This Month
Nick Molnar backs Block’s bid to reshape US banking
The billionaire Afterpay co-founder Nick Molnar tells AFR Weekend he’s been working with Jack Dorsey on Cash App, and they’re ready to tackle US banks.
- James Eyers
A bank in your pocket: Macquarie and CBA vie for app supremacy
Until now, the only reason to switch banks was to get a better deal. The rivals are changing that with digital investment on a scale the industry has never seen.
- James Eyers
How you could save up to 1pc off your mortgage rate
Three fintech start-ups – Craggle, Stay or Go and Elula – are challenging mortgage brokers and comparison sites by helping banks negotiate deals with customers.
- James Eyers
What this small fintech deal says about the big shifts in data sharing
Few have heard of Fat Zebra and Adatree. But the acquisition points to emerging data rights, as screen scraping teeters and Apple enters open banking in the UK.
- James Eyers
January
‘Pretty much donezo’: Afterpay’s global ambition feared in job cuts
The company’s US parent, Block, told staff on Wednesday it is beginning to enact plans to cut more than 1000 jobs globally.
- Nick Bonyhady
Apple concedes to European banks amid concern on new RBA payment power
Apple said it would allow European banks to let customers make tap and go payments from their iPhone apps outside Apple Pay, emboldening local lenders.
- James Eyers
Zip shares jump on path to profitability
Zip shares opened 15 per cent higher on Monday morning, in a sector still weighted down by negative sentiment.
- James Eyers
- Exclusive
- Payments
Airwallex prepares for IPO ‘in the next two years’
Its founder says start-ups have the right to push boundaries, as he responds to leaked documents that raise questions about the group’s compliance record.
- Lucas Baird and Jonathan Shapiro
Three Airwallex senior staff exit Tencent-backed payments group
The departures include the payment giant’s most senior Australian public relations officer, according to internal Slack messages sent to staff.
- Lucas Baird and Jonathan Shapiro
December 2023
This billionaire started his company to avoid paying bank fees
Kristo Käärmann found a cheap way to send British pounds to his native Estonia. His solution now has 16 million global users.
- James Eyers
Sargon’s Kingston bankrupted over $154m China financier debt
Phillip Kingston, founder of superannuation technology venture Sargon Capital, did not appear at a court hearing about money. He says he’s in Ukraine.
- Liam Walsh and Max Mason
Afterpay’s bad debts climb, just like its costs
Accounts filed by the Block-owned buy now, pay later company for the 18 months to December 2022 show scale eluded the Australian business.
- Nick Bonyhady
November 2023
VC firm Antler doubles down on insto money with new partner
Street Talk can reveal the early-stage VC has appointed investment and super industry exec Graeme Mather as a global partner.
- Sarah Thompson, Kanika Sood and Emma Rapaport
CBA’s Yello rewards program takes leaf out of Afterpay’s playbook
The bank’s new rewards program, being used by 8 million users of its banking app, is driving new sales to a host of large retailers.
- James Eyers
Finance upstarts step in where banks fear to tread
Making it easier to send money back to family overseas was the key driver for the founders of EzyRemit.
- Alexandra Cain
Plenti soars after striking deal with NAB for EV, solar loans
The bank will use Plenti’s technology to write co-branded, secured car loans, and send customers seeking renewable energy finance to the ASX-listed fintech.
- James Eyers
- Exclusive
- Mergers & acquisitions
Two Australian fintech deals close as acquisition season kicks off
A Brisbane digital lender has bought out one of its rivals, while TaxLeopard has acquired a firm that provides software to help Uber drivers do their accounting.
- Paul Smith
Cash register closed: Till Payments changes hands for meagre sum
Street Talk understands Canadian payments processor Nuvei is set to buy the struggling fintech.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Buy now, pay later companies will struggle to survive, Moody’s warns
The rating agency says that without stemming losses or raising more capital, most companies risk depleting their equity in the next two to three years.
- Jonathan Shapiro
Qld family office buys local fintech; ex Clearview boss named chair
The Tozer family office has completed a $30 million recapitalisation of Navigate Global in a transaction expected to complete on Monday.
- Sarah Thompson, Kanika Sood and Emma Rapaport
