Fintech

Why Mastercard’s new ‘smile to pay’ face recognition payment system could cause some big problems

- May 27, 2022 4 MIN READ

Mastercard’s “smile to pay” system, announced last week, is supposed to save time for customers at checkouts. It is being trialled in Brazil, with future pilots planned for the Middle East and Asia. The company argues touch-less technology will help speed up transaction times, shorten lines in shops, heighten security and improve hygiene in businesses.… Read more »

Fintech

NAB is getting into BNPL

- May 26, 2022 2 MIN READ

In another blow for the already crowded buy-now-pay-later (BNPL) sector, another major bank is getting into the space, with NAB announcing its own pay-in-four instalments offering. The bank’s opened pre-registration for customers today for the NAB Now Pay Later product They will be able to access up to $1,000, split purchases into four payments, use… Read more »

Andrew Porter
Fintech

FinTech Australia reveals 2022 Finnies finalists

- May 6, 2022 3 MIN READ

The finalists for FinTech Australia’s sixth annual business awards, known as The Finnies, have been announced. More than 290 entries were received for this year’s awards, across 20 categories, with the judges selecting a shortlist of 125 finalists. FinTech Australia CEO Andrew Porter said the calibre of entries continues to rise each year for the… Read more »

Airwallex
Fintech

2E or not 2E: Airwallex is reportedly hunting for another $200 million top up for its Series E

- April 27, 2022 2 MIN READ

Melbourne unicorn Airwallex is reportedly looking to extend its Series E round for a second time, seeking another US$150 million (A$209m) as it contemplates a public listing. Bloomberg reports the seven-year-old cross-border payments fintech is talking with several investors to close the round within months, citing unnamed insider sources. It’s just seven months since Airwallex… Read more »

Fintech

Fintech Bloom launches Australia’s first climate impact investing app

- April 1, 2022 2 MIN READ

Fintech startup Bloom is launching the country’s first climate impact investing app. Co-f0under Camille Socquet-Clerc said the Bloom fund will feature a mix of green bonds, publicly-listed stocks and privately-held projects previously available to wholesale and sophisticated investors, such as solar farms. Bloom’s fund includes 75 investments, including big players like Tesla and BluGlass. Socquet-Clerc… Read more »

Fintech

Fintech Reach Alternative Investments is opening exclusive private equity funds to sophisticated investors

- March 29, 2022 3 MIN READ

Until now, access to exclusive institutional-grade private equity funds, run by the world’s leading asset managers, has typically been restricted to large institutions and the ultra-wealthy.  It is telling that many of the largest and most successful fund managers in the world do not have brands that are familiar to even the most active individual… Read more »

Fintech

ANZ’s crypto stablecoin, minted for a billionaire and rich investors, is a reminder that de-banking remains a threat to smaller fintechs

- March 29, 2022 3 MIN READ

ANZ bank has minted its own stablecoin, A$DC, becoming the first Australian bank to create its own cryptocurrency with a value pegged to the Australian dollar. The ANZ stablecoin was created for the billionaire Smorgon family’s investment firm Victor Smorgon Group, which was issued with the 30 million A$DC in February. Unlike other popular stablecoins, A$DC… Read more »

piggy bank
Fintech

The Australian government wants feedback on the next steps in open finance from the Consumer Data Right

- March 15, 2022 2 MIN READ

Consultation on expansion of the Consumer Data Right (CDR) to open finance has been kicked off by the Australian government.  A consultation paper released today calls for public input on datasets to be considered from non-bank lending providers, offering fintechs the chance to develop innovative consumer use cases.  Earlier this year, the federal government announced… Read more »

Fintech

The small detail in Zip’s results that spell out the longer term challenge for BNPLs

- March 1, 2022 3 MIN READ

Zip shares fell 7.7% following resumption of trade on Tuesday after the company announced a $491 million all-scrip takeover of US BNPL Sezzle. The merger, offering a 31.7% premium on Sezzle shares based on the 30-day volume weighted average price, is another sign of an expected consolidation of the crowded BNPL market following Square’s takeover… Read more »

small business, payment
Fintech

A BNPL just released one of fintech’s greatest innovations – it lets people pay for something when they buy it

- February 23, 2022 < 1 MIN READ

Buy-now-pay-later (BNPL) fintechs have built their brands over the last several years selling the convenience of “budgeting” your expenses. You can have your cake now, eat it too, then pay it off over 4 interest-free payments. But there’s been growing concerns about the sector, with nearly two-thirds of Australian financial counsellors supporting clients struggling with… Read more »