InPayTech Limited Initial Public Offer opens today
Integrated Payment Technologies Limited (InPayTech) has today formally opened its Initial Public Offer (IPO). InPayTech is an Australian financial technology company that has created a unique payments process in support of Australia’s banking, wealth management and superannuation sectors. The Prospectus offers a total of up to 25,000,000 Shares in the Company at a price of 20 cents per Share (the Offer). The Offer seeks to raise a minimum of $3,000,000 and a maximum of $5,000,000. The company would have cash of $2,300,000 under the minimum subscription and $4,173,000 under the maximum subscription, and be debt free. InPayTech’s offer period is expected to close on 18 November, 2016. Brokers to the […]
Blockchain report: Where are we now, and where are we going?
A report by international law firm Allens investigates the use cases for blockchain and where the technology is now. International law firm Allens, which has offices in Australia and Asia, has released a detailed report investigating the attributes, problems and possible use cases for blockchain. The report’s lead authors say blockchain first got on Allens’ radar in 2012 due to a junior lawyer’s penchant for blockchain, and the fascination stemmed from there. “We’ve seen distributed ledger technology move out of the lab and onto the C-suite agenda of our clients, from startups to multinational giants with centuries of transactions behind them,” they said. While perspectives are many and varied, the […]
ANZ, Wells Fargo test blockchain for cross-border payments
Blockchain technology promises to reduce the time and cost of transferring funds and increase access to liquidity, according to ANZ Banking Group and Wells Fargo. The companies made the comments following the completion of a six-month project that built and tested a distributed ledger for reconciling and settling payments between the two banks. In a recent report on their “proof on concept” the banks said blockchain could “add real value to both the customer experience and the efficiency” of correspondent banking relationships, which refers to deals between global banks over access to local payment systems. “Cross-border payments and correspondent banking are ripe for rejuvenation,” ANZ and Wells Fargo said, pointing […]
Pushpay ASX float is a leap of faith
It used to involve putting cash into the collection plate but now giving to a church can happen with a few taps on a mobile phone. The co-founder of Pushpay, which will list on the Australian Securities Exchange on Wednesday, says the fintech’s revenue will triple and its cash flow become positive by the end of 2017, driven by more members of religious congregations in the United States making donations through smartphones. Pushpay, which offers a payments application to individual churches throughout the US, completed a $54 million placement to local institutions through Ord Minnett last week in a bookbuild at $2.09 a share. The offer was revealed by Street […]
Gelato Messina launches world leading mobile payment app
Gelato Messina, pioneers of weird and wonderful gelato creations and one of Australia’s most popular brands, are ditching their cash-only policy and moving towards mobile payments to the joy of cashless customers nationwide. On 4th October 2016 Messina launched a mobile payment and loyalty app that allows customers to pay with their phone and be rewarded with points. Points are redeemable for gelato, merchandise and unique Messina experiences — including the chance for one loyal customer to take seven friends on a seven course gelato experience at the Messina Creative Department. Powered by LOKE, a Melbourne fintech startup, customers will be able to add their preferred payment type, including their Paypal account, […]
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 […]
