Australian FinTech will exceed AUD $4 Billion by 2020
A new report has found that FinTech revenue in Australia is predicted to grow at a compound annual growth rate (CAGR) of 76.3 percent and exceed A$4 billion by 2020. The research, Australian Fintech, Forecast for 2020, found that this increase was down to a reduction in taxes on investments in startups, tech-savvy digital individuals, and a rise in mobile payments. According to Research and Markets, in 2015 the Australian FinTech market produced A$247.2 million with 2016 generating further growth and 2017 predicted to continue the upward trend. The research found that there are three areas that financial technology services are focusing on in Australia that will grow by 2020: […]
ANZ moves closer towards ‘virtual’ credit cards
ANZ is moving a step closer towards “virtual” credit and debit cards, through new changes to automatically upload replacement cards for those that are lost onto customers’ smart phones. As part of its push to drive greater use of digital wallets, the bank is revamping the technical and security processes triggered when a customer reports a card as lost or stolen. About 670,000 cards are lost or stolen at the bank each year. Previously, replacement cards needed to be sent to customers before they could be used, a process that often takes several days. Under the changes, people who have uploaded their credit card details onto a digital wallet on […]
FinTech: UK Vs Australia
by Matthew Parker, The MitchelLake Group Having recently moved from the UK to Australia, I have been excited to observe and experience first-hand some of the differences between the UK FinTech ecosystem and that of its Antipodean cousin. I do not, by any means, pretend to be an expert, but I have had the privilege of working with and alongside some of the most exciting FinTech businesses and individuals across multiple markets. Any observation I am able to draw comes from a place of passion and sincere enthusiasm as well as a helpful dose of experience. So without further ado, let’s compare and contrast. The UK hit its stride at […]
Luxury Escapes books its dream holiday with zipMoney
Partnership between leading Australian travel retailer and digital payments platform enables Australians the option to travel now and pay later. Luxury Escapes announced it had become the largest Australian travel retailer to partner with ASX-listed zipMoney Limited (ASX: ZML) and is now offering Australians the option to travel now and pay later. Luxury Escapes General Manager, Blake Hutchison, said the agreement with zipMoney meant Luxury Escapes’ million-plus members now have the flexibility to book their holiday today and pay over time in interest-free instalments. “Luxury Escapes is delighted to partner with zipMoney to simplify our members’ online travel booking experience,” Mr Hutchison said. “We want every […]
Octet forms alliance with Mastercard to give businesses a better way to pay
Octet Finance, the Australian company revolutionising the supply chain finance industry for small and medium businesses, has formed an alliance with Mastercard to enable businesses to pay global suppliers safely, securely and quickly. The alliance will enable Mastercard’s members to offer their B2B clients the ability to make cross-border supplier payments using their existing Mastercard debit and credit cards. Octet users will benefit from the integration of Mastercard’s cutting edge payment offerings, such as the Mastercard Payment Gateway Services (MPGS) and the configurable Virtual Card Number (VCN) feature, on the Octet platform. Octet Finance is the supply chain technology platform that enables payments to be made through the secure Mastercard […]
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 […]
