Samsung Pay takes on Apple over tap and go
In an approach that distinguishes it from Apple in the contactless payment market, Samsung says banks are welcome to join its digital wallet and it doesn’t want any of their interchange fees or data. Samsung launched Samsung Pay in Australia on Wednesday. The service is live in South Korea, the United States, China and Spain. In Australia, it is available only for holders of Citi and American Express-issued cards. But Prasad Gokhale, vice-president of the mobile division for Samsung in Australia, is confident that each of the big four banks will embrace the platform in the coming months. He said the world’s largest consumer electronics company did “not want to […]
Turn debts into income
PROFITING from other people’s debts has always been popular way to make money, and investors seeking income are being given more choice than ever before. While interest rates wallow at record lows and are tipped to fall further, a new breed of peer-to-peer — or marketplace — lenders is gaining ground and other income funds are multiplying. Peer-to-peer lending — which removes middlemen such as banks and allows people to lend directly to borrowers via online platforms — is forecast to at least double in size every year for several years to come. RateSetter CEO Daniel Foggo says Australian peer-to-peer platforms funded $50 million of loans last year and that […]
Craig Steven Wright is not Satoshi Nakamoto – Maybe, the Leader of the Team
Have you already bought into the idea of Craig Steven Wright being Satoshi Nakamoto? There is a growing voice saying not so fast! Indeed, the shadow of doubt is growing every passing moment as members of the Bitcoin community pour over the evidence that he has put on the table. This can be witnessed on various Bitcoin forums, such as the Bitcoin subReddit, where some enthusiasts are expressing their disbelief. They could be wrong. They could right. Who knows at this point? Andreas M. Antonopoulos is one of those who have come out to question the validity of Craig Steven Wright’s claims. The author of Mastering Bitcoin, a Bitcoin security […]
Xero Passes Quarter Billion Annualised Revenue
Managing to cash flow break-even with cash on hand Trillion dollars of transactions recorded on Xero platform in last 12 months Performance highlights (All figures in NZ$) Strong global revenue and subscriber growth Paid subscribers hit 717,000 globally, with 242,000 subscribers added in the 12 months to 31 March 2016 Annualised committed monthly revenue of $257.9 million, a year-on-year increase of 62% Operating revenues of $207.1 million, an increase of 67% on FY15 Global year-on-year revenue growth of 95% in international markets, and 57% in Australia and New Zealand Improvement in operating metrics Gross margin increased by 6 points year-on-year to 76% Net loss of $82.5 million for the year, […]
Globalisation of FinTech: Are we learning from our neighbours?
Most areas in the fintech space are hotly contested. Anyone watching the fintech space can feel overwhelmed by the sheer volume of perspectives that emerge when a new product is launched, an article is written or a tweet is sent. And that is largely because fintech is global. Fintech companies may operate in their own local markets and compete with, or “disrupt”, local banks, but financial technology as a whole is a global dealing. Any discussion of fintech needs to have this perspective. This is not just a matter of having the correct frame of reference for discussion and debate, it ensures we find the right way to […]
DirectMoney Releases Updated Personal Loan Fund
DirectMoney Limited (ACN 004 661 205 ASX: DM1) (DirectMoney) and One Managed Investment Funds Limited (ACN 117 400 987, AFSL 297042) (One Investment Group or OMIFL) are pleased to announce the release of an updated Product Disclosure Statement (PDS) for the DirectMoney Personal Loan Fund (ARSN 602 325 608) (Fund) as at 29 April 2016. Key features of the Fund now include: Lowering the minimum investment amount to $10,000 Weekly acceptance of investor applications Allowing re-investment of monthly distributions Expanded reporting Since the initial launch in May 2015 until mid-April 2016 the Fund has achieved a return of 7.18% after fees and provisions. The Fund aims to deliver a consistent […]
Ignition Wealth Teams’ integration as easy as 123
Following the April 14 launch of Ignition Wealth Teams the effortless integration process has ensured an enthusiastic response from professional financial businesses including advice practices and accountancy firms. “We are committed to building real partnerships with businesses in the professional financial industry. For clients adopting the off the shelf version of Ignition Wealth Teams we have made the integration process absolutely effortless. There is no upfront cost to the business and integration can be completed in as little as 24 hours. For businesses daunted by trialling automated advice this is the solution simple, fast and costfree.” Mark Fordree, CEO, Ignition Wealth. With three simple steps the Ignition Wealth […]
Trov announces $25.5 million funding, launches world’s first on-demand insurance for single items
With $39M total funding to date, Trov will help people around the world insure just what they want – exactly when they want – entirely from their phone MEDIA RELEASE – APRIL 27, 2016 – Trov, a technology company reinventing insurance for the mobile generation, today announced that it has closed $25.5 million in Series C funding led by Oak HC/FT, bringing its total funding to $39M. Other prominent investors in the round include leading Australian insurer, Suncorp Group (ASX:SUN), insurance technology provider, Guidewire (NYSE:GWRE), and fintech venture capital firm, Anthemis Group. In addition to the funding, Trov is announcing its upcoming launch of the world’s first on-demand insurance platform, […]
