Novatti just started making pots of money from its Alipay bill website
Novatti isn’t buying Australian milk to send to China, but has found another way to tap the moneyed Chinese population at home and overseas. The company says its gamble on a payments service for China residents to pay bills in Australia is paying off so well they’re looking at transaction volumes rising from $460,000 in January 2019 to an estimated $700,000 in February. In the December quarter the dollar value of transactions still only averaged $200,000 a month. As to the reasons for the pick-up? Novatti CEO Peter Cook attributed it to an increasing level of trust as the product spends more time on the market. “We think it’s partly […]
JPMorgan Chase to create digital coin using blockchain
JPMorgan Chase plans to launch its own digital coin, called “JPM Coin”, that customers will be able to use for instant transfer of payments over a blockchain network. The largest US bank by assets said customers, on depositing money at the bank, will be issued the cryptocurrency that can be used for transactions over the network with other JPMorgan clients. The coin can be redeemed for a US dollar, so its value will largely remain stable, the bank said. When one client sends money to another over the blockchain, JPM Coins are transferred and instantaneously redeemed for the equivalent amount of US dollars, reducing the typical settlement time, the bank […]
The finalists of the 2019 Fintech Business Awards have been announced
The finalists of the 2019 Fintech Business Awards have been announced. Congratulations and good luck to all the finalists – both individuals and companies.
XRP reaches Australia as FlashFX adopts Ripple’s cryptocurrency
In a move that has given a boost to the cryptocurrency market, FlashFX, a payment transfer platform, has announced the launch of its latest cross border payment solution using XRP that is targeted to improve the concept of foreign exchange in Australia. Nicolas Steiger, the Chief Executive Officer of FlashFX stated that: “We are excited to be part of the evolution in international payments processing. It’s about time that consumers and businesses saw a meaningful change in how money is sent across borders. The service provides an alternative for Australians who want to send a payment faster and cheaper than banks currently provide.” FlashFX has always worked with the mantra […]
CashDeck app Wealth Desk is a game changer for mortgage brokers
CashDeck have released their Financial Fitness Tracker app called Wealth Desk for Apple and Android and it’s set to be a game changer for the 65% of mortgage brokers who find marketing and lead generation a challenge. The app is a simple tool that helps clients prepare for the lending process. But, for the broker, it acts as a sales tool, an ice-breaker, a database builder and a way to get their business onto thousands of smartphones. “Twelve months ago we set ourselves three goals”, said Owen Joyce, CashDeck’s Chief Commercial Officer. “One, build an app that is useful to its user in less than two minutes after they download […]
How game theory and Blockchain can help support a better banking network
Banking today is far from what it used to be. Increasingly, in order to power the services that consumers demand, banks need to have access to wider arrays of tech as well as new methods of interaction and transaction. While this may seem like it would only lead to further inefficiencies in banking, it can actually streamline the industry thanks to new innovations in blockchain tech, all taking inspiration from game theory. Modern banking, the type that you access on your phone when you deposit a check with a photo or when you send money using Venmo, often functions according to a Banking as a Service (BaaS) model. This lets […]
Nod closes $2m funding round to support platform growth
The multi-award-winning artificial intelligence platform, known simply as Nod, has confirmed it has successfully closed its over-subscribed pre-Series A round of AUD$2m. Nod was recently awarded a coveted spot on the KPMG H2 Ventures Fintech100 and has developed a patent pending algorithm that utilises artificial intelligence to create real-time Statements of Advice for Financial Advisers and Accountants. Whilst this is the space where they have chosen to first apply their technology, Co-Founder and CEO, Joel Robbie, says the platform has been developed to be industry agnostic: “We are really excited about the impact we are having on document completion times in the Financial Advice industry! The platform is having genuine […]
Cabcharge now integrates with Google Pay for Digital Passes
Ever since we’ve had taxis, we’ve needed to get someone else to pay for our rides. Whether it’s a gift to help and loved one get somewhere or a business expense to ferry someone from point A to point B, figuring out how that payment will work has presented some challenges over the years. Australia’s Cabcharge system has been helping Australian businesses to manage travel and expenses for a long time now, and is committed to keeping pace with technology to help businesses manage these more easily and efficiently. They’ve recently launched Cabcharge Digital Pass alongside a brand refresh, bringing their payment system into Google Pay on your phone to […]
