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“Square Peg Capital Welcomes First Female Investing Partner”
Australia-based venture capitalist Square Peg Capital hires its first female investing partner, Piruze Sabuncu. The VC firm has recruited Sabuncu along with other hires to push further into Southeast Asia. She will be based in Singapore along with Tushar Roy who relocated to Singapore earlier...
Digital payments & international money transfer fintech Azimo enters Australia
Headquartered in Amsterdam, digital payments platform Azimo has set up its operations in Australia and joined the international money transfer (IMT) landscape to offer its customers competitive exchange rates as well as fast service. The Netherlands-based company has been operating in Europe for the past...
Fintech Finspo launches mortgage broking arm
Introduction Australian fintech Finspo, a mortgage broking firm, has branched out into mortgage broking. The company aims to provide its customers with an aggregated view of their banking costs. Finspo announced the launch ofĀ its mortgage broking capability within its fintech start-up. The company also...
RBA’s Aussie Blockchain Initiative: Transforming Digital Currency
The National Australia Bank and the Commonwealth Bank of Australia will join forces to work with the Reserve Bank to develop a proof-of-concept. This will be used to issue central bank digital currency in the form of tokens. Reserve Bank of Australia calls in big...
Eftpos signs deal to purchase digital payments app Beem It
E-payment device maker Eftpos has announced that it has purchased Aussie payments company Beem It from the Commonwealth Bank of Australia, WestPac and the National Australia Bank (NAB). The purchase of the payments app has been executed at an undisclosed amount. The decision to buy...
Questā€™s payments solution to launch Airpay TAP
Quest Payment Systems (Quest) a technology provider based in Melbourne, recently launched a software-only tap-on-phone payments solution. The solution called Airpay TAP allows merchants to accept contactless card payments. The payment solution allows for transactions to be executed on nearly any modern Android smartphone simply...
Westpac ditches 10% stake in Zip post signing deal with rival Afterpay
Aussie financial services company Westpac Banking Corporation sold its 10.7% stake in buy now, pay later fintech Zip Co Limited. The bank will be dumping 55.2 million shares, according to its statement to the Australian Securities Exchange (ASX). The offloaded 10.7% will net Westpac profit...
Afterpay becomes Westpacā€™s first digital bank-as-a-service customer
Westpac has signed on Afterpay as the debut user of its new bank-as-a-service platform which is cloud-based. Afterpay will use this platform to provide its Australian customers with savings accounts and cash flow tools. This will allow the company to understand its customersā€™ savings and...
Austrac gives clean chit to Afterpay following anti-money laundering inquiry
After concluding its investigation into the Australian BNPL service Afterpay, The Australian Transaction Reports and Analysis Centre (Austrac) has decided to not pursue any further regulatory action against it. In June 2019, the Austrac had requested the appointment of an external auditor into Australian operations...
Buy Now Pay Later Services: Everything You Need to Know
Undoubtedly, Buy Now Pay Later Services have changed the fintech and payments environment in Australia. A recent study by Roy Morgan found that till September 2019, over 1.95 million Australians have used at least 1 shop now pay later service, online or at stores, available...
