Square expands its Australian offering with iconic Square Stand
After 18 months of strong local growth, Square continues to expand its presence in the local market, introducing more products and services to help a wider range of Australian businesses. From today, the iconic Square Stand for contactless and chip is available across the country. Gone are the days of large point-of-sale systems, clunky cash drawers, piles of paper receipts, and cluttered countertops. Square Stand for contactless and chip is the first out-of-the-box solution to turn an iPad into a fully integrated point-of-sale system, allowing businesses to take payments and run their entire operation from their countertop device. With tens of thousands of businesses now using Square across the […]
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 […]
Credit card debt targeted by Douugh, financial ‘personal assistant’
Bank customers will soon be able to sign up for computer-generated tips on how to get on top of their credit card debt, manage their budget, and eventually, save money on their electricity bill. That is the ambition of start-up Douugh, a financial technology firm this month launching a pilot in Australia of a financial “personal assistant,” based on artificial intelligence. It is the latest example of a fintech start-up seeking a piece of the banks’ lucrative financial relationships with consumers, as the public’s trust in traditional banks wanes. The platform, which has already launched in the United States, will work by allowing customers to essentially download their financial history, […]
Alternative Finance: Australia becoming regional leader
Australia’s alternative finance market has grown by 53% over 12 months according to a report released by KPMG, becoming the second largest in the Asia-Pacific region. The report revealed Australia’s alternative finance market increased from US$27 million in 2015 to US$610 million in 2016 as Aussies turn to peer-to-peer lending (P2P), balance sheet business lending and crowdfunding. In the US$245.28 billion Asia-Pacific alternative finance market, China was found to be the leader, accounting for 99.2% and representing 85% of the total global market. P2P consumer lending was Australia’s second most popular alternative finance model behind balance sheet business lending, increasing from US$43 million in 2015 to over US$158 million in […]
