Global recognition continues for payments provider Verrency
Australian global payments provider Verrency has been named a finalist for the Top PayTech Innovation at the inaugural UK PayTech Awards 2018. The award category recognises PayTech companies that have been genuinely innovative within the finance and payments industry. Verrency was founded by experienced payments and banking innovator David Link and banking technologist Euan Walker in 2016. Verrency delivers Innovation-as-a-Service to financial institutions with its payments API platform and FinTech marketplace, which have been specifically designed to enable Tier 1 financial institutions to cost-effectively deliver value-added services to their customers without needing to replace or heavily modify their existing payments infrastructure. David Link, Founder and CEO of Verrency, said: “I’m […]
PayWave: Australia will soon be ‘entirely cashless’
Cash could become a distant memory as soon as 2026, according to startling new predictions from experts. According to data from the Reserve Bank of Australia (RBA)’s ongoing Consumer Payment Methods survey, the percentage of cash payments in the country plummeted from 69 per cent in 2007 to just 37 per cent in 2016. A projection of that data by comparison site finder.com.au has revealed that if the current trend continues, physical cash could vanish in Australia as soon as 2026. It’s even earlier than the predicted expiry date of ATMs, with an analysis of RBA statistics by finder.com.au showing they could disappear from our streets by 2036. Finder’s money […]
Australian charities adapt to cashless society with arrival of Apple Pay
The charity sector needs to adapt to a world without cash, according to the CEO of Cancer Council Australia, which is set to be one of the first Australian charities to use Apple Pay. ANZ announced on Tuesday that Donate with Apple Pay would be available on its Shout For Good fundraising platform, providing more than 60 of its aligned charities with an “easy and secure way to offer digital payments”. Apple Pay allows Australians to donate to charities through their mobile phone, or online, and eliminates the need to enter billing and contact information, create an account or fill out long forms to check out. Cancer Council Australia will […]
Square’s Jack Dorsey muscles in where banks have failed to serve
Billionaire Square co-founder Jack Dorsey says big banks have allowed his payments disrupter to muscle in on their territory by breaking the trust of customers and serving small business borrowers poorly, or not at all. Mr Dorsey, who also co-founded social media platform Twitter, said a long history of corruption had tarnished the reputation of the financial services sector, but with Square he hoped to restore trust in the industry. “The banking industry was invented in the 1600s in Florence and there has been corruption ever since,” Mr Dorsey said while in Melbourne for the second anniversary of Square’s local launch. “It’s not something that’s new to a particular country, […]
Square boosts Australian business with new HQ and engineering hub
Square today announced it is expanding operations in Australia, opening a new, larger headquarters to support the growing team in Melbourne, which will include the company’s first engineering hub outside of North America. Square co-founder and CEO, Jack Dorsey, was in the new Melbourne CBD location today to make the announcement and celebrate the company’s two-year milestone of providing payments to Australian businesses. “We have been humbled by the support Square has received from Australia’s business community over the past two years,” said Jack. “Australia is an important market for Square, with more and more businesses joining our platform every day.” In addition to increasing engineering capabilities, Square has received […]
Afterpay lands in the US, keen for a slice of $3.8 trillion market
Afterpay (ASX: ATP) has taken its first steps into the United States market through a landmark deal with the parent company of consumer lifestyle brand Urban Outfitters. This week the company launched its payment plan services across the URBN network, which includes brands Anthropologie, Free People and Urban Outfitters, comprising one of the largest fashion and lifestyle retailers in the US. URBN boasts a total sales volume of US$3 billion across its bricks and mortar and digital channels, a figure equal to roughly the size of the entire Australian online fashion market. Afterpay says the US market represents a substantial opportunity for its business, as retail sales exceeded $3.8 trillion […]
FinTech Australia announce finalist for The Finnies 2018
FinTech Australia and Jobs for NSW have come together for the second year to host the national fintech awards, The Finnies. The Finnies will culminate in a Gala Awards Night Wednesday 13 June 2018 in Sydney. For more information go here. Here is the full list of finalists for the 2018 Finnies: Best Workplace Diversity ● BRICKX ● FirstStep Investments ● Link4 ● Valiant Finance Emerging FinTech Leader of the Year ● Brad Delamare – CEO, Tank Stream Labs ● Louis Edwards – Head of Renewable Energy Finance, RateSetter Australia ● Nick Molnar – Co-Founder & CEO, Afterpay ● Jack O’Reilly – Director, funding.com.au ● Rebecca Schot-Guppy – Community Manager, […]
MYOB and BPAY join forces to offer a new payment option for Australian small businesses
MYOB has collaborated with BPAY to add a new payment option to its Invoice Payments solution. The collaboration will see MYOB, one of Australia’s leading providers of business management solutions, offer BPAY payments solutions to small businesses, in addition to the existing credit card payment option as part of its online business solutions. MYOB’s payment software helps small businesses get paid four times faster MYOB’s customer data shows that, on average, businesses take 42.6 days to get paid, while those who convert to MYOB merchants and accept electronic payments directly through the platform are paid in under 10 days. “We know cashflow is one of the big pain points […]
