Successfully testing a new e-Invoicing approach with Small Business and Government
Link4 recently took part in an e-Invoicing pilot to test and demonstrate how small and medium businesses could instantly send their invoices to the NSW Government through e-Invoicing. The pilot was conducted with the NSW Department of Finance, Services and Innovation which partnered with one of its suppliers, TeleResult, to test e-Invoicing as a solution for streamlining the receiving of invoices. Brian Stevens, Practice Director, TeleResult enjoyed being able to instantly invoice the Department during the pilot and could see the value of implementing this invoicing system with other clients. “This could take all of the questions regarding invoice delivery and invoice processing status away,” said Mr Stevens after the […]
The $4b buy now pay later startup built on a legal loophole
“I’m pretty bad when it comes to shopping,” Amanda*, a 23-year-old disability worker based in Melbourne tells Fairfax Media. “If I liked it, I’d Afterpay it”. It’s been said that the ultimate goal for a tech startup is to become a verb. If that’s the case, then Sydney-based Afterpay has well and truly made it. Amanda started using the buy now pay later service in 2016. She used it to purchase clothes, electronics and Christmas presents. But when her financial circumstances changed, she quickly ran into trouble. “When I started using it I was getting good money from work. I could afford the repayments, I always made sure I would […]
Why Brisbane is the cryptocurrency capital of the country
Queensland is banking on cryptocurrency to boost tourism in the state, with a sizeable grant given to a Brisbane-based start-up that will enable visitors to pay for every aspect of their travel using digital currencies like Bitcoin. The local start-up, TravelbyBit, has received two rounds of funding from the state government and, in turn, has transformed its hometown of Brisbane into one of the most crypto-friendly cities in the world. TravelbyBit’s digital currency point-of-sale system has been deployed to over 200 merchants across Australia, with at least 60 per cent of those located in Queensland. In May, Brisbane Airport became the first in the world to accept cryptocurrency, enabling travellers […]
Australia just lost one of its most promising fintech startups, Airwallex, to Hong Kong
Tencent-backed payment operator Airwallex has become the latest fintech company to show interest in joining Hong Kong’s virtual banking push. Airwallex co-founder and chief executive Jacky Zhang said the company will team up with a traditional bank and other local partners as part of the application process, although he declined to reveal their identities. “We believe Hong Kong to be an ideal location to be our headquarters. Hong Kong is an international financial centre where we can serve our global clients worldwide,” Zhang said in an interview with the South China Morning Post in his newly installed office in Quarry Bay. Another reason for the relocation to Hong Kong is […]
Samsung Pay’s Australian success also now available in six continents
ITWire recently spoke to Mark Hodgson, head of Samsung Pay in Australia, who shared his thoughts on the convenience of mobile wallets; in the meantime, Samsung has announced 1.3 billion Samsung Pay transactions. Billed as being “simple, secure and almost anywhere”, Samsung Pay has reached that milestone globally in 24 markets – which has included Australia since June 2015, and which secured Australia’s four major banks by March 2018, for a total of 45 financial institutions in Australia at that time. Now comes Samsung Pay’s third anniversary, having originally launched in South Korea on 20 August 2015. Since then, Samsung reports its payment service having “experienced significant global growth and […]
Business-only bank Tyro in deal with China’s Alipay
Australian business-only bank Tyro has entered into an agreement with the world’s largest online payment platform, Alipay, to become the first Australian bank to offer an all-in-one Eftpos solution with the Chinese outfit. The partnership, which will be live from the second quarter of 2019, is designed to improve Australian business access to the Chinese visitor market. “Based on requests from several of our merchants to accept Alipay, Tyro and Alipay entered discussions to explore the best way we could work together,” Tyro CEO Robbie Cooke told The Australian. “With Tyro’s in-house engineering team, we were able to deliver Alipay in an agile way which allows for rapid market delivery.” […]
Could Bitcoin replace Credit Cards?
Growing competition in the retail sector – and the possibility that the digital currency could help merchants lower transaction fees that cut into profit margins — could induce them to replace credit cards with Bitcoin. “From a merchant perspective, Bitcoin has the advantage of not having large fees from credit card companies that cut into profits,” writes Ian DeMartino, in The Bitcoin Guidebook: How To Obtain, Invest, And Spend The World’s First Decentralized Cryptocurrency. “Credit card companies typically charge between three to four percent for each transaction, a fee the merchants normally take on themselves. For merchants with small profit margins, that fee could be up half or more of […]
Afterpay to raise equity for UK acquisition
Payments company Afterpay will launch a $110 million equity raising. It is understood the company has hired brokers Citi, Bell Potter and Wilsons to manage the offer. The deal is expected to be underwritten by Citi at a floor price of $15.75 a share, with the deal to be done via a placement. Funds raised would be used to buy a UK payments company ClearPay’s customers and footprint, which would launch Afterpay into the UK. It is understood Highbury Partnership advised Afterpay on the acquisition. To read more, please click on the link below… Source: Afterpay to raise equity for UK acquisition | afr.com
