06 November 2015
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
F&P Finance bought by Aussie’s FlexiGroup
Australian owned FlexiGroup has struck a deal to buy Fisher & Paykel Finance from Haier – F&P currently operates the Q Card and Farmers Finance Card and has about 430,000 active cardholders. The deal has created the opportunity for a trans-Tasman interest free credit card offering. FlexiGroup plans to move the cards from their existing closed loop structure to MasterCard.
Instant payments with BPay
Receiving instant payments by quoting a mobile number or email address will soon be possible across the Tasman with BPay - the first payment service to be offered on the $1 billion Australian New Payment Platform (NPP). Up to 280 characters of text will also be sent with the payment compared to just 18 now.
Pay your bond online
Kiwi renters can now pay bonds for rental properties online, reducing the reliance on cheques and forms being sent by post. The new system also speeds up the return of money after the end of a contract which helps reduce financial pressure on tenants. Over 400,000 bond transactions are processed every year, amounting to more than $400 million.
Bitcoin on the rise
The digital currency is in the middle of a mighty surge, where its price reached a new annual high on Wednesday when it climbed above US$500 before settling back to US$456, showing a 14 percent increase in a day. Check out five factors likely to be contributing to bitcoin’s recent surge here.
Payments NZ 2016 Conference
The countdown is on with just over 365 days to go until our next biennial conference, The Point. So block out the 8th and 9th of November 2016 in your calendars now and watch this space for more information about this premier industry event in the New Year.
Visa to buy Visa
In what would be a $23 billion deal, Visa is looking to buy its sister company Visa Europe giving Visa meaningful exposure to Europe. The two companies have more than 2.9 billion cards issued on a combined network, processing roughly 88 billion individual transactions a year.
Apple Pay to launch over the ditch
To date, Apple Pay has struggled to get agreement from banks to launch via Visa and MasterCard in Australia, as well as a host of other countries, but they are now launching with American Express.
Everyone who is anyone is using mobile payments...or are they?
You will have seen a lot of hype about the rise of mobile payments. The recent release of the Starbucks mobile app and the ever-increasing conversation about Apple Pay has led to a perception that mobile payments are now the norm. But in reality, Apple Pay today represents barely 0.05% of all in-store retail transactions in the USA. But as ComputerWorld points out, the mobile payments industry is a fledgling so, keep an eye out.
*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.