Novatti just started making pots of money from its Alipay bill website
Novatti isn’t buying Australian milk to send to China, but has found another way to tap the moneyed Chinese population at home and overseas. The company says its gamble on a payments service for China residents to pay bills in Australia is paying off so well they’re looking at transaction volumes rising from $460,000 in January 2019 to an estimated $700,000 in February. In the December quarter the dollar value of transactions still only averaged $200,000 a month. As to the reasons for the pick-up? Novatti CEO Peter Cook attributed it to an increasing level of trust as the product spends more time on the market. “We think it’s partly […]
Peppermint collaborates with BancNet on Mobile Banking
Peppermint Innovation Ltd (ASX:PIL) advises it has teamed up with BancNet to provide their mobile banking technology and services that facilitate electronic fund transfers (EFT’s) in real time to BancNet member outsourcing banks. BancNet is the Philippines single Automated Teller Machines (ATM) switch operator connecting the networks of local and offshore banks. It is a multi-bank, multi-channel electronic payments network that enables its members’ customers to transact not only at ATM but also at point- of- sale (POS) terminals, the Internet and mobile phones. BancNet is the largest interbank network in the Philippines serving ATM cardholders of its 114 members and affiliates with circa 20,000 ATMs and more than 5,000 […]
Square and MYOB team up to help small businesses
From today, global payments provider Square is teaming up with MYOB, one of Australia’s leading providers of online accounting solutions, to help time-poor business owners better manage their payments. The new partnership will completely automate the payment process for business owners, ensuring they no longer have to waste time manually rekeying their sales or customer data, making reconciling accounts easier than ever. The comprehensive integration will enable transaction data processed via Square’s payment platform to move simply and securely through to the business owner’s MYOB account. It will allow business owners to easily reconcile their sales in a number of different ways, including: by product or category, by store location, […]
JPMorgan Chase to create digital coin using blockchain
JPMorgan Chase plans to launch its own digital coin, called “JPM Coin”, that customers will be able to use for instant transfer of payments over a blockchain network. The largest US bank by assets said customers, on depositing money at the bank, will be issued the cryptocurrency that can be used for transactions over the network with other JPMorgan clients. The coin can be redeemed for a US dollar, so its value will largely remain stable, the bank said. When one client sends money to another over the blockchain, JPM Coins are transferred and instantaneously redeemed for the equivalent amount of US dollars, reducing the typical settlement time, the bank […]
Has Bitcoin entered a new normal?
Bitcoin has been experiencing low volatility recently, which could fuel greater adoption by enabling the cryptocurrency’s use as a medium of exchange. As for whether this will actually materialize, analysts have offered mixed views. Nigel Green, founder and CEO of independent financial consultancy deVere Group, forecasted that bitcoin’s modest price fluctuations will probably prompt greater use of the digital currency. While the digital currency’s price fluctuations have been “relatively modest” as of late, “volatility will return again,” he predicted. “However, there is a growing sense that crypto sector will have less extreme swings moving forward,” emphasized Green. “This is likely to further drive mass adoption.” To read more, please click on the link below… […]
Zip Co welcomes Chemist Warehouse to the platform
Digital payments platform, Zip Co (ASX:Z1P) has today announced a partnership with Chemist Warehouse retail group. Chemist Warehouse is Australia’s largest pharmacy retailer with revenue in excess of $5 billion and stores in 400 locations across the country. It’s expected that Zip will be live throughout Chemist Warehouse stores within the next two months. Zip CEO Larry Diamond says, the company is excited to partner with one of Australia’s top 10 retailers and expand their digital payment offerings. To read more, please click on the link below… Source: Zip Co welcomes Chemist Warehouse to the platform | Finance News Network
Why business enterprise should start accepting cryptocurrency as payments
Payments for products and services is something that has been going on since the beginning of humankind. The main change has been how it has been established. From changing to cryptographic forms of money, strategies for payment have changed drastically all through human history, and we are in the middle another rush of change. Many will feel that digital forms of money are the catalyst for the new payment revolution, yet those indicators are presumably losing track of the main issue at hand. Even though crypto works for new and different payment strategies, it is early compared with the latest trend. Cryptographic forms of money are fast in rising as […]
Is Ripple too far ahead of its time?
As Swift and Ripple vie for the future of cross-border payments, an article published in American Banker has shed some light onto the obstacles facing both brands. At the same time, Swift has taken a step towards blockchain by linking its payments standard – GPI, or Global Payments Innovation – to R3’s Corda blockchain. It’s likely to be a winner-takes-all market because getting everyone onto the same network is crucial for getting the most out of the technology. As such, now might be a pivotal time for Ripple. The uptake numbers are sitting in Swift GPI’s favour though. Swift says more than 450 banks, which handle over 80% of international […]
