foreign exchange

Oct
19

Cross-border payments set for ‘unprecedented change’

The cross-border payments industry is seeing levels of “unprecedented change” globally, including in regulation, where Australia is struggling to keep apace despite the competition watchdog’s probe into the $9 billion foreign currency transaction market. That’s the view of OFX chief executive Skander Malcolm who identifies three themes dominating cross-border payment, including that a larger number […]

By Reposted by Australian FinTech | Currency . FinTech . Payments
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Oct
03

World’s largest crypto exchange Binance invests $3.5 million in Australian startup TravelbyBit

Cryptocurrency exchange giant Binance today announced it is investing over USD$2.5 million (AUD$3.5 million) in TravelbyBit, the Australian startup responsible for facilitating the world’s first digital currency-friendly airport in Brisbane. The cryptocurrency powerhouse will work with TravelbyBit to introduce a global point-of-sale (POS) payment system, incorporating blockchain technology into major airports around the world. Changpeng Zhao, CEO of […]

By Australian FinTech | Bitcoin . Blockchain . Currency . FinTech . Investing
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Sep
20

Fintech 101: Core concepts for the future of banking

Everyday it feels like someone, somewhere has coined a new banking term. But as Australia continues to take big steps towards innovation, the average Aussie might feel left in the dark when it comes to understanding what’s in store for the future of banking. So to keep you in the loop with all the latest […]

By Reposted by Australian FinTech | Banking . FinTech . Investing . Payments . Robo-Advice
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Sep
13

Peppermint’s Bizmoto now remitting to India

Peppermint Innovation Limited announced its international remittance business, Bizmoto, had ‘opened’ up a transfer corridor to India, the second largest global remittance market for Australia in 2017. The activation means people living in Australia can now use Bizmoto’s online portal at www.bizmoto.com.au to send money to their family, friends or relatives in India. Bizmoto will […]

By Australian FinTech | Currency . FinTech . Payments
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Sep
04

Australia to trial a SWIFT-er cross-border payments service

SWIFT, the organization providing messaging and standards frameworks to financial institutions, will start trialing its new real-time cross-border payments service in the Asia Pacific region, initially focusing on inbound payments to Australia. With the new instant global payments innovation (gpi) service, banks can improve customer experience by providing faster P2P remittances and SME trade settlement. […]

By Reposted by Australian FinTech | Currency . FinTech . Payments
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Sep
01

Australia just lost one of its most promising fintech startups, Airwallex, to Hong Kong

Tencent-backed payment operator Airwallex has become the latest fintech company to show interest in joining Hong Kong’s virtual banking push. Airwallex co-founder and chief executive Jacky Zhang said the company will team up with a traditional bank and other local partners as part of the application process, although he declined to reveal their identities. “We […]

By Reposted by Australian FinTech | Currency . FinTech . Payments
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Aug
26

Aussie Fintech Airwallex founders win Entrepreneur of the Year

The founders of an Australian Fintech company, Airwallex were named Entrepreneur of the Year in the EY South Regional Awards. Founders CEO Jack Zhang and COO Lucy Lui both won the Fintech category and will progress to the nationals where the winners will move on to the international round. The event was hosted by EY […]

By Reposted by Australian FinTech | Currency . FinTech
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Aug
06

OFX’s UK e-money licence shows up relatively sluggish Aussie fintech laws

ASX-listed online foreign exchange provider OFX will issue a trading update alongside its annual general meeting on Tuesday, and it is part of its aspirations to be a fintech player of global scale. A central element to this vision is the ability to expand its range of payment services. And so its announcement last week […]

By Reposted by Australian FinTech | ASX . Currency . FinTech
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