Category Archives: Business

UK-Australia

UK-Australia fintech agreement welcomed

The UK-Australia FinTech Bridge agreement, signed yesterday by Australian Treasurer Scott Morrison and the UK Chancellor of the Exchequer Philip Hammond, is good news for Australian and UK fintechs. The agreement provides a framework for governments, regulators, trade promotion agencies and industry bodies from the two countries to work together and drive fintech growth. The UK is one of Bluechain’s…

e-commerce fraud

Fraud in mobile payments continues to rise despite increased fraud prevention efforts by merchants

The Mobile Payments & Fraud 2017 Report sheds light on the current status of payments in the mobile channel from the merchant perspective. With over 800 merchants participating in the 2017 Mobile Payments & Fraud Survey, spanning small and large merchants in every part of the globe, the survey provides a reliable and independent measure of trends in the mobile…

Latest funding round completed

Although securing private funding has proven a difficult path for many Australian tech companies, Bluechain has continued to fund its development from private and institutional sources. In doing so, Bluechain is following a path more commonly seen in Silicon Valley start-ups, in which IPO and trade sale options are pushed further down the timeline, allowing seed investors to maximize return…

Trust and technology: banks should heed the warning signs

According to a recent article in the Australian Financial Review “Bank dominance under threat from technology, trust”, banks need to start taking notice of how the world has changed around them. The days when the banks dictated how consumers paid for goods and services or borrowed money are gone. And if they don’t pay attention, they could find themselves being…

Financial inclusion: one of Africa’s greatest challenges

Financial inclusion has been a major challenge for developing economies for many years. The reason it is such a hot topic, especially in Africa, is that many governments have identified it as one of the key enablers for sustainable economic growth. When too much business activity is conducted informally, outside traditional financial systems, governments lack the controls they need to…

5 benefits of redefining domestic payment schemes

The global payments paradigm is changing. Worldwide, the dominant international card schemes battle against ever-increasing fraud, exposing their underwhelming response to the emergence of card-not present transactions. In the developing world, banks are looking to mobile technologies to capture payments by the unbanked and remove reliance on cash. And in the first world, disruptors are carving out pieces of the…

Bluechain will preview its next-gen domestic payment scheme at the Central Bank Payments Conference June 26-28

If you plan to attend the Central Bank Payments Conference in Amsterdam 26–28 June 2017,  be sure to connect with us for a preview of our new domestic payment platform and discover how it fosters cash-lite and inclusive economies, provides greater control over data sovereignty, reduces fraud, and lowers costs. Our Managing Director of Africa, Yoku Korsah will be coordinating…

New survey reveals mobile wallet adoption is stagnant

Mobile wallets or e-wallets first appeared on the digital payments scene more than two years ago from major players Apple Pay and Android Pay, with Samsung Pay entering the market soon after. On 15 March 2017, Karen Webster, CEO of PYMNTS.com presented statistics for mobile wallet adoption and usage, which can be found at http://www.pymnts.com/mobile-wallet-adoption-2017/. So, what does the data…

Credit card fees get crunched

I read an interesting article recently in The Age about credit card interchange fees and the government caps that come in from July 1: http://www.theage.com.au/small-business/finance/anz-dumps-amex-as-credit-card-fees-get-crunched-20170313-guxcxj.html#comments. Perhaps even more interesting is that the readers’ comments pick up on problems with the existing credit card schemes with greater clarity of purpose than the schemes themselves. The schemes might not get it, but Bluechain certainly knows…

Australian banks denied access to NFC on iPhone. Now what?

On Friday 30 March 2017, the Australian Competition and Consumer Commission (ACCC) announced that the country’s largest banks cannot collectively bargain with Apple over access to near field communication (NFC) technology on the iPhone, which would allow the banks to compete with Apple Pay. Rather than enhancing competition, this decision limits Australian consumers and impairs the banks’ profit margins as they…

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