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Payments

Yesterday

Revolut has added a BNPL feature to its so-called ‘financial super app’.

Revolut’s ambition adds to major banks’ headache

“If we do a good job, we can attract more customers from traditional banks,” says the global CFO of Revolut, which has more than 600,000 users in Australia.

  • James Eyers

June

There are more varieties of digital coins than any investor could care to count.

CoinSpot’s billionaire owner grabs huge dividend payout

But the company, one of the country’s largest cryptocurrency exchanges, has reported a near 75 per cent slide in profit in the last financial year.

  • Primrose Riordan
Shaun Bonett is the Rich Lister who controls Prezzee, a gift card provider.

Rich Lister’s ‘billion dollar’ company faces $79m loss

Shaun Bonett bought into Prezzee in 2015 and has slowly increased his control over the business. New figures reveal it lost $79 million in the 18 months to December 31.

  • Primrose Riordan
Apple Pay will come under RBA regulation when the PSRA bill is passed.

RBA flags BNPL fee crackdown in broader probe into credit cards

The central bank’s head of payments says it will launch a review of regulations as soon as it is handed the power to do so under new legislation in parliament.

  • Updated
  • James Eyers
Robert Waugh and Drew Bradford left NAB to create Ubiquity, a new AUD stablecoin.

NAB kills its stablecoin, bankers decamp to form Ubiquity

The bank canned its digital Australian dollar, known as the AUDN, so Rob Waugh and Drew Bradford left to set up their own product, to be called Ubiquity.

  • James Eyers
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ANZ is deepening its partnership with Apple.

Apple to drive iPhone users towards buy now, pay later loans

The global technology giant will upgrade Apple Pay to bring buy now, pay later-style payment options to the point of sale. ANZ is the first major bank to join up.

  • James Eyers
BePay was first registered with the corporate regulator in 2021, and operates both a crypto-exchange and wallet primarily for its Barteos coin.

BPay wants ‘misleading’ crypto exchange to be taken down

The payments giant is pushing to take down a little-known cryptocurrency exchange that it says has infringed on its trademarks and misled consumers.

  • Lucas Baird
Afterpay co-founder Nick Molnar in Sydney on Tuesday.

Boost for Afterpay as Block drops plans for Cash App in Australia

Afterpay Plus will make buy now, pay later more ubiquitous, says Nick Molnar, in his first public comments on the growth strategy in Australia post-acquisition.

  • James Eyers

May

Lawyers are reporting a blowout in payment times.

Late-paying clients are causing headaches for law firms

Firms are turning to fee funders and alternative billing arrangements to solve their cash flow problems.

  • Maxim Shanahan
Cash App is growing, including by incorporating Afterpay. But regulators have been scrutinising its compliance controls.

Buy now, pay later surges as Dorsey realises Cash App vision

Block’s BNPL volumes are rising as Afterpay is rolled into Cash App, which has 24 million active users in the US. The stock jumped more than 10pc on Friday.

  • James Eyers
Jack Zhang

Airwallex’s local outpost reverses to loss

The local outpost of one of Australia’s largest technology start-ups tripped to a deep loss after a big increase in costs.

  • Updated
  • Lucas Baird

April

Narendra Modi on stage with Prime Minister Anthony Albanese in Sydney in May last year.

Macquarie, ANZ and Canva CEOs help power Australia’s India push

Governments hope to prevent another false dawn in bilateral trade and investment by getting business to work on policy.

  • James Eyers
India is still as cash intensive economy.

Payment provider Findi lands licence for branded ATMs in India

Findi is backed by Wilson Asset Management and the Flannery family. The company expects to rebrand about 4000 ATMs which it already operates for the State Bank of India.

  • Primrose Riordan
Negotiations are continuing between the federal government, major banks and retailers over the future of cash-carrying company Armaguard.

Chalmers reassures on cash supplies after Armaguard meeting

The government wants Armaguard, together with the banks and major retailers, to deal with the challenging economics of the cash distribution industry.

  • Tom McIlroy and James Eyers

Inside the battle for Armaguard and the future of cash

The high-stakes negotiations over the financial future for the cash transit monopoly reached a crescendo over Easter, and became clearer this week.

  • James Eyers
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March

Kym and Jenny Houden with their sons Dean and Dan.

How this Sydney family turned tech tinkering into a $100m fortune

Self-taught software engineer Dan Houden spent six years working on a product that would catapult Task Group to a $310 million sale.

  • Tess Bennett
Westpac’s Peter King has backed CBA’s Matt Comyn and his concerns about Apple’s growing dominance in payments.

Westpac and NAB back CBA, call for more scrutiny of Apple in payments

Authorities in the US allege the tech giant has locked the iPhone to build a monopoly. In Australia, banks say its digital wallet prevents competition.

  • Jonathan Shapiro and James Eyers

Last-minute lifeline to keep cash afloat

A short-term financial injection in the tens of millions of dollars has been offered to help Armaguard, the Lindsay Fox-owned cash transport firm, survive.

  • James Eyers
When customers send money overseas, CBA checks they are not on government ‘sanctions lists’, slowing down many legitimate payments.

CBA backs UK start-up improving screening for financial crime

Global Screening Services now counts CBA as a shareholder. It’s building standards for banks to check cross-border payments against sanctions lists.

  • James Eyers

Comyn lashes low scrutiny of tech giants’ ‘economic miracle’ returns

Commonwealth Bank boss Matt Comyn says local companies are being subjected to significantly more scrutiny than Apple, Meta and Google despite their big margins.

  • Updated
  • James Eyers

Original URL: https://www.afr.com/topic/payments-hpo