Many commentators would argue the humble credit card is one of the most important financial innovations of the past 60 years. The reason behind its yet-unrivaled success has much to do with an economic theory known as the two-sided market, whereby a powerful network effect attracts both buyers andRead More
Post Tagged with: "Australia"
Historically — and by “historically” I mean since the early 2000s — aggregators have largely fueled online lending. But something seems to be happening in the online lending aggregation space, or at least aggregation of small business lending. Yesterday, OnDeck Capital reported its third quarter earnings (+67% YOY originations growth), andRead More
Commonwealth Bank of Australia (CBA), one of Australia’s “Big Four” banks, has launched a number of innovation initiatives in the last several years, from the small — a smartwatch app — to the massive — modernizing its core software. The company also built a 7,500-square foot innovation lab beneath its SydneyRead More
IP Payments, a payments company in Australia and New Zealand, recently was tasked with setting up the payments system for Quickflix, which is the local version of Netflix. IP had specific challenges adapting its payments solution to PlayStation’s diverse channels. This month, the final effort won the company an iAward,Read More
Sending money across international borders can be subject to huge fees and delays. A new company called Passport hopes to ease that pain by eliminating the fees and completing the transactions in real time. It expects to be up and running in the US within the next few weeks. Passport isRead More
The implementation of Australian real-time payments is both inevitable and imminent.