Digital Transformation / DX
Artificial Intelligence / AI
Internet of Things / IOT
Payment innovation stories
$118.5 billion lost in fees due to failed payments in 2020
Banks spent on average approximately $360,000 in 2020 on failed payments, whereas the average corporate firm spent just over $200,000.
WeChat Pay sizes up Oceania merchants to boost growth opportunities
The company says it will commit more resources to help business in Australia and New Zealand transform their businesses.
Australia Post expands payments partnership with Western Union
According to Australia Post, it is the fifth postal organisation worldwide to integrate Western Union’s digital money transfer services.
Financial services company completes funding round, launches to SMBs
Paytron, a financial services business, has raised $4.35 million in its latest seed funding round, with the money going towards helping SMBs better manage their finances.
Traditional banks under pressure to rise to fintech competition
"There is no one-size-fits-all approach, and banks cannot create all digital subsidiaries equally. Players capable of achieving long-term growth and profitability today will be tomorrow's fintech-era success stories."
Software-based facial recognition in payments industry to dominate by 2025
There will be more than 1.4 billion users of facial recognition software used for payments alone in 2025, up from 671 million in 2020.
How e-invoicing works and why it’s essential for business survival
The reasons for implementing e-invoicing centre on unlocking many benefits for all stakeholders by automating previously manual processes, writes MessageXchange managing director John Delaney.
Z Energy chooses TNS to upgrade retail customer experience
Z Energy has partnered with Transaction Network Services (TNS) to upgrade its customer experience with improved payments security and new digital offerings.
2021: the year of a boom in fintech payment innovations
As businesses across the globe assess how they will bounce back and upscale their capabilities, there will be opportunities for the acceleration and adoption of fintech innovation in the B2B space.
DataMesh tech cuts transaction costs with least cost routing
DataMesh sees $500 million per annum reduction in transaction fees for merchants when fully implemented.
Intuit QuickBooks' new ML-powered tool predicts SMB cashflows
Intuit QuickBooks has rolled out a machine learning-based cashflow prediction tool to assist thousands of small and medium businesses with getting back on the road to recovery.
Merchant choice routing: A process to significant savings for businesses
Merchant choice routing offers businesses the ability to override these defaults in the card and use the smarts in the terminal to process the transaction via the lowest cost network.
APAC's B2B payments market shows promise in turbulent times
The analysts find that B2B payments revenue is estimated to double, reaching $1,356.28 billion by 2025. This is up from $671.32 billion in 2018 and represents a compound annual growth rate (CAGR) of 10.5%.
COVID-19 highlights need for instant, real-time payments - GlobalData
“The ability to send money to a contact and have them be able to use it right away presents a powerful tool for families and communities to support each other through the present hardship.
Kiwis 'considerably' more likely to use biometric payments than Australians
The report finds 64% of New Zealanders are familiar with biometrics and 68% have used fingerprint recognition.
PPRO accelerates growth in APAC with new addition to leadership team
"Phua's appointment marks the strategic importance of the Asia Pacific region to the company."
Unisys integrates PayCargo payment processing into software
PayCargo payment processing services can be integrated into the Unisys operating modules of Digistics to offer clients real-time payment processing.
Preparing for e-invoicing requirements
The New Zealand and Australian governments are working on a joint approach to create trans-Tasman standards to e-invoicing that’ll make it easier for businesses in both countries work with each other and across the globe
Mastercard opens Global Tech Hub in Sydney
"Enterprises, SMEs or startups are now able to bypass legacy approaches and develop innovation at an accelerated pace."
New solution helps small businesses get paid anywhere, anytime
A common gripe among start-ups and small businesses is the issue of payment, and this new solution from Westpac hopes to resolve that.
Kiwis, it's time to ditch the loose change and go cashless, says MYOB
Ten years from now cash and ATMs as we know them could be extinct as the cashless economy becomes well entrenched in everyday life.
Why the shift to a digital economy is accelerating in Aus
“The continued shift to digital payments is not surprising given how connected and mobile our society is."
Payment Express and Oxipay join forces with a trans-Tasman partnership
The partnership will see Oxipay rolled out widely as a key digital wallet payment solution.
Visa carves out security roadmap for consumer payment technologies
The payments industry should now be almost ready to embrace the future of consumer technologies like biometrics, says Visa.