Fintech funding pressures banks
The big banks’ allegedly sluggish adoption of a regime to boost the flow of credit data among financial services companies will come under the spotlight of the Productivity Commission as the federal government steps up efforts to stimulate the burgeoning fintech industry. Scott Morrison yesterday revealed a range of measures to support financial technology companies, including cutting GST on digital currencies, such as bitcoin, and clarifying tax concessions for venture capital (VC) investments in fintech start-ups. The Treasurer also commissioned the Productivity Commission to review so-called comprehensive credit reporting and “outline options to increase data availability”, strengthening its scrutiny of the regime. “Fintech advances have the potential to radically transform […]
Media Release – Turnbull Government backing FinTech
Prime Minister Malcolm Turnbull and Treasurer Scott Morrison today announced the establishment of an expert advisory group to help make Australia the leading market for financial technology – or FinTech – in the Asia Pacific region. Financial services is the largest sector of our economy, employing around 450,000 people and contributing over $140 billion to the economy last financial year. Although Australia is a leading financial services market in the region, the sector is becoming increasingly globalised and exposed to technological disruption. Many traditional financial products are being disrupted by the FinTech sector, which is well positioned to become a leading player in the Asia-Pacific. FinTech is at the cutting […]
Blockchain and how it will change everything
In May, British billionaire Richard Branson invited a select posse of entrepreneurs, venture capitalists and technology advisers to his Caribbean residence for an exclusive pow wow on an issue occupying some of the top markets minds in the world. The topic for discussion on the picturesque Necker Island was the “blockchain”. “Every now and then, something comes along that might just change everything. And this is one of those moments,” ASX chief executive Elmer Funke Kupper. In case you’re one of the many yet to wrap your head around the promising technology, blockchain, on a simple level, uses computer code to engender trust in digital-economy transactions. One of the attendees […]
MINT PAYMENTS PRESS RELEASE
MINT PAYMENTS SIGNS AGREEMENT WITH AWARD WINNING TRAVEL AGENCY SOFTWARE SOLUTION PROVIDER PROCESSING $4 BILLION IN TRAVEL SPEND Sydney, 1 February 2016: Payments processing technology provider, Mint Payments (ASX: MNW) (Mint or the Company) has partnered with multi award winning travel agency software solution provider Tramada Systems (Tramada), signing a three year licence and distribution agreement to deliver its fully integrated online payments processing service “Minternet”. Through the use of Minternet’s Application Programming Interface (API) software, Tramada has developed an integrated credit card module (tramada® Payment Gateway) that will be offered to all of its customers as a core product offering within Tramada’s suite of travel agency software solutions. Mint […]
