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 […]
ATM use hits 15-year-low as shift to cashless society gathers momentum
ATM withdrawals have slumped to their lowest levels in 15 years and the number of Australians taking cash out during debit card transactions is falling at the fastest annual rate on record. The new figures provide an insight into the wider shift towards a cashless economy, as electronic payments such as Paypass transform habits and consumers shy away from ATM withdrawal fees and bricks-and-mortar branches. According to Reserve Bank of Australia figures released on Monday, the number of ATM withdrawals in January fell by 7.7 per cent compared to last year. The total value was down by 3.9 per cent. It follows two consecutive years of ATM withdrawals falling by […]
The Benzinga Global Fintech Awards – entries closing soon
The Benzinga Global Fintech Awards May 11, 2017 in New York, is the premier event in Fintech, celebrating financial innovation from around the world. The Benzinga Awards is a competition to showcase the companies with the most impressive technology, who are paving the future in financial services and capital markets! Applications are still open, so apply now before the March 17 deadline. At the event, you’ll get a first look at groundbreaking technology, innovative platforms, and the chance to network freely with top industry professionals. Over 550 FinTech CEOs, C-suite executives of financial institutions, VCs, press, and others attended the 2016 Benzinga Fintech Awards. 45 exclusive exhibitor spots on the show floor […]
Asia Pacific leads digital wallet adoption says Mastercard
Asia Pacific leads the world when it comes to digital wallet usage via mobile and smart devices as revealed in the 2017 Mastercard Digital Payments study. Payments via ewallet tops 83% of APAC conversations compared to 75% of global conversations tracked in the 2017 study. Consumers are also showing an increased interest in the application of new technologies to make shopping faster, easier and more secure. The topic of virtual reality generated the most positive sentiment globally and in Asia Pacific (100% positive) among emerging technology topics, as shoppers imagine completing a purchase with the simple nod of their head. “Technology is making the promise and the potential of a […]
