Tag: Payments

Treasurer Jim Chalmers is making moves to modernize Australia’s payment system.

The JobKeeper payment or wage is a subsidy program announced by federal government to help with upholding the Australian economy during the coronavirus outbreak.  It is designed to save six million jobs during the coronavirus pandemic, giving employees the chance to keep their jobs (hence the name) by handing out cash payments every fortnight in […]

Recently we covered the news that federal government departments will start paying e-invoices to businesses within five days. This applies only to contracts valued up to $1 million. If departments do not adhere to this new rule, they will face interest charges on any late payments – as long as both the supplier and agency use […]

A new report from Xero, the global small business platform, reveals for the first time the magnitude and impact of late payments to Australian small businesses, putting the value of outstanding, late payments at $115 billion a year. The research finds that half of all trade credit invoices are paid late and that solving the […]

ASX-listed fintech Novatti Group has launched a new bill payment solution for members of Australia’s growing community of Chinese residents, migrants, students and toursist, resulting in its shares surging more than 36% in a day. The chinapayments.com platform enables consumers to pay billers registered with the BPAY electronic bill payment system, using funds from their […]

Security Colony was one of six cybersecurity companies selected by Austrade & AustCyber to take part in the Federal Government’s Landing Pad program in San Francisco. In this exclusive series for Dynamic Business, Nick Ellsmore, co-founder of Security Colony shares his journey as he builds his second business (the first sold to BAE Systems) and introduces an Australian-built cybersecurity solution […]

Security Colony was one of six cybersecurity companies selected by Austrade & AustCyber to take part in the Federal Government’s Landing Pad program in San Francisco. In this exclusive series for Dynamic Business, Nick Ellsmore, co-founder of Security Colony shares his journey as he builds his second business (the first sold to BAE Systems) and introduces […]

To avoid being disrupted, financial institutions are not just having to be far more experimental, in some cases they are having to cede control of their customers to fintech companies, according to Ian Pollari, the global co-leader of KPMG’s Fintech practice.  Speaking at the Financial Services and Technology: Financial Inclusion and Stability conference, held at the University of NSW this […]

Cross-border payments startup Airwallex has received a US$6 million investment from VC firm Square Peg, bringing its total Series A capital raise to US$19 million The Melbourne-based fintech company previously closed its Series A funding round in May, having raised a combined US$13 million from Mastercard, Sequoia Capital China and the world’s fourth largest internet […]

Melbourne-based fintech startup Finch has closed an oversubscribed seed round, raising $2.25m in funding for its social payments app for millennials.    Launched in July, the Finch app allows users to pay and request money instantly (without a BSB), split bills, run tabs in groups to track shared expenses. According to Shahirah Gardner, who co-founded the […]