This Month
Tokenisation of real-world assets is the killer app for crypto
What if crypto was not only a speculative asset class but a new technology stack for financial markets?
- James Eyers and Jessica Sier
Tyro to lean on banking arm in quest for growth
Chief executive Jon Davey says the payment provider’s new strategy will restore confidence in the business after a drawn-out takeover fight.
- Lucas Baird
Cuscal mandates Bell Potter and Ord Minnett for IPO bookbuild
Bells and Ords would be tasked with selling a slice of the IPO to their retail and high-net-worth networks, after Bank of America has mopped up bulk of the raise.
- Sarah Thompson, Kanika Sood and Emma Rapaport
BofA kicks off $531m Cuscal IPO bookbuild; pricing out
The end-to-end payments outfit is expected to list on the Australia Securities Exchange by late November.
- Sarah Thompson, Kanika Sood and Emma Rapaport
New RBA powers to regulate Apple, Google payments
The Albanese government will release draft legislation on Wednesday to allow the RBA to regulate Apple Pay and Google Pay like other payment services.
- James Eyers
ASX-aspirant Cuscal valued at as much as $736m: BofA
Cuscal is owned by MasterCard, Bendigo and Adelaide Bank and most of the big credit unions and is targeting an initial public offering before Christmas.
- Sarah Thompson, Kanika Sood and Emma Rapaport
The Glassdoor post that spelt out Airwallex grief
Former staff say they felt partly motivated to write more negative reviews because they believed newer employees were being encouraged to write positive ones.
- Lucas Baird and Jonathan Shapiro
Float hopeful Cuscal reveals revenue and cost growth ahead of roadshow
As investor meetings for a planned November IPO kick off next week, Cuscal’s annual report provides a snapshot of the payment company’s growth and challenges.
- James Eyers
Inside the ultra-high-pressure world of Airwallex
The Australian payments giant grew out of a Melbourne coffee shop almost a decade ago and became a global player. But is it ready for prime time?
- Lucas Baird and Jonathan Shapiro
September
- Opinion
- Chanticleer
Payments IPO Cuscal is not what you expect from a fintech
Tech floats are the story of the week in capital markets. One is readying for an ASX-listing worth as much as $600 million, but it is not your typical tech IPO.
- Anthony Macdonald
- Asx Float
- Street Talk
IPO hopeful Cuscal books investor meetings ahead of $300m IPO
The payments outfit will seek to raise around $300 million from investors, valuing the business at up to $500 million.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Major banks singing in unison on new rules for digital platforms
A Financial Review roundtable on the future of payments identified that banks are paranoid Apple and Google may expand their tentacles into other areas of banking.
- James Eyers
Square payment outage raises red flags at the Reserve Bank
Block-owned Square does not report data on reliability and outages to the RBA. That might change after its payments system went down on Friday.
- James Eyers
ANZ declares victory in turnaround of its institutional bank
Sell-side analysts are feeling more positive about the shift in focus in Asia, which is now being driven by payments and transaction banking.
- James Eyers
PayPal targeted by ASIC for contract clause letting it keep wrong fees
The corporate regulator sued PayPal in the Federal Court alleging an unfair clause that let it hold on to overcharged fees if errors weren’t notified to it.
- James Eyers
Tyro sues Canadian competitor for attempting to steal its customers
Tyro has launched a NSW Supreme Court action against Kounta, a subsidiary of Canadian-based Lightspeed, for allegedly soliciting its hospitality clients.
- James Eyers
August
Once valued at $500m, Till Payments is teetering on the brink
It had Will Vicars to Bruce Mathieson, Nick Politis and Craig Laundy as investors. But the company has been finding it hard to become profitable.
- Lucas Baird
Apple says banks are whingeing about the cost of Apple Pay
Apple’s Kyle Andeer told a parliamentary committee the cost of Apple Pay for banks was “set very low and remains very low”.
- James Eyers
PayPal is shifting Aussie dollars onto crypto exchanges
Major banks remain jittery about crypto but the US payment giant PayPal has struck a deal with Independent Reserve to make it easier to invest in Bitcoin, Ether and Ripple.
- James Eyers
- Analysis
- Big four
$3b a year: digital dollar cost savings for banks revealed
New analysis suggests the eAUD, Australia’s proposed central bank digital currency, could offer big savings across the financial system by cutting collateral and capital held against settlement risk.
- James Eyers
