Facebook’s Messenger payments looms over Australia’s big banks
Facebook’s challenge to Australia’s big banks is coming as early as next year, when the social media giant is expected to introduce peer-to-peer payments within its Messenger service, hot on the heels of local banks’ expected launch of their own P2P payments network. In July, The Australian Financial Review revealed Facebook had been awarded a patent to allow it to launch Messenger payments in Australia, which will allow users to pay family, friends and groups once they have linked up a bank-issued debit card to their social media account. More than 13 million people use Facebook Messenger in Australia each month, a figure that will have local banks – who […]
10 Australian Fintech companies in the 2017 Fintech100
The Fintech100 represents the most innovative companies, creating products and services at the juncture of technology and financial services who are seeking to disrupt the existing processes and products that dominate the marketplace, with fintech companies from 29 countries featuring in this year’s 100. Congratulations to the Australian Fintech companies who made the H2 Ventures KPMG 2017 Fintech100 Top 50: 24. Prospa 37. zipMoney 44. AfterPay Touch And congratulations to the following Australian Fintech companies who made the Fintech100 Emerging 50: Airwallex Cover Genius Hyper Anna Macrovue MoneyMe Tic:Toc Valiant
ANZ and CUA among first to offer eftpos on Android Pay
ANZ and Cuscal-sponsored credit unions including CUA today announced their eftpos cardholders can now make payments using Android Pay. The nine institutions, including People’s Choice Credit Union, Sydney Credit Union, Woolworths Employee’s Credit Union, Nexus Mutual and FCCS, are the first in Australia to officially offer this payment method to eftpos cardholders, enabling almost two million people to pay using their Android mobile devices. This follows the announcement Commonwealth Bank, Westpac and NAB are collaborating to launch a mobile payments platform, Beem, to make instant contactless payments with eftpos cards. Canstar’s Group Manager of Research and Ratings Mitch Watson said the new offering meant ANZ customers would have access to […]
Peppermint tech trials a winner with Filipinos
Real-time testing of Peppermint Innovation’s mobile-phone bill payment technology is delivering significant customer insights that will assist the ASX-listed fin-tech company to fully commercialise its unique APP. During the past few months, almost 500 representative agents of Filipino businesses MyWeps, Metro Gas and SUNMar Express have been conducting ‘live’ pilot programs with their customers to help improve Peppermint’s mobile platform.At present, 70 per cent of Filipinos do not operate a bank account and millions of Filipinos receive their weekly wage in cash. They are forced to physically pay their bills in cash, causing them to travel great distances across town to ensure all of their household bills are paid. Peppermint’s […]
Novatti partners with Lightyear
Novatti Group has partnered with Lightyear.io to progress the integration of the Novatti platform into the Stellar network, aiming to build a global money transfer solution. Lightyear.io supports partner integrations for the Stellar network, an open-source blockchain network that provides interoperability between financial institutions and different payments, making cross currency and cross asset payments much faster, more efficient, and less costly. The Novatti platform is already capable of integrating with blockchain and Bitcoin technology to enable payments to and from Bitcoin account holders. Source: Novatti partners with Lightyear – The Australian
Bitcoin moves smoothly into ‘real’ cash
News that bitcoin ATMs are being installed in larger numbers around Australia shows the growing popularity of the online currency, at a time when we are using cash less and less. Bitcoin joins the thousands of currencies around the world that are generally known as ‘complementary’ to the official monetary system. But it is one of the most successful. A big draw for bitcoin users is that it is supposed to be reasonably anonymous. Once a person has signed up to the bitcoin system, the blockchain, they can set up any number of ‘addresses’ and use them for sales and purchases. Another reason for its popularity is that it cuts […]
Why SpotJobs co-founder Lewis Romano has switched into fintech and is looking to raise $10 million for Credit Clear
An Aussie fintech company co-founded by Lewis Romano of SpotJobs fame has launched a $10 million Series A fundraising round to help expand the business overseas. Credit Clear was founded in 18 months ago by Romano and prominent property developer Mark Casey to act as an online, on-demand debt payment service for individuals and businesses. The company has not raised a seed round and to date has been largely funded initially by Casey. Romano co-founded SpotJobs — one of Australia’s largest job board websites — in 2012 with Jake Williams, before exiting the business in October last year. A switch into fintech from the recruitment industry might not seem intuitive […]
Sunshine Coast business promising easier bill payment
A Sunshine Coast business is promising to take their innovative bill payment platform to the next level with Queensland Government backing from the Advance Queensland Ignite Ideas Fund. Innovation Minister Leeanne Enoch said Noosa Heads business Promis Network’s automated bill payment platform had the potential to change the lives of business operators across Queensland, nationally and globally. “Promis Network have been working on the automated bill payment platform for over a year and have some customers already established on the Sunshine Coast. This Ignite Ideas funding will allow the business to take their amazing idea to new markets,” she said. Promis Network’s automated bill payment platform allows invoices to be […]
