Google Wallet launches web app for payments
Just in time for Christmas, Google has released its new Google Wallet web app, allowing users to send and receive money via their browser. Google’s new platform doesn’t require money transfer recipients to have the app to receive payments. Cash can be sent to a friend’s email address or phone number and they can then transfer the balance to their bank account without having to install the app. However, senders must link their debit card to their Google account and have access to a browser in order to process the transaction. Google relaunched its tap-and-pay Google Wallet app as a peer-to-peer payment solution last year. The new web app is […]
Mint Payments expands travel portfolio with new partner agreement
Payments processing technology provider, Mint Payments (ASX: MNW) has partnered with one of Australia’s most affordable and adaptable travel agency software solution providers TravelPartner (Aust) Pty Ltd, signing a two-year licence and distribution agreement to deliver its fully integrated online payments processing service to its growing network of travel agents. TravelPartner has integrated Mint’s card payment module into its core SaaS product offering VTO Ultimate to enable seamless and easy credit card payment acceptance by travel agents for all travel and service fee transactions. This partnership removes the current manual effort required by the agent as the software seamlessly creates an invoice, takes payment, generates a receipt and reconciles it […]
Invapay partner with ANZ to deliver payment innovation to clients
UK based Invapay and ANZ (Australia and New Zealand Banking Group) announce that they are working together to deliver automated payments innovation to their business customers. ANZ’s vision to use technology and innovation to help solve the payment challenges faced by CFO’s has been realised by utilising Invapay’s cloud based automated payment platform. Invapay complements ANZ’s existing corporate product portfolio. In the absence of any development and integration work, the association made good sense and was easy to achieve. Adam Grant, Head of Transaction Banking, ANZ Australia had this to say of the association: “Working with Invapay has enabled ANZ to deliver a proven payables solution which allows our customers […]
ASIC lets the fintech start-ups out of the sandbox
The corporate regulator will today release its eagerly anticipated regulatory “sandbox” policy for fintech companies, enabling start-ups to test their products and services for a limited period without having to hold an Australian financial services license. ASIC released a consultation paper in June and has now completed its regulatory guidance, with commissioner John Price set to cut the ribbon. As with all these processes, the fintech industry hasn’t got everything it wanted. However, the final version from an industry perspective is said to be an improvement on the draft, putting in place a sound platform for future improvements. For a start, the AFS licensing exemption is believed to have been […]
EML boss sees cashless society as ‘tap and pay’ technology takes off
AUSTRALIA is likely to be a cashless society within a decade as “tap-and-pay” technology becomes commonplace, according to Brisbane-based EML Payments. The payment services provider is riding a wave of global demand for debit, prepaid and loyalty cards, providing transactions worth $2.5 billion for major Australian and global brands including the Good Guys, Toyota, Ladbrokes, Shell and Sprint. “Australia has one of the highest adoptions of tap- and-pay in the world, accounting for 75 per cent of transactions,” EML Payments chief executive Tom Cregan said. “In the US, it is only about 10 per cent.” Mr Cregan said the move to a cashless society in Australia had been pushed by […]
A great fintech border invasion
If ever there were a banking niche ripe for disruption, it would be cross-border payments. It almost defies comprehension that Amazon can deliver physical goods faster than a bank can make a credit entry. The reason, of course, is that remittances still meander through the 600 year-old correspondent banking system, which requires six players to link up to achieve the final outcome — the payer, the payer’s bank, the payer’s bank’s correspondent, the beneficiary’s bank’s correspondent, the beneficiary’s bank and the beneficiary. The system is clunky, opaque and extremely costly for users. Fintech was always going to find a better solution, and the machinery is now in place for far-reaching […]
Xero + Apple Pay + Stripe = Faster Payments
Xero today announced the integration of Apple Pay through Stripe, making it even faster and easier for customers to get paid. Xero’s 862,000 subscribers can now offer their customers the ability to view and pay an invoice using Apple Pay through Stripe. Invoices paid with a payment service get paid almost 80 per cent faster than invoices that don’t offer a payment service. This new feature is available automatically to everyone on Xero using Stripe where Apple Pay is available. Small business owners consistently point to delays in getting paid as one of their biggest pain points, which puts a strain on cash flow. Xero customers sent 15 million invoices […]
ANZ Strikes Again: After Apple Pay comes BladePay
The ANZ Bank, fresh from establishing itself as a satisfied customer of Apple for its Apple Pay digital wallet system for consumers, has now launched BladePay, an Android-based mobile payments solution for Australian businesses. It describes BladePay as a handheld payment device which is capable of running third-party applications and uses the Android 6.0 Marshmallow operating system. It features a 5-inch display, an 8-megapixel rear-facing camera, and a 2-megapixel front-facing camera, along with a 1/2D barcode scanner. Wi-Fi and 4G are available as connectivity options. “We are routinely told that managing payments is one of the biggest pain points for business owners, yet when we looked at the market we […]
