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Novatti partners with leading global card payment company UnionPay

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ASX-listed Australian fintech company Novatti Group Limited, a leading digital banking and payments company, has partnered with leading global card payment company, UnionPay.

UnionPay has more than 8.4b cards issued globally and a network spanning 179 countries and regions, highlighting its immense scale.1 In Australia alone, UnionPay is accepted by 90% of ATMs, 85% of point of sale terminals, and by major retailers such as Coles and Target.2

The partnership with UnionPay will drive growth in Novatti’s core payment processing business, with Novatti appointed as a UnionPay acquirer, providing UnionPay customers with access to Novatti’s merchant and transaction services across Australia.

The partnership will benefit other Novatti businesses, including ChinaPayments, Novatti’s China-focused, cross-border payments platform, which enables Chinese residents to pay Australian bills in Chinese currency. UnionPay has already been integrated into ChinaPayments, with transactions using UnionPay accounts already taking place. Further, ChinaPayments will shortly be integrated into the UnionPay app, providing eligible UnionPay users with direct access to ChinaPayments.

The partnership with UnionPay adds to Novatti’s growing list of tier-one global partners, including Visa, Alipay, WeChat Pay, Google Pay, Samsung Pay, Marqeta, and Decta. Growing commercial relationships and payments processing networks with these major partners underpins a core pillar of Novatti’s long-term revenue growth strategy, leveraging Novatti’s existing platforms and infrastructure to deliver more services and gain a greater share of wallets with our customers.

Managing Director of Novatti, Peter Cook, said, ‘We are thrilled to be partnering with UnionPay, a leading global card payment company. Through this partnership, Novatti will drive continued growth in our payment processing business, delivering further value from our existing platforms and technology.’


1. UnionPay International – https://www.unionpayintl.com/en/aboutUs/companyProfile/introductiontoUPI/ & https://m.unionpayintl.com/wap/en/mediaCenter/newsCenter/marketUpdate/7157.shtml

2. UnionPay International – https://m.unionpayintl.com/wap/en/mediaCenter/newsCenter/marketUpdate/6932.shtml

Source: https://australianfintech.com.au/novatti-partners-with-leading-global-card-payment-company-unionpay/

Blockchain

Banque de France Successfully Completes First CBDC Transactions

Europe

Banque de France (the French central bank) has announced the successful testing of its central bank digital currency (CBDC) in collaboration with multiple financial and tech groups. The experiment was considered to be successful on December 17th of 2020 but wasn’t announced until January 19th of this year via a press release. It was completed […]

The post Banque de France Successfully Completes First CBDC Transactions appeared first on Blockonomi.

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Banque de France (the French central bank) has announced the successful testing of its central bank digital currency (CBDC) in collaboration with multiple financial and tech groups.

The experiment was considered to be successful on December 17th of 2020 but wasn’t announced until January 19th of this year via a press release. It was completed in collaboration with IZNES, SETL, CACEIS, CITIGROUP, GROUPAMA AM, OFI AM, and DXC.

Conducted by Banque de France and its collaborators, the experiment consisted of the subscription and redemption of money market funds using blockchain technology provided by SETL, with over 2 million euros being transacted during the experiment (PDF).

Banque de France Shows Interest in Digital Currency Rising

The bank opened applications for CBDC experimentation back in March of 2020 intending to explore the potential offered by the technology, as well as identifying concrete cases in which CBDC could be integrated into innovative procedures.

Multiple countries in the European Union have been vocal about their interest in developing a digital Euro, with other countries like Italy and the Netherlands taking steps in proposing legislation and experimenting with blockchain technology in collaboration with local banks.

A Successful Experiment

SETL, in collaboration with the BDF and IZNES technology teams, provided the distributed ledger technology (DLT) and the underlying infrastructure for the issuance and redemption of the CBDC tokens.

The central bank then issued CBDC tokens on the private blockchain to simulate cash settlements by developing and deploying smart contracts. The bank was able to issue and control the circulation of the tokens throughout the simulation process.

On the other hand, CITI and CACEIS collaborated by purchasing CBDS tokens as participating commercial banks, which allowed the experimenters to replicate possible real-life scenarios and workflows.

While this experiment was a success, other experiments will be running until mid-2021, according to the bank as it hopes the findings “will be an important part of the Banque de France’s contribution to the Eurosystem’s more global reflection on the benefits of CBDC.”

