Frankie Financial powering Aussie neobank boom with new regtech
Frankie Financial announces it has signed deals with Xinja Bank and Novatti Group, as it works to provide the tools to power Australia’s NeoBank boom.
Are we looking at a cashless future?
When was the last time you paid for something with a fat wad of notes or a handful of shrapnel? Even if you wanted to, you may not have had the option – according to the Commonwealth Bank, the number of Aussies making cash payments is shrinking, while the number of businesses going completely cashless is growing. Cashless payments are becoming more and more popular around Australia, with CBA finding that a contactless or “tap” payment is now the preferred payment method for more than 90 per cent of purchases. CBA also found that between January 2017 and January 2019, contactless payment transactions have grown by 140 per cent. A […]
Blockchain payment solutions that simplify travel transactions
Fenex – a blockchain-powered payment and services solution for the travel and hospitality industry that provides a network of payment products to simplify B2B travel transactions. Fenex’s range of products will serve travel agents, hotels, airlines and tourism experience providers looking to speed up payment settlements, automate processing, reduce transaction fees and generate additional revenue opportunities. These products include the patent pending blockchain powered digital business to business payment platform (dB2B), BlocRec, and BlocTic, among others. Today, the current structure of the credit card issuance and acceptance costs in the hospitality industry can be as complicated as a 16-step process. Fenex is out to simplify this for its partners, offering […]
SocietyOne hits $600M in loans after record holiday season
Australia’s leading marketplace lender, SocietyOne, has sped past $600 million in loan originations after a record holiday period, with $64.9 million in total originations over the past three months, compared to $39.5 million over the same three months last year. The milestone comes just six months after the appointment of Mark Jones as CEO, who oversaw the launch of a broker channel in June, an improved credit assessment process in July, a marketing campaign beginning September, and an improved online customer quote and application experience from October. “We are thrilled to be growing so strongly as it’s a sure sign that Australians are increasingly turning away from one-size-fits-all options and […]
Bitcoin: Ten Years On
A mysterious, anonymous entity known as “Satoshi Nakamoto” posted a white paper on October 31 2008 entitled “Bitcoin: A Peer-to-Peer Electronic Cash System”. It was the first time that the concept of Bitcoin entered the world. But outside of the cypherpunk mailing lists – those promoting the use of privacy-enhancing technology – this event was hardly noticed. Ten years on, who hasn’t at least heard of the cryptocurrency? On just nine pages, the white paper explained how the Bitcoin system would work. Many attempts at electronic cash had already been made going right back to computer scientist David Chaum’s “Digicash” developed in the 1980s. Using an intricate dance of cryptography, […]
60% of Australians pay bills using BPAY
Australians have a knack for downplaying their greatest inventions, and BPAY is one of them. 20 years ago BPAY was introduced across nearly every bank in the country to help people pay bills and to help businesses get paid. On average people pay 5 or 6 bills a month, and around 60% of Australians pay those bills using BPAY* 88% of Australians recognise the iconic BPAY logo, as it’s on nearly every major bill in the country and in almost every internet banking platform* According to Keith Brown, BPAY Group’s General Manager of Product, Scheme & Business Development, BPAY is still growing even after 20 years of leading bill payments. […]
On The Money: Google Pay, Samsung Pay and Apple Pay explained
Over the last ten years, smartphones have replaced MP3 players, PDAs, cameras and – for some – even dedicated portable computing devices like laptops. Now, smartphone and wearable vendors are trying to replace your wallet by cementing themselves as a crucial part of the mobile payments space. If you’re confused about things like Apple Pay and Samsung Pay – here’s everything you need to know. What are mobile payments services? Mobile Payment services (also known as mobile payment platforms or digital wallets) is a term that refers services or apps that allow you to pay for things with your phone or smartwatch (via a connected credit or debit card). The […]
