International transfer provider OFX launches developer portal with international payments API
ASX listed foreign currency exchange company OFX (formerly OzForex) today announced the launch of a developer portal.
Smartpay secures fintech connection with Alipay
Dual-listed payments facilitator Smartpay (ASX: SMP) has signed a cornerstone agreement with Alipay, China’s largest payments provider with around 520 million active users and clearing around $1.7 trillion per year in transactions. The deal brings together the largest online payments provider in China and the largest independently-owned EFTPOS provider in Australia — a deal that could serve as a watershed moment, opening the door for other similar agreements amongst smaller players in the near future. The deal also means that Australian consumers will obtain a far wider range of payment and money transfer options than before. Smartpay said that “harnessing this reach will both boost the merchant’s revenues and benefit […]
Australian payments innovator Verrency partners with social media donation platform Goodworld to increase charitable giving worldwide
Social payments charity platform Goodworld and Australian payments innovator Verrency announced a partnership today to bring a charitable component to everyday financial transactions around the globe. The partnership will combine Goodworld’s service with Verrency’s banking payment services to create a new Corporate Social Responsibility offering aimed at major banks. The joint offering will enable bank’s customers to ‘set and forget’ a ‘round-up’ of their debit and credit card transactions to the nearest selected amount (i.e., $1, $5 etc) and to donate the ‘round-up’ amount directly to their preferred charity. Customers then receive real-time reinforcement via mobile notifications from their bank’s mobile app of their donation, along with regular updates of […]
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 […]
