Category Archives: Feature

New fintech hits major milestone

Australian payment service provider PayDock will offer a range of new, secure, mobile-friendly payment options to its e-commerce merchants powered by Bluechain. The new Bluechain payment option simplifies the checkout process, allowing registered customers to quickly and safely pay on their mobile with a few taps. Conventional checkout processes for online shopping carts require the customer to type in their…

Open banking

Have they learned nothing from the banking royal commission?

As the Australian Government pushes towards a regulatory framework and operating model for open banking in Australia, based on the recommendations in the Farrell Review, the fintech industry watches on bemused by yet another wasted opportunity for real reform. By handing control of the design of Australia’s open banking initiative to the banks, the Australian government is dooming it to failure….

Merchant

Low-cost merchant acquisition is a prerequisite

The adoption of new digital payment channels depends on whether merchants can afford to acquire and use the latest technologies. If the merchant hardware is expensive, adoption rates are low. If merchant fee structures are opaque or excessively high, adoption rates are low. For example, e-wallets are only useful if the merchant supports contactless card payments. But contactless NFC terminals…

Garment worker

Digitizing payrolls positively impacts the lives of women in the garment industry

Women make up about 80 percent of the world’s garment industry workforce, but they are mostly paid their wages in cash and many lack access to traditional financial services. And when they are paid in cash, many women workers cite an inability to save because a family member controls their income. Geography and social conventions can have a major impact…

Digital financial inclusion is key driver for achieving UN’s agenda for SDGs

Latest progress report from Better Than Cash Alliance reinforces how digital financial inclusion, when provided responsibly and sustainably in a well- regulated environment, not only drives growth, but also enables faster progress toward many of the other sustainable development goals (SDGs). Since the UN adopted its 2030 Agenda for Sustainable Development Goals in 2015, the pace of digitization has grown…

Woman using her mobile phone

Domestic schemes offer better choices

Despite regulatory reforms and the introduction of real-time settlement systems, today’s payments industry still suffers from a litany of problems, many of which are related to the card-based technologies that still underpin in-store and online payments: Card-not-present (CNP) payments are the major cause of card fraud. Card-on-file (COF) exposes consumers to a high risk of data breach and identity theft….

Informal economy

Digital payments boost GDP

The global informal economy (that is, legal income out of sight of the government and tax authorities) is substantial and comprises close to a quarter of global economic activity. Capturing the informal economy could bring many benefits, including less poverty, more job security, greater access to social benefits, and additional tax revenue to fund the development of infrastructure, education, and…

Outdoor farmers market

Digitizing gaps in the supply chain

According to the World Bank, 230 million financially excluded people still receive their wages in cash, and 235 million unbanked adults in developing countries receive cash for their agricultural products. In total, 6.3 trillion dollars of global supply chain payments are still made in cash. For as long as a business purchases goods from unbanked suppliers or it needs to…

social good

Harnessing technology for social good

Around the globe, technology is being harnessed for social good in many different ways. From addressing complex social issues to fighting hunger, technology can make a positive and sustainable change in people’s lives. In particular, the rapid spread of mobile technologies in developing countries is creating new opportunities to assist the unbanked to enter the financial system. At Bluechain we…

Using mobile phone

It takes more than just a cute app

Innovations in mobile payment systems are rapidly changing consumer payment behaviours, creating opportunities for non-banking players to enter the digital payments industry. The global tech giants, Google, Amazon, Facebook and Apple, in particular, are utilizing their formidable market reach and consumer behaviour know-how to reshape consumer expectations and the digital payments landscape. Millennials and Gen-Z display far less brand loyal…

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