Are we looking at a cashless future?
When was the last time you paid for something with a fat wad of notes or a handful of shrapnel? Even if you wanted to, you may not have had the option – according to the Commonwealth Bank, the number of Aussies making cash payments is shrinking, while the number of businesses going completely cashless is growing. Cashless payments are becoming more and more popular around Australia, with CBA finding that a contactless or “tap” payment is now the preferred payment method for more than 90 per cent of purchases. CBA also found that between January 2017 and January 2019, contactless payment transactions have grown by 140 per cent. A […]
Space tickets, gemstones and Gmail: ‘Biggest business you’ve never heard of’ behind $5.6 billion in deals
It’s used to buy and sell everything that’s “complex and expensive”, from boats and planes to space station tickets, gemstones and exotic animals. But despite processing more than $5.6 billion in deals, including the sale of some of the internet’s biggest domain names including Twitter, Gmail and Instagram, it’s the “biggest fintech you’ve never heard of”. Matt Barrie reckons they “should have added a few zeros” to the $10 million sale price of little-known US website Escrow.com when he snapped it up three years ago. Escrow.com, as the name suggests, provides online escrow services for e-commerce platforms by holding payment between buyer and seller until a transaction is completed. Its […]
Doshii-Mimu integration brings simple, 3-step ordering-ahead to busy bars
Doshii is pleased to announce another successful integration. The latest is with mobile App, Mimu, which is helping transform the way we order food and drink in bars and restaurants. Mimu eliminates time spent waiting to order by letting patrons order ahead from their mobile phone. To start the ordering process, customers simply open the Mimu App and their location is automatically picked up. Using Mimu’s intuitive UI, they then order what they want from the venue’s menu and head straight to online checkout – paying through the Mimu App. Doshii’s API, which connects Apps with POS, then processes the order and payment in real-time and alerts staff at the venue to […]
Bitcoin enthusiasts see end to bear market
After a brutal bear market that’s stretched 16 long months, Bitcoin enthusiasts are ready to declare that the dreaded “crypto winter” is finally at an end.
BGL wins Fintech Breakthrough award for Best Regtech company
BGL Corporate Solutions, Australia’s leading supplier of SMSF administration and ASIC corporate compliance solutions, has been recognised as Best RegTech Company in the 2019 FinTech Breakthrough awards. FinTech Breakthrough is a worldwide independent organisation that recognises the top companies, technologies and products in the global FinTech market. This is the second consecutive year BGL has been recognised as the world’s Best RegTech Company. “Over the year BGL Corporate Solutions has grown and evolved into the leading provider of SMSF administration and ASIC corporate compliance cloud software solutions, with over 8,000 clients in 15 countries now using its product suite of compliance solutions,” said James Johnson, Managing Director, FinTech Breakthrough. “As […]
Bene working up to be a challenger bank in Australia
Bene is a new lender in Australia that is working towards building a neo-bank. At the moment, Bene says it is not a bank or an authorised deposit-taking institution (ADI), and is not authorised by the Australian Prudential Regulation Authority (APRA) to conduct banking business in Australia. However, the firm intends to apply for authorisation to conduct banking business in Australia, initially for a limited period with specific requirements and restrictions as a restricted ADI. The firm says it is “driven by smart, simple design” on its mobile platform. According to its site, Bene offers loans from AU$2,000 to AU$30,000. To read more, please click on the link below….Source: Bene […]
‘Relationship lending’ fintech seeks to raise $1.5m
A Western Australian fintech that manages loans between known parties is seeking to raise $1.5 million through an equity crowdfunding campaign. Credi, a fintech that provides a way for family members, friends and businesses to “formalise” loans, is seeking a fresh injection of capital. The fintech will soon launch an equity crowdfunding campaign via Equitise to raise between $500,000 and $1.5 million over a month at $1 per ordinary share. Founded in 2017 by the Western Australian director of FinTech Australia, Tim Dean, Credi allows known parties to formalise loans, whether it’s small loans between friends, parents providing deposits for a house, investors seed funding a new business, businesses lending […]
SME lending is a valuable source of diversification for brokers says fintech lender OnDeck Australia
The Banking Royal Commission has highlighted the perils of relying on a single revenue stream, and SME lender OnDeck Australia is urging mortgage brokers to think beyond home loans and diversify into SME lending. Research by commercial lending fintech OnDeck Australia[1] confirms that 25 percent of Australia’s small to medium enterprises plan to seek additional business finance. Michael Burke, Head of Sales at OnDeck Australia, says, “There is clearly strong demand for SME finance, making this a revenue channel that brokers cannot afford to overlook. Moreover, our discussions with brokers indicate that, on average, one in four of a broker’s existing home loan clients are SME owners, providing a ready […]
