InPayTech Limited announces Initial Public Offer to raise up to $5 Million
Integrated Payment Technologies Limited (InPayTech) has today announced the launch of its Initial Public Offer (IPO) to raise up to $5 Million including oversubscriptions, and apply to list on the Australian Securities Exchange (ASX). The IPO opens on October 17, 2016 through a prospectus issued by InPayTech and lodged with the Australian Securities and Investments Commission (ASIC) on September 23, 2016. InPayTech is an Australian financial technology company that has created a unique payments process (the Process) in support of Australia’s banking, wealth management and superannuation sectors. InPayTech will capitalise on Government regulation to enhance its business in: Superannuation, via the Single Touch Payroll (STP) initiative of the Australian Taxation […]
UBS invests big in blockchain future
Global investment bank UBS is throwing its resources behind the blockchain’s transformative potential, investigating a range of applications such as smart bonds, cross border payment transactions on the distributed ledger and a digital representation of physical currency. In 2015 the bank opened an innovation lab designed to explore how the blockchain could be used by the financial services sector and how it would disrupt traditional banking models. Now its research will turn into reality. UBS group chief operating officer Axel Lehmann told The Australian Financial Review the blockchain could be “the next internet” in terms of its potential, but there were still questions to be answered. “We don’t want to […]
Worldpay heads down under with Australia licence
Worldpay, the global leader in payments, is expanding in Australia after winning its licence to process payments in what is one of Asia Pacific’s largest eCommerce markets. The company’s expansion in Australia comes at a time of sustained growth for Worldpay, which processed 13.1bn transactions in 2015 with transaction value of £401.9bn. A number of global companies, including ASOS, Expedia, Cathay Pacific Airlines, Digital World International and Freelancer have already turned to Worldpay for payment processing in Australia. They have been attracted to Worldpay both by the company’s extensive international reach, as well as its ability to process a wide range of alternative payment methods such as eWallets and bank […]
zipMoney has grabbed fintech Pocketbook in a $7.5 million deal
Digital retail finance and payment industry player zipMoney has bought personal finance management app maker Pocketbook. The deal includes $6 million upfront and another $1.5 million, depending on a set of milestones. The acquisition strengthens zipMoney’s position in Australia’s fintech sector. A short time ago, zipMoney shares were up 5.7% to $0.74. All Pocketbook staff will be retained including the founders, Alvin Singh and Bosco Tan. zipMoney will gain valuable data analytics on consumer behavior from Pocketbook’s large and growing user base, further enhancing its proprietary credit and fraud decision technology. Click link below to read more Source: zipMoney has grabbed fintech Pocketbook in a $7.5 million deal | […]
ASX-Listed Australian FinTech company zipMoney – Full Year Results
zipMoney are pleased to announce today their FY16 Annual Results, the first set of accounts as an ASX-listed Company. Some of the key highlights: Transaction volume of $51.5 million, up 962% Loan book (receivables) of $40.7 million, up 1,296% Company revenues of $4.3 million, up 976% More than 50,000 customers and 2,000 merchants Omni-channel strategy delivering volume growth Bad debts of 1.1%, below industry standards FY16 saw a number of very pleasing achievements for the Company. This included strong growth in transaction volume, with more than $50 million processed on the zipMoney payments platform. This was supported by close to 2,000 merchants across their target sectors and a number of […]
ANZ Apple Pay users hit 250,000
Around a quarter of a million ANZ Banking Group customers are understood to be using Apple Pay, a number that exceeds the bank’s expectations four months after the service was launched. It’s also a number that’s set to rise, with ANZ to announce on Tuesday that its Mastercard customers are also able to load their credit cards into Apple’s digital wallet. Apple has restricted ANZ’s reporting of the number of cards that have been loaded onto Apple Pay since it jumped ahead of its rivals at the end of April and struck a deal with the tech giant to allow ANZ Visa and American Express cards to be loaded onto […]
Just don’t call us payday lenders
More than 20,000 Australian small business owners have trouble accessing finance (Deloitte Access Economics). Are they denied access because they aren’t good candidates for loans? Yes, in some cases. However, a significant number (37%) of these businesses are denied finance because they don’t have collateral (be it a home or considerable assets) to secure a loan against. Interestingly more than 40 per cent of rejected applications examined by the NSW Business Chamber were for amounts less than $100,000 – it seems traditional providers aren’t interested in small loans, or small business. Archaic systems and processes which serve the interests of incumbent big business are being dismantled in the current global […]
Banks to develop new digital cash unit for settlement
Four of the world’s biggest banks have teamed up to develop a new form of digital cash they believe will become an industry standard to clear and settle financial trades using blockchain, the technology underpinning bitcoin. UBS, the Swiss bank, pioneered the “utility settlement coin” and has now joined forces with Deutsche Bank, Santander and BNY Mellon – as well as the broker ICAP – to pitch the idea to central banks, aiming for its commercial launch by early 2018. The move is the first example of a group of leading banks coming together to co-operate on a specific blockchain technology to harness the power of decentralised computer networks and […]
