Smartpay secures fintech connection with Alipay
Dual-listed payments facilitator Smartpay (ASX: SMP) has signed a cornerstone agreement with Alipay, China’s largest payments provider with around 520 million active users and clearing around $1.7 trillion per year in transactions. The deal brings together the largest online payments provider in China and the largest independently-owned EFTPOS provider in Australia — a deal that could serve as a watershed moment, opening the door for other similar agreements amongst smaller players in the near future. The deal also means that Australian consumers will obtain a far wider range of payment and money transfer options than before. Smartpay said that “harnessing this reach will both boost the merchant’s revenues and benefit […]
Australian Fintech, Forecast for 2020
Telecoms Market Reports has been published today new report. It provides updated in 2018 year analysis of Telecoms and Computing Industries. Australian FinTech revenue will grow at a CAGR of 76.3% and exceed A$4 billion by 2020, driven by reduced taxes on investments in startups, steady increase in mobile payments, and rise of Tech-savy digital natives. The Australian Fintech Sector generated A$247.2 million in 2015. Sharp growth in the Fintech market in 2016 and 2017, followed by steady increases through to 2020, is likely spur growth. This research defines the Australian FinTech sector as comprising three market segments: digital payments, personal and business finance, financial infrastructure and data analysis. Each […]
Tatts CEO Robbie Cooke joins fintech firm
A small business banking and payment services company has snared the services of outgoing Tatts chief executive Robbie Cookie. Mr Cooke will leave Tatts in March after five years as CEO, following the lotteries and gambling firm’s recent $11.3 billion merger with Tabcorp. He will then take on the role of chief executive of Tyro, which began as a provider of EFTPOS services in 2005 and has recently begun offering lending and deposit products to more than 20,000 small and medium businesses. Mr Cooke, who was chief executive of hotel booking website Wotif.com prior to joining Tatts, said he will lead Tyro through the next stage of its growth. “I […]
Australian FinTech Tyro launches SMB services
Australian bank Tyro is introducing new services for its small- and medium-sized business (SMB) customers. The new services include lending products, reports in The Adviser said, that provide SMB borrowers flat-fee business loans that can be provided in minutes. The FinTech is also providing banking services via SMB deposit accounts that integrate with cloud accounting solution Xero. The solution supports batch payment scheduling and payroll and earns daily interest. Tyro added that the account is also compatible with iPhones, which can be used by SMBs to pay bills. The firm is also launching an EFTPOS (Electronic Funds Transfer at Point Of Sale) technology that integrates with point-of-sale solutions for SMBs. […]
Australians are increasingly using their phone as a credit card: Deloitte
The pressure is on Australian banks to keep up with customer’s growing use of smartphone apps to pay for in-store and online purchases. A Deloitte survey has found the use of mobile payment solutions has grown 14 per cent over the past year, with over a quarter of respondents now using them. Mobile payment solutions include apps such as Apple Pay, Samsung Pay and Android Pay, which allow users to process payments for online or in-store purchases using the app, without having to punch in their credit card details every time. Most of these apps act as “mobile wallets”, allowing users to store their card details and authorise payments using […]
CoinJar is the Aussie enterprise bringing Bitcoin into the everyday realm
Although Bitcoin is one of the most widespread Internet currencies, it can seem intangible compared to EFTPOS or cash. CoinJar is a Bitcoin platform based in Melbourne which offers users a seamless way to pay for anything with digital currency. Making use of an EFTPOS card means that CoinJar isn’t only for online purchases, but can give consumers more choice about their daily purchases. With the core intention of transforming the way money flows within and between communities, CoinJar is used by 70,000 customers worldwide. Techly spoke to Asher Tan, the co-founder and CEO of CoinJar, about what makes the Aussie Bitcoin biz tick. Explain what CoinJar does, and why […]
