be rolled out to the public after Australia Day next year. The long-running project has been scheduled to be launched this quarter, and despite industry chatter about some banks […]
What is Bitcoin, and how does it work?
If you find the concept of Bitcoin confusing, you are not alone. The virtual currency has been a constant source of controversy, but it is still not well understood. On Tuesday, one Bitcoin was worth USD$4,394. Are Bitcoins those coins I see in photographs? No. Those coins are novelty items that newspapers used in photographs because they couldn’t find anything else to illustrate their stories about Bitcoin. A Bitcoin is a digital token — with no physical backing — that can be sent electronically from one user to another, anywhere in the world. A Bitcoin can be divided out to eight decimal places, so you can send someone 0.00000001 Bitcoins. […]
Peppermint enter lucrative gateway services market
ASX listed fin-tech player Peppermint Innovation’s rollout of its unique technology platform has taken a big step forward after the Perth-based company struck a further deal with UCPB, one of the Philippines’ largest banks. Peppermint, who are currently focused on the commercialisation and development of their mobile-phone based bill payment technology said they had inked a deal with UCPB to roll out internet payment “gateway services” in the Philippines for the giant lender. UCPB’s online mobile banking system is already powered by Peppermint technology and the latest deal relating to gateway services represents an extension of the commercial relationship between the two parties. UCPB’s internet payment gateway, facilitated by Peppermint, […]
How Crowdfunding has influenced start-ups
You have a great idea that you would like to bring to the market. However, you have little to no capital in kick-starting product development. Furthermore, you don’t really have the business acumen and the research and development needed to make a solid business presentation to a group of investors. So, how do you go about finding the seed funding you need to start turning your idea into a reality? Many entrepreneurs in recent years have turned to crowdfunding as a way to reach a large audience to fund product ideas and business models. What Is Crowdfunding? Crowdfunding is an alternative way for businesses, and especially start-ups, to source capital […]
Ignore bitcoin at your peril, naysayers warned
It’s taken three weeks for bitcoin to erase the losses it suffered when JPMorgan chief executive Jamie Dimon dismissed the digital currency as a fraud.
Yield-hungry investors switch their cash to peer-to-peer lenders
Peer-to-peer lender, RateSetter, says 56 per cent of money invested with it is from savers withdrawing their money from their bank savings accounts. Yield-hungry investors are understandably frustrated with earning next-to-nothing on their cash held at their banks, with interest rates at historic lows and likely to stay that way for the foreseeable future. With the the advent of peer-to-peer (P2P) lenders, online platforms that match investors and borrowers, investors can get up to three times the interest paid by term deposits. P2P lenders charge borrowers lower rates of interest than they would pay on bank loans, while lender-investors earn higher interest than they could get with a bank term […]
Pocket money should be electronic to match kids’ spending
PARENTS are being urged to pay pocket money in a digital form as traditional cash nears extinction. While some advisers still recommend teaching children money skills using dollars and cents, there’s a strong chance that today’s primary school students will rarely — if ever — transact with cash. Many of their most common purchases — such as snacks at school, music and video games — are already bought online, and the trend has sprouted a new breed of digital pocket money options. Claire Morris, co-founder of online gift card marketplace Prezzee, said digital pocket money made it easier for parents to monitor spending and saving. “Cash is harder to keep […]
