Fintech
News about fintechs, start ups and innovative ideas in the payments space
Fintech
+1
May 13, 2026
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Banking Circle customer chaos - first Binance and now Revolut’s $3m zombie PayTo fraud bungle
Hundreds of zombie Revolut accounts have been used to fleece about $3 million using fraudulent PayTo requests via Banking Circle’s tech stack ... but nobody wants to talk about why it wasn't spotted sooner. The "incident" follows another Banking Circle customer - Binance - having to be unplugged unceremoniously from the New Payments Platform (NPP) in January.
Fintech
+1
May 13, 2026
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Bonza and Revolut show how PayTo can go wrong ... but who pays the bill?
Who pays for PayTo fraud and chargebacks is an issue that needs to be ironed out quickly as transactions grow in the market. Monoova confirms what consumers don’t want to hear - “it’s complex”.
Fintech
+1
May 13, 2026
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CBA selects FIS to streamline reconciliations
The Commonwealth Bank (CBA) has enlisted the help of FIS to consolidate and automate reconciliation across the bank, with the solution to process over 150 million transactions daily.
Fintech
+1
May 13, 2026
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Online gambling bans to impact PSPs and fintechs
Payment Service Providers (PSPs) and fintechs are likely to lose a raft of lucrative customers after the Prime Minister announced that bans on online gambling products are being strengthened.
Fintech
+1
May 13, 2026
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Paperwork: Why Xero won't join Australia's open banking yet
Xero is still sitting outside Australia's Consumer Data Right regime, blocked by a bank-administered paper form for so-called "nominated representatives" that 6 in 10 small business customers never manage to sign.
Fintech
+1
May 6, 2026
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NAB-backed Banked quiet in Aussie market as local boss moves to Stripe
Former Banked and Waave boss Ben Zyl has moved to Stripe, as his former employer goes quiet in the Australian market and key customers appear to have moved on.
Fintech
+1
May 6, 2026
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Revolut shuts down PayTo after “incident”
Wannabe Aussie bank Revolut has turned off PayTo following an unexplained incident, with its New Payments Platform (NPP) access provider - understood to be Banking Circle - AP+ and regulators clamming up when approached for comment.
Fintech
+1
May 6, 2026
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Westpac and NAB ramp up as paytechs grab small business lending
Australia's banks are finally waking up to small business as data driven payments operators like PayPal, Square, Tyro, Stripe and BNPL offer easier credit options through “embedded finance” often linked to transactions.
Fintech
+1
Apr 29, 2026
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Adyen partnership sees big savings for 1Cover
Travel insurer 1Cover claims a $35,000 saving by streamlining its payments stack through Adyen partnership.
Fintech
+1
Apr 29, 2026
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Ant International & Citi launch PayTo for Australian SMEs
Ant International and Citi plan to launch PayTo on Ant’s service in Australia aimed directly at the small business market.
Fintech
+2
Apr 22, 2026
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Global processor Paymentology partners with Cuscal and Constantinople to expand into Australia
Global issuer-processor, Paymentology is expanding down under forming strategic partnerships and marking a significant milestone in its global expansion strategy.
Fintech
+1
Apr 22, 2026
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Mystery to shroud BECS future until July: AusPayNet
Despite potential impacts on NPP-centric fintechs and other payments stakeholders, AusPayNet won’t make public the results of its assessment of options to upgrade the Bulk Electronic Clearing System (BECS) until July.
Fintech
+1
Apr 22, 2026
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Sydney’s Hello Clever teams with Checkout.com on global AI and rewards play
A new deal with Checkout.com aims to further expand Sydney based Hello Clever’s international growth strategy, having already established regional headquarters in Singapore, New York, and Tokyo.
Fintech
+2
Apr 15, 2026
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Accommodation providers look for cheaper pay options in wake of surcharge ban
With Australia's planned ban on card surcharges set to take effect on 1 October, GoCardless said accommodation providers are seeking lower-cost payment alternatives to protect margins.
Fintech
+2
Apr 15, 2026
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Bolt repurposes AP+ white elephant Beem after Binance setback
As it looks to recover from an embarrassing short-lived relationship with controversial crypto wallet Binance, Bolt Group's latest move is to give Beem a facelift and turn it into a “true everyday money app”.
Fintech
+1
Apr 15, 2026
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Coinbase’s green light with AFSL
In an Aussie first, Coinbase will bring perpetuals, futures, options, and a full suite of financial products to one of the world's most engaged crypto markets thanks to a retail derivatives authorisation.
Fintech
+1
Apr 15, 2026
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Delays and outlook see EML shares dive
ASX listed EML’s new CEO Adam Olding faces a serious challenge after the company’s revised outlook saw shares take a big dive on Monday.
Fintech
+2
Apr 15, 2026
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Shift4 in the frame as Cuscal moves on NZ Paymark
Cuscal is buying New Zealand’s answer to eftpos - Paymark – in a deal that may secure a brighter future for one of its biggest customers, Shift4, in the land of the long white cloud.
Fintech
+3
Apr 8, 2026
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Game on. PSPs and acquirers fight to survive in a post-surcharge world
Ahead of what is likely to be the biggest Payment Service Provider (PSP) and acquiring market shakeup in decades, Tyro, Zeller, Westpac and CBA are already wooing customers for the post-surcharging world, while ANZ remains mum on its plans for ANZ Worldline.
Fintech
+1
Apr 8, 2026
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Platform trap: Captured SMEs exposed to card fee shock
After announcing a surcharge ban on both credit and debit, the RBA’s remedy for small businesses to avoid card fee shock was to shop around for cheaper payments options. With just 176 days to run until the 1 October deadline, this simplistic economist view ignores just how deeply platform players like Xero, MYOB, Stripe, Square and Shopify have embedded themselves into Aussie businesses.
Fintech
+3
Apr 1, 2026
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Fintechs grapple with stark no-surcharge future
Following the Reserve Bank’s no surcharge decision, a gaggle of well-known fintechs including Zeller, Shift4, Zero, PayNuts, Square and Tyro may need to rebuild their business models and, in some cases, technology stacks, or risk losing massive market share back to the big banks.