Commonwealth Bank, Westpac, and National Australia Bank are launching a payments app to enable instant payments for consumers and businesses.
Unlike Venmo in the US, no app has become the go-to in Australia for consumers splitting payments; DiviPay and Splitr each aim to become that app.
The banks wanted to bargain as a group with Apple for access to the NFC controller in iPhones in order to offer their own digital wallet services rather than use Apple Pay.
Rather than install EFTPOS terminals, the cash-only Gelato Messina has skipped that step altogether and worked with Melbourne startup LOKE to release its own digital wallet and loyalty app.
Today Australian fintech startup Invoice2go launches new mobile payments feature as it enters into a new growth phase. The new feature will help Australian business owners across all industries receive payments faster.
The death of the ATM has been widely predicted over the last few years as consumers grow increasingly accustomed to paying for products and services online, through apps, and paywave technology. Another payment system growing in popularity slowly but steadily is direct carrier billing (DCB).
Finding a way into the niche market of online financial services has high stakes, but the profit potentials make it well worth the risks. The big four banks of Australia is estimated to generate over $29 billion dollars annually. This is something that seems to have been very clearly understood by Brett Hales, the Co-Founder and CEO of Brisbane-based mCommerce and mPOS startup Tappr.
Today, Mint Wireless introduced Software Developer Kits (SDKs) and Application Programming Interfaces (APIs) for mobile payments integration. The Mintegrate platform allows developers to easily integrate mobile payments into applications on iOS and Android devices.