News about fintechs, start ups and innovative ideas in the payments space
Despite an RBA prompted inquiry into A2A and plenty of warnings from fintechs like Zepto and Volt, a lack of industry coordination or tough regulation looks set to keep BECS operating well beyond 2030.
Fintech
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Monoova has launched a new payments plugin for WooCommerce, enabling Account-to-Account (A2A) and traditional card payments.
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Cuscal and ASL this week fired the opening salvos in their emerging war for outsourcing mandates in the mutual banking sector.
Azupay has integrated passkeys across PayTo payments to provide its customers with an additional security layer which is seamless to use, amidst growing concern in the advancement of fraud tactics.
Payments industry veteran Kirsty Rankin has pulled stumps on her time as a director of Azupay.
Tyro Payments has gone into a trading halt pending a further announcement expected by Thursday.
NAB has launched its new PayID Receivables service with a little help from Sydney based Fintech Azupay.
Luxembourg-based Banking Circle is preparing to challenge Cuscal’s dominance of payments outsourcing after local regulators approved its buyout of Australian Settlements Ltd.
Fiserv is being sued in the US over the migration of its merchants to Clover and for allegations it misled investors about the point-of-sale’s platform growth.
Quest Payment Systems has partnered with Coles Group to update its payment terminal fleet across more than 2,000 supermarkets and liquor outlets in Australia.
Assistant Treasurer, Dr Daniel Mulino, has introduced legislation that paves the way for the Government to tackle payments issues such as the dominance of Apple Pay on mobile and blended rates for card payments.
Fresh from its yet to be finalised deal with Luxembourg bank Banking Circle S.A, ASL is marching ahead with its product offerings, launching PayTo send capability this week enabling its customers access to “a fast, secure and efficient payment solution”.
Gumtree Australia has partnered with PayPal to offer PayPal Pay in 4 to its customers through their new payment platform called Gumtree Pay.
With increasing complexity around digital payments, a new breed of payments consultant is emerging in Australia focusing on niche specialisations to help businesses meet new challenges.
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Australian payments provider Tyro is partnering with Belgian business management software outfit Odoo to provide an all-in-one payment experience for small businesses and their customers in Australia.
Can Beem finally win against Apple, or has the horse bolted?
Aussie payments outfit Airwallex has announced a multi-year partnership with football legends Arsenal Football Club that will see the platform become the club’s Official Finance Software partner.
Despite not being subject to AUSTRAC rules, Next Payments has taken its own initiative on illegal tobacco, shaming banks and others that continue to provide terminals. CEO Tim Wildash simply says, "no (tobacco) licence, no ATM".
Cash
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Jenny Fagg, the banker who built the business case for the New Payments Platform, joins PayPal Australia as an independent director
US payments giant PayPal is entering the Australian entertainment business, partnering with Ticketek to offer payments and buy now, pay later (BNPL) options to buy tickets for live concerts.
With the cost of card payments firmly in the spotlight, it seems a good time to ask - why aren't Australian merchants and regulators doing more to support and promote cheaper, alternative rails like account-to-account (A2A) payments?
Publication of the RBA’s payments roadmap put Tyro’s share price under pressure on Tuesday, but the business fallout will be more widely distributed in the payments sector.
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Three fintechs have teamed up to help Aussie businesses stay ahead of regulatory change in payroll and superannuation.
With a series of heavy-duty acquisitions, Shift4 is poised to enter the Australian market with serious capabilities and a ready-made customer base.
On July 2, the NSW Supreme Court gave major investors Silva Fortune and NGP Investments access to Till financial records, that may also reveal whether Till’s acquisition was at arm's length.
