Peppermint entering lucrative international remittance market
Peppermint has created a wholly owned subsidiary, Peppermint Payments Pty Ltd (PPPL) to provide international remittances in the Australian market. Reflecting Australia’s history as a “land of immigrants”, this market is already large and growing faster than GDP, but supply has been shrinking due largely to increased compliance requirements. PPPL is registered with Austrac as both a remitter and a remittance network provider, and our AML/CTF program has been approved by our Australian bank. PPPL will use the brand “BIZMOTO” which is being trade-marked in both Australia and the Philippines. Agreements have been signed with multiple providers reflecting a carefully planned “best of breed” approach and architecture. Emphasis on proven […]
Do you know how your Bitcoin will be taxed?
Bitcoin has enjoyed a meteoric rise and could be in for a similarly spectacular fall.Either way, trading in Bitcoin has tax consequences. And staying out of trouble with the Australian Tax Office means knowing whether you are a hobbyist or serious investor, advisers say. As far as the ATO is concerned, there are broadly two reasons for purchasing Bitcoin: personal consumption and speculative gain. How you are taxed will depend on which category you fall into and, most importantly, how the ATO will view your activity. Above all, every single transaction needs to be fully documented, including not only “what”‘ is purchased, but “why” it was purchased, Hall & Wilcox […]
Numerous Australian Fintechs on the Deloitte Technology Fast 50 2017
The Deloitte Technology Fast 50 2017 Australia recognises and profiles fast growing technology companies. Now in its seventeenth year in Australia, the program ranks the 50 fastest growing public or private technology companies, based on percentage revenue growth over three years (2015 to 2017). Congratulations to all the Australian Fintech companies on the winners list: 2017 Deloitte Technology Fast 50 Winners: No.2 – zipMoney No.10 – Metamako No.12 – GetCapital No.15 – Prospa No.21 – EML Payments No.24 – MoneyMe No.31 – Zetaris No.36 – Avoka No.47 – HUB24 2017 Leadership Award Winners No.2 – Prospa No.3 – EML Payments No.7 – HUB24 Go here to read more […]
How ZipMoney has scaled
ZipMoney, an ASX-listed fintech that offers point-of-sale credit and digital payment services, is growing: In the company’s first half results it reported revenue of $6.7 million — up 722 per cent on the prior comparable period — and 120,000 customers — up 1100 per cent on 1H16. The business has been able to meet the challenge of growth by keeping its team focused on Zip’s key differentiators in the market while integrating with a variety of scalable cloud services, according to its chief technology officer, Mike Greer. ZipMoney allows an individual to make a purchase and pay for it later (its key service offers a three-month interest-free period and charges […]
Australians are increasingly using their phone as a credit card: Deloitte
The pressure is on Australian banks to keep up with customer’s growing use of smartphone apps to pay for in-store and online purchases. A Deloitte survey has found the use of mobile payment solutions has grown 14 per cent over the past year, with over a quarter of respondents now using them. Mobile payment solutions include apps such as Apple Pay, Samsung Pay and Android Pay, which allow users to process payments for online or in-store purchases using the app, without having to punch in their credit card details every time. Most of these apps act as “mobile wallets”, allowing users to store their card details and authorise payments using […]
Turnbull’s banking royal commission welcomed by fintech
Malcolm Turnbull has announced plans to establish a royal commission into the banking sector, and one fintech is hopeful it will bring more competition and trust to financial services in Australia. The announcement comes following a letter from ANZ, Commonwealth Bank, Westpac and NAB to the Treasurer asking for an inquiry to restore public faith. Alternative finance and peer-to-peer lender MoneyPlace’s CEO Stuart Stoyan told Canstar a banking royal commission “has been a long time coming”. “It’s important to re-establish trust with banks and financial services more generally,” he said. “I’m hopeful it will allow us to review policies that enable fintech to provide great products and services to all […]
DigitalX named advisor on high profile ICOs raising US$61m
DigitalX Ltd (ASX:DCC) is strengthening its credentials as one of the world’s leading corporate advisors for Initial Coin Offerings (ICOs), accepting the engagement as corporate advisor to SingularityNET and BitCar for their respective upcoming ICOs for token sales raising a combined US$61 million. The SingularityNET public ICO will look to raise up to US$36 million from the sale of 500 million tokens, while the BitCar ICO will raise up to US$25 million from 250 million tokens. DigitalX offers a unique combination of Blockchain technical expertise as well as marketing and promotional services. We also have an extensive cryptocurrency network and can connect companies with investors with significant digital currency holdings. […]
InstaReM continues APAC expansion
InstaReM, a leading digital cross-border payments company, has announced its expansion into Malaysia at its launch press conference, further solidifying its presence in Asia Pacific (APAC). Headquartered in Singapore after an early start in Australia, InstaReM is one of the largest cross-border payments providers globally, with licenses in eight markets and covering 40 countries, reaching 3.2 billion people in developed and developing countries. It is consistently ranked by the World Bank as the lowest cost operator in a number of corridors in Asia. Individual and corporate customers in Malaysia will now be able to enjoy cost-effective and efficient cross-border money transfers to over 60 countries across the globe. […]
