UK fintech startup truRating knew Australia would be a prime market
“Australia was in our sights early on as a prime market for truRating to launch in following our early success in the UK. Our local market research demonstrated that consumers want a simple and anonymous way to provide feedback about their experiences to businesses and truRating is committed to delivering that capability via our world-first technology. The rapidly growing fintech scene and market potential we identified here cemented Australia as the natural next step. Australia has a flourishing startup ecosystem which is producing world-class technologies and truRating is proud to join the mix.” – Georgina Nelson – CEO & Founder truRating
Square arrives, but without tap and go
Australia finally gets to use big-name US payments company Square’s mobile payment device on Tuesday, but it is missing the key contactless payments function. Square country manager Ben Pfisterer said tap-and-go would have made the device too expensive and too big – a drawback competitors have struggled with – to fit Square’s signature shape, but pointed out a PIN won’t be needed for purchases below $35. Australians are the biggest users of contactless, with 60 to 70 per cent of Visa and MasterCard transactions now done this way. “A lot of hard work has gone into it to create an alternative solution for small business; we think there is a […]
MEDIA RELEASE: ASX-listed zipMoney (ZML) first-half results for 2016
MEDIA RELEASE: ASX-listed zipMoney (ZML) are delighted to announce their first-half results for 2016. A brief summary of the key highlights and initiatives: – zipMoney have now hit $20m in total transaction volume on the platform triggering milestone 2 – Results for the half saw $10m in transaction volume with December are highest month ever at $2m; January was up over 30% mom – Revenue for the period was ~$750k and in January alone we achieved $237k up 40% over December – Cash at bank in Dec was $4.2m, or $3.5m after excluding $693k in restricted cash (from the securitisation trust) – Active customers were over 10,000 and merchant partners […]
PromisePay’s a disruptive influence that has learned well
As some of the heat recedes from the bubbly global fintech sector, Melbourne-based payments disrupter PromisePay is among a select group of local start-ups with a rapidly deepening revenue stream, serious global prospects and an embarrassment of funding options. Sometime this year, PromisePay will start taking bids for a second round of funding. One of founder chief executive Simon Lee’s problems is that he can’t accommodate everyone who wants to clamber aboard the PromisePay bandwagon, which is why a $10 million cash-grab is likely to be upgraded to $30m-$40m. That way, PromisePay can flaunt its balance sheet to customers generally concerned about trust and stability, and lock in adequate funding […]
Australian Startup Rewards Customers Paying Bills with Bitcoin
An Australian startup that acts as an intermediary to enable Australians to pay their bills with Bitcoin is now rewarding customers with a first-of-its-kind loyalty program. Living Room of Satoshi, aptly named after Bitcoin’s pseudonymous creator Satoshi Nakamoto is an Australian blockchain-based payments company that enables its users to settle their bills with bitcoin. Customers can use bitcoin to pay for utilities, home and property rent, school fees, credit card payments and insurance premiums. Now, the payments company has announced a loyalty program which will reap rewards for Australians who choose to make their payments in bitcoin. The rewards include the likes of Apple TVs, PlayStation 4 consoles, Fitbit wristbands […]
Samsung Pay goes with Amex first
The race for digital wallets is heating up in Australia and it’s great to have giants like Apple and Samsung battling it out. This can only mean one thing – great results and products for consumers! Samsung has confirmed it will join the re-boot of the digital wallet race in Australia in 2016, becoming the fourth country to get Samsung Pay after South Korea, the US and China.Like Apple Pay, Samsung will be going with American Express first and add other cards later. American Express payments have been available on Apple Pay since November. Bank issued Visa and MasterCard will initially only work on Android Pay, which is understood to […]
MINT PAYMENTS PRESS RELEASE
MINT PAYMENTS SIGNS AGREEMENT WITH AWARD WINNING TRAVEL AGENCY SOFTWARE SOLUTION PROVIDER PROCESSING $4 BILLION IN TRAVEL SPEND Sydney, 1 February 2016: Payments processing technology provider, Mint Payments (ASX: MNW) (Mint or the Company) has partnered with multi award winning travel agency software solution provider Tramada Systems (Tramada), signing a three year licence and distribution agreement to deliver its fully integrated online payments processing service “Minternet”. Through the use of Minternet’s Application Programming Interface (API) software, Tramada has developed an integrated credit card module (tramada® Payment Gateway) that will be offered to all of its customers as a core product offering within Tramada’s suite of travel agency software solutions. Mint […]
How an Aussie fintech startup is connecting major brands to Chinese customers
Its always great to see Australian FinTech companies leading the way in international markets. Its hard to believe that such a market leader could remain under the radar for so many years. SmartTrans, a payments startup whose board is chaired by Australia’s former ambassador to Beijing has just posted its fourth consecutive $1m-plus month of revenue from its Chinese customer base. The fintech company’s share price has rallied this week after it posted a record revenue of $3.69 million in China during Q2. That’s an increase of 59% on the previous quarter’s revenue of $2.27 million and an increase of 620% on revenue for Q2 in FY2015. The company acts […]
