H2 Ventures announces new startups following fresh funding
The co-founder of fintech accelerator H2 Ventures, Toby Heap, has warned Australia’s big four banks that they are underestimating the wave of digital disruption taking place in their sector, as it announces its next intake of hopeful startups. H2’s next group of entrepreneurs will range from a startup that provides people with their own personal chef, called DishMe, to a social sporting platform that lets sport fans compete against their friends during live matches, called FanTrade. To date 25 startups have gone through the accelerator program, including online marketplace for home loans HashChing, which raised $1 million from Sapien Ventures last year, and crowdfunding platform Equitise, which also raised more […]
Expensify launches expense claim reimbursement in Australia
Expensify, the world’s fastest-growing expense reporting software, announced today expense claim reimbursement capabilities for Australian customers. Rather than reimburse employees via payroll or cheques, Expensify customers can now issue reimbursements from Expensify, making the expense claim process easier than ever for companies of all sizes. Reimbursement will work with all major Australian banks including NAB, CBA, Westpac, and ANZ. This announcement comes during the Accounting Business Expo, Australia’s largest business and technology conference for finance and accounting professionals. “Our vision is for expense management to happen entirely automatically, behind the scenes, without business travelers and employees wasting any time tracking receipts or even opening our app,” says David Barrett, CEO […]
Facebook meets FinTech
Banking has come a long way since the stamped passbook. Social media has come a long way since the simple status update. Can the two intersect? Social media is transforming banking relationships almost as quickly as it has changed our interpersonal communications. With the rise of interfaces such as Facebook, Twitter and Instagram as well as fintech start-ups such as Tyro and Coinjar, financial outlets can use social media for everything from improving customer service to allowing users to send money to others via online platforms. Emerging fintech companies like Movenbank are using social media data to help people get access to credit or even simply open a bank account. […]
iSentric enters Fintech partnership and collaboration with Public Bank to introduce mobile payment solution
iSentric Ltd (ASX:ICU) is pleased to announce that its wholly owned subsidiary iSentric Sdn Bhd which specialises in financial technology solutions has entered a collaboration agreement with Public Bank Berhad (“PBB”) to jointly develop and introduce a mobile payment solution for the Malaysian market. The mobile payment solution will adopt similar mobile technology as other mobile payment service providers such as Apple Pay, Samsung Pay, Alipay and Tenpay. iSentric will be the sole solution provider for PBB for processing payments from merchants. The mobile application will be made available on Android and iOS platform and will contribute towards the progress of the payment ecosystem in Malaysia. This new FinTech driven […]
Emerging fintech star Afterpay lands major contract with Myer
Afterpay, the “take now, pay later” platform that’s quickly forming partnerships with some of Australia’s biggest retailers, has secured a two-year contract with Myer. The publicly-listed payment platform, which lets shoppers receive products immediately from participating retailers and then pay Afterpay for their purchases through a number of instalments, announced to the Australian Securities Exchange yesterday that it had entered into a two-year agreement with the department store to allow shoppers to use the platform when shopping online at Myer from May. Afterpay managing director Nick Molnar told SmartCompany this morning the deal is another step in the company’s quest to dominate the Australian retail market. “I think with a department store like Myer, […]
Mobile technology is revolutionising the way SMEs get paid
We all know cash is fast becoming a thing of the past, and as the world becomes increasingly ‘digital’, it’s not surprising that people are buying goods and services a lot more through mobile devices. It’s therefore no surprise that mobile technology has driven advancements in the payments industry, making it easier for consumers to make purchases on-the-spot. This has created opportunities for retailers like never before — for example there are digital apps that allow customers to order and pay for their morning coffee while still on the commute to work. So you would think it would be safe to assume there would be a growing trend in the […]
Westpac buys stake in Lantern Pay to help deliver NDIS
Customers of the federal government’s $22 billion National Disability Insurance Scheme will be able to pay for health services through a new platform to be rolled out by Westpac Banking Corp, which has taken a 10 per cent equity stake in payments firm InLoop. InLoop is the parent company of Lantern Pay, which has created a “digital wallet”, or mobile application, that lets customers of government-backed medical services schemes monitor budgets. Lantern Pay pays service providers up front before claiming the payments back from the government. The deal is an example of the policy shift towards “consumer-directed care” in government medical schemes including the NDIS, which puts customers in control […]
Tap and Go Technology Reigns in Australia
The latest Mastercard Digital Purchasing Survey reveals that Australian consumers are continuously embracing digital payment technology, with more than four in five (82 percent) Australians using tap and go to make payments every week. In fact, over one third (33 percent) of Australians have been annoyed when a store didn’t offer tap and go, and one in ten have even gone as far as avoiding a store that they knew didn’t offer it. Australians are most frequently using contactless cards at supermarkets (54 percent), general retail stores (22 percent) and petrol stations (11 percent). Garry Duursma, Head of Market Development and Payment Innovation for Mastercard Australia and New […]
