The honeymoon is about to end for the buy-now-pay-later (BNPL) sector when it comes to the fees they charge retailers. As the likes of Zip, Afterpay and Humm have stolen market share from the credit card sector, one competitive advantage they had over alternative payment methods was the support of the Reserve Bank of Australia… Read more »
Shoppers can help the Australian arts sector when they shop thanks to a new payments fintech, ArtsPay. Friends Marc Goldenfein, Lara Thoms and Alistair Webster were inspired by a desire to find a new way to support the arts, and created the payment processing startup. They partnered with global payments company Fiserv and local payment… Read more »
Australia could be a leader in digital assets and global hub for cryptocurrencies according to a landmark new report by a Senate committee investigating the sector’s potential. The Senate Select Committee on Australia as a Technology and Financial Centre, chaired by Senator Andrew Bragg, is bullish on the possibilites, having investigated issues such as regulation… Read more »
Australia’s fintech ecosystem saw record investor capital, strong job creation and a growing focus on international expansion during the pandemic, according to the 2021 EY FinTech Australia Census. The sixth annual Census, a collaboration between Ernst & Young and FinTech Australia, reveals a dramatic increase in the proportion of fintechs whose capital raising expectations were… Read more »
The female founders and executives from Brighte, Paypa Plane, Athena Home Loans and Adatree are among the biggest winners of the annual FinTech Australia Finnie awards. For the first time in the six-year history of the Finnies, women received all of the top awards. Katherine McConnell, CEO and co-founder of Brighte, and Simone Joyce, CEO… Read more »
It’s a case of fourth time lucky for Fintech Australia’s annual Finnies awards, which are being held tonight, October 13, after covid outbreaks and lockdowns in NSW and Victoria saw them postponed four times. From the original date in June, to July, and then moving it September in the hope that Sydneysiders could join the… Read more »
FinTech Australia has released a new tool for early-stage and global fintechs expanding into Australia that offers clear guidance on the country’s financial services licensing laws. Created in partnership with law firm K&L Gates and Austrade, the regulatory map is a global first and aims to greatly ease overseas companies’ expansions into Australia and assist… Read more »
The Australian arm of UK fintech Wise has been approved to join the NPP (New Payments Platform) as a participant and shareholder of NPP Australia – the first fintech to do so. The move will allow Wise Australia to connect directly to the NPP to clear and settle real-time payment and the regulator, APRA, granting… Read more »
Emerging Sydney fintech Avenue Bank has been granted a restricted banking licence by the financial regulator APRA. The digital bank has been gearing up for this moment after raising $37 million in a series B round back in February. Veteran CBA exec George Confos was appointed Avenue CEO last year. The fintech previously raised $11.4… Read more »
Public hearings for the Senate Select Committee looking into the potential of cryptocurrencies and digital assets continue this Wednesday, September 8. Fintech Australia, Judo Bank, Afterpay, the ASX, ACCC and ATO among those appearing before the committee, chaired by Senator Andrew Bragg. Ahead of the hearing, Senator Bragg joined Startup Daily show to outline his… Read more »
Australian payment fintech Azupay has taken on a $10 million equity investment from Ellerston Capital.
Project Dunbar will develop prototypes for shared platforms that will enable international settlements with digital currencies issued by multiple central banks. A blockchain-based system will hopefully cut transaction costs and times. The results will feed into plans for global and regional platforms and the G20 roadmap on better cross-border payments. The Reserve Bank of Australia… Read more »
Queensland fintech Paypa Plane has signed a deal to bring one of the key innovations of the New Payments Platform Australia (NPPA) – pre-authorised real-time payments – to banking next year Paypa Plane’s agreement is with payments platform Cuscal to launch PayTo in mid-2022. It’s one of the first examples of a bank and a… Read more »
The fintech ecosystem is booming and is showing no signs of slowing down. Research from KPMG showed that, despite being in the middle of a pandemic, there has been an increase in the number of fintechs active in Australia, with 733 FinTechs recorded. Investment in Australia’s FinTech sector has also soared, with US$1.4 billion invested… Read more »
The fintech sector has welcomed the findings of the federal government’s payments system review as giving local startups the chance to compete on a level playing field against tech giant such as Apple and Google. The Farrell review, commissioned by Treasurer Josh Frydenberg as part of 2020’s budget response to the pandemic, to investigate whether… Read more »
Daily startup news and insights, delivered to your inbox.
