02 September 2016
Below are our top reads from the last seven days of industry news*. Every Friday we'll publish our picks from industry developments, stories and announcements right here so you can keep you up to date with what's happening in payments here and overseas.
If you'd like to have our top reads emailed to you every Friday, let us know by emailing firstname.lastname@example.org
Kiwi fintech company wins Trans-Tasman award
Kiwi online payments provider Latipay won the Tech Startup Award at the 2016 Australia New Zealand Internet Awards this week. Latipay is unique in allowing payments for Kiwi products in Chinese yuan, while also enabling local business to receive payments in Kiwi dollars. Leigh Flounders, chief executive of Latipay, says the firm is helping Kiwi businesses make the most of the opportunities China offers them. We’re looking forward to hearing more about Latipay and its one of a kind proposition at our industry conference The Point 2016 in November, where Leigh is a speaker.
Saving the pennies? Kiwi firm thinks you may soon be saving the bitcoins
Kiwi company Little Crypto is looking to expand its MyBitcoinSaver product. Clients can invest between $10 and $200 into Bitcoin and convert back into dollars whenever they need to. Little Crypto plans to launch in Australia, the UK and the United States in the near future and Director Katie Graham says the concept could especially appeal to millennials because of its simplicity.
Fast lane is the new normal when it comes to payments
Stephen Karpin, with a cameo from local lad Marty Kerr, both from Visa, talk about co-creation open innovation, the internet of things and the fast lane being the new normal in this interview with CIO. They reckon sending money needs to be as easy as texting to meet modern day customer expectations. Joe Cunningham from Visa’s Asia Pacific office will be with us at our industry conference The Point 2016 in November where we will carry on this very topical conversation.
British rail users may soon replace tickets with smartphones
Chiltern Railways are testing a new ticketing system that charges passengers as they travel with an Uber-style app. Each journey’s fare will be calculated with the use of a smartphone. Bluetooth sensors at the gates that will detect when passengers enter and leave stations should provide lots of useful data to help improve rail network performance and customer experience.
Apple Pay growth continues online and through ANZ collaboration
Apple Pay will make its web debut later this year, with Stripe issuing guidance to businesses on how to prepare for this latest payment method. Meanwhile, customers of ANZ in Australia are now able to use their MasterCard credit card to pay for purchases through Apple Pay or Android Pay.
The cost of fraud is rising
The Association of Certified Fraud Examiners has found that globally businesses lose over $3.5 trillion to fraudsters each year. According to the Global Fraud Attack Index™ this problem is getting worse, a message echoed by our Payments NZ colleagues in Australia in their latest APCA report for payment fraud.
Online payment platform Circle is making moves in China
Circle’s CEO Jeremy Allaire talks about how a large middle class and lack of legacy systems means China is a brilliant opportunity for Circle. He says that the West could learn a lot from the behaviour of Chinese consumers, who are embracing P2P and social payments instead of traditional retail banks.
New Australian bank notes give blind people a feel for money
Blind Australians will soon be able to tell the difference between bank notes using small bumps. The new $5 banknote was issued on 1 September and the remaining denominations will be issued in subsequent years. NZ’s new banknotes have also been developed to assist those with a vision impairment – see how here.
*These articles cover a range of topics from broad payments industry news here and overseas. They do not represent the views of Payments NZ and are not endorsements.