Square expands its Australian offering with iconic Square Stand
After 18 months of strong local growth, Square continues to expand its presence in the local market, introducing more products and services to help a wider range of Australian businesses. From today, the iconic Square Stand for contactless and chip is available across the country. Gone are the days of large point-of-sale systems, clunky cash drawers, piles of paper receipts, and cluttered countertops. Square Stand for contactless and chip is the first out-of-the-box solution to turn an iPad into a fully integrated point-of-sale system, allowing businesses to take payments and run their entire operation from their countertop device. With tens of thousands of businesses now using Square across the […]
Peppermint enter lucrative gateway services market
ASX listed fin-tech player Peppermint Innovation’s rollout of its unique technology platform has taken a big step forward after the Perth-based company struck a further deal with UCPB, one of the Philippines’ largest banks. Peppermint, who are currently focused on the commercialisation and development of their mobile-phone based bill payment technology said they had inked a deal with UCPB to roll out internet payment “gateway services” in the Philippines for the giant lender. UCPB’s online mobile banking system is already powered by Peppermint technology and the latest deal relating to gateway services represents an extension of the commercial relationship between the two parties. UCPB’s internet payment gateway, facilitated by Peppermint, […]
Ignore bitcoin at your peril, naysayers warned
It’s taken three weeks for bitcoin to erase the losses it suffered when JPMorgan chief executive Jamie Dimon dismissed the digital currency as a fraud.
Pocket money should be electronic to match kids’ spending
PARENTS are being urged to pay pocket money in a digital form as traditional cash nears extinction. While some advisers still recommend teaching children money skills using dollars and cents, there’s a strong chance that today’s primary school students will rarely — if ever — transact with cash. Many of their most common purchases — such as snacks at school, music and video games — are already bought online, and the trend has sprouted a new breed of digital pocket money options. Claire Morris, co-founder of online gift card marketplace Prezzee, said digital pocket money made it easier for parents to monitor spending and saving. “Cash is harder to keep […]
Fitbit Pay launches with ANZ, CBA and NAB
Forget having to carry your card in your sports bra whenever you go for a run or figuring out where to stash your wallet the next time you go for a swim. Fitbit is the latest company to jump on the contactless payments bandwagon with the recent launch of Fitbit Pay. And today, it has announced a massive partnership with Aussie banking giants ANZ, CBA and NAB that will kick off next Monday. Fitbit has also confirmed that it’s in talks with Westpac, Bendigo Bank, St.George and some other regional banks for future partnerships. Available with the new Fitbit Ionic smartwatch, customers of the three big banks can link their […]
No reason why Australia should not be a global leader in the fintech sector
by Scott Morrison MP, Federal Treasurer Digital disruption in financial services is changing the world. The opportunities that spring from this disruption, in a region with an Asian middle class increasingly empowered by choice, are there for our taking. Recently I travelled to Beijing to lead our representation at the Strategic Economic Dialogue with the Chinese government, and meet with major Chinese firms who are investing in Australia. Among the encouraging signs of China’s pursuit of sustainable economic growth, the prudency in which it is addressing debt and its continued openness to trade and investment, is the pace of digital change within their economy. While Silicon Valley, London or Singapore […]
Woolworths & Apple alliance set to increase Aus digital wallet use
Customers of Australian grocery giant Woolworths will soon be able to acquire and redeem rewards points through Apple’s Wallet App. The retailer has made an agreement with Apple to store its loyalty cards within their digital wallet. The decision is tipped to significantly increase the uptake of digital wallets within Australia. With about 10 million members, Woolworths is said to boast the largest customer loyalty reward scheme in Australia. Though not every member will have an iPhone, nor be inclined to use Apple’s digital wallet. Reports state Apple and Woolworth will announce the agreement this week, prior to a launch in mid-October. Paul Monnington, Woolworths’ Head of Digital and Payments, states the decision is […]
The future of FinTech
In case you haven’t noticed, FinTechs (short for financial technology) are moving in fast on the traditional financial services world – or at least they’re trying to. You’ve already been swept up in the FinTech revolution if you use a bank app or contactless credit card chip, pay in Bitcoin, transact with PayPal or take part in crowdfunding or peer-to-peer (P2P) lending. The FinTech movement The idea behind FinTechs is to cut out the middlemen, streamline the process, and give customers a better experience than what’s traditionally been on offer from the banks, which, among other shortcomings, can still take a few days to process a simple electronic deposit. The […]
