Ripple wants to invest in startups that will put its XRP cryptocurrency to work
Payments company Ripple says it plans to invest in startups and technology companies to develop more uses for XRP, its cryptocurrency that is currently the third largest digital token behind bitcoin and Ethereum based on total market cap. The value of XRP shot up in December and January following a crypto market rally that saw bitcoin reach nearly $20,000 per coin. The collective value of XRP was worth more than $128 billion at peak before a market crash in January walked those prices back significantly. Today, the token has a total market cap of around $30 billion but Ripple has come under fire for a perceived lack of use for […]
Paypal files patent for expedited cryptocurrency transaction system
A recent patent filing reveals that Paypal might be considering expanding its exposure to the cryptocurrency ecosystem with a new system for speedy transactions. We shouldn’t however expect a Paypal Lightning Network or anything close to that any time soon. There is currently a global race to file patents for everything crypto or “blockchain” related and the company might just be strengthening its portfolio for future patent battles. Expedited Cryptocurrency Transaction System Online payments provider Paypal has filed a new patent application for an “expedited virtual currency transaction system” with the US Patent and Trademark Office. The last time it was reported that the company filed a patent application related […]
Global payments innovator Verrency accepted into another prestigious accelerator – Plug and Play Tech Center in Silicon Valley
Verrency, a global Australian payments platform and fintech marketplace, has been accepted into the latest fintech cohort of Silicon Valley-based technology accelerator Plug and Play Tech Center. Verrency was selected out of almost 1000 fintech start-ups to be a part of the prestigious accelerator program following a rigorous selection process, which involved voting from Plug and Play’s corporate financial services partners. Verrency is only one of three Australian firms to have ever been selected for entry into the fintech cohorts over the life of Plug and Play. During the next three months, Verrency will be introduced to Plug and Play’s corporate partners and work with the partners on potential pilots, […]
NAB, CBA and Westpac continue to stall on Apple Pay deal
At least a quarter of Australian consumers are being prevented from making mobile payments on their smartphones thanks to little more than the self-serving stubbornness of Australia’s three biggest banks. If you’re an iPhone user who banks with the Commonwealth Bank of Australia, Westpac or NAB, then there’s no way around it: your so-called ‘digital wallet’ is completely useless. Given 45 per cent of us use iPhones, and 60 per cent of us bank with one of those three institutions, that means at least 27 per cent of us are shut out from using this cutting edge technology entirely. But if you’re not one of these 27 per cent of […]
Crypto payments slash transaction costs
Cryptocurrency is a lucrative payments option for slashing transaction fees and building a longer-term business savings fund, a Melbourne business owner has claimed. Robert Tadros, founder of Melbourne digital media agency Impress!ve, which has 19 staff and a revenue of $3.5 million in its first two years, began accepting crypto payments for his services around seven months ago. The business accepts four of the main digital currencies: Bitcoin, Ethereum, Litecoin and Ripple. “A client who is in the online retail space reached out and said: ‘Rob, I buy a lot of my furniture from Overstocked.com, they accept bitcoin as payment; have you considered offering your service for crypto?’,” Mr Tadros […]
Samsung Pay now available for CommBank customers
From today Commonwealth Bank Mastercard customers will have access to Samsung Pay. The contactless payment platform enables CBA customers to make payments via compatible Samsung phones and wearables. CommBank already offers Android Pay but not Apple Pay. Research released this week suggested smartphones users’ loyalty to their devices was influencing their choice of banks. In a company statement, Samsung said the new partnership with CBA demonstrates their commitment “to making mobile wallets an everyday reality for millions of Australians.” To use the app CBA customers must load their Mastercard debit and credit card information to the Samsung Pay digital wallet. However the app creates a “tokenised card number” for users […]
Verrency emphasizes commitment to Fintech partners with new partnership arm and leadership appointments
Australian global payments platform Verrency has appointed two experienced entrepreneurs and venture capitalists to drive its partnership strategy to ensure fintech partners and financial institutions get the best value from the API platform. Eddie Wilson and AJ Milne have been named to lead V+, the official partnership arm of Verrency. V+ is designed to leverage Verrency’s behind-the-scenes, enterprise-grade, curated-API platform to generate opportunities for payment-enabled Fintechs around the world. While Verrency has already begun signing up Fintech partners over the last few months, these appointments demonstrate Verrency’s clear commitment to bringing the best of Fintechs to financial institutions. Wilson has been immersed in the emerging business community for many years. […]
Why parents are worried about children’s digital money habits
OUR rapid transformation to a cashless society is concerning many parents and increasing the need for new ways to pay children pocket money. Mums and dads are worried about their children’s understanding of digital money, yet four out of five parents still pay kids using physical cash. As digital spending surges with apps, tap-and-go technology and other cashless methods, 39 per cent of parents say they are concerned their kids don’t know enough about it, according to new research from financial technology and education business Spriggy. However, 78 per cent pay cash pocket money, which Spriggy co-founder Mario Hasanakos describes as “such a disconnect”, given that Reserve Bank data shows […]