Digital Currencies Powered by Blockchain Are the Future

The successful completion of this experiment represents an important step forward toward the adoption of CBDC by allowing regulators and legislators to assess the positive impact digital currencies can have on the national economy.

By using blockchain technology, central banks will be able to enhance the efficiency and resilience of financial transactions, while improving security and accessibility by settling them on-chain.

Sir David Walker, SETL Chairman, referred to the results by stating: “The successful completion of a central bank digital currency live experiment with BDF confirms that SETL is uniquely positioned to help transform Financial Markets. We are delighted to be recognized for the role we play in these significant market transformation programs.”

While some CBDCs use blockchain technology as their backbone, they are different from cryptocurrencies like Bitcoin and Ethereum due to the centralization of the ledger and the ability of central banks to regulate the issuing and supply of the currency.

A Boost for the Industry as a Whole

However, this new application of blockchain technology could further boost blockchain adoption and have an impact on how everyday people interact with digital assets, facilitating the transition to cryptocurrencies and decentralized platforms.

This collaboration also provides the companies participating in them with important data that could lead them to further develop their technology for the benefit of the entire blockchain ecosystem:

In the words of Philippe Morel, SETL CEO: “Further to the successful delivery of our two market infrastructures – the Fund Platform IZNES and the ID2S Central Securities Depository, we are now excited to take our Payments offering to the next level. Together with our proven track record in delivering regulated Market Infrastructures, this further strengthens SETL’s strategic capabilities.”

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Source: https://blockonomi.com/banque-de-france-successfully-completes-first-cbdc-transactions/

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Blockchain

JPMorgan Sebut Grayscale Jadi Kunci Stabilitas Harga Bitcoin Saat Ini

Kanalcoin.com –  Perusahaan manajemen aset digital terbesar di dunia, Grayscale Investments, disebut-sebut menjadi pemegang kunci harga bitcoin (BTC) bisa stabil sampai saat ini. Hal tersebut disampaikan oleh peneliti dari JPMorgan Chase. JPMorgan melakukan penelitian yang dipimpin oleh ahli strategi keuangan bernama Nikolas Panigirtzoglou. Dalam penelitian yang dilakukan Nikolas tersebut, bitcoin diperkirakan akan kehilangan masa kejayaannya […]

The post JPMorgan Sebut Grayscale Jadi Kunci Stabilitas Harga Bitcoin Saat Ini appeared first on Kanalcoin.

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JPMorgan Sebut Grayscale Jadi Kunci Stabilitas Harga Bitcoin


Kanalcoin.com –  Perusahaan manajemen aset digital terbesar di dunia, Grayscale Investments, disebut-sebut menjadi pemegang kunci harga bitcoin (BTC) bisa stabil sampai saat ini. Hal tersebut disampaikan oleh peneliti dari JPMorgan Chase.

JPMorgan melakukan penelitian yang dipimpin oleh ahli strategi keuangan bernama Nikolas Panigirtzoglou. Dalam penelitian yang dilakukan Nikolas tersebut, bitcoin diperkirakan akan kehilangan masa kejayaannya dalam jangka pendek.

Akan tetapi, Nikolas menyebut kalau ada satu syarat yang membuat bitcoin bisa saja tidak kehilangan level tertinggi mereka saat ini. Satu hal yang dimaksud adalah harga bitcoin bisa menembus angka di atas $ 40 ribu atau sekitar Rp 564 juta per tokennya.

Sebenarnya, bitcoin sempat menembus harga di atas $ 40 ribu beberapa waktu yang lalu. Akan tetapi, hal tersebut hanya terjadi sebanyak dua kali dalam bulan Januari ini. Satu kali saat harga bitcoin mencapai yang tertinggi sepanjang masa, yakni $ 42 ribu (Rp 592 juta). Satu kali yang lainnya adalah terjadi pada minggu lalu.

Namun, stabilnya harga bitcoin di atas $ 40 ribu akan dipengaruhi oleh satu pihak. Menurut para ahli strategi keuangan JPMorgan, Grayscale Bitcoin Trust memegang peran penting dalam kondisi tersebut.

Hal itu dikarenakan, Grayscale Bitcoin Trust saat ini memiliki aset bitcoin sebesar $ 23 miliar (Rp 324,23 triliun) yang mereka kelola. Oleh karena itu, Grayscale memegang peranan yang sangat penting dalam stabilitas harga bitcoin saat ini.

Kendati demikian, Grayscale Bitcoin Trust harus terus menjaga konsistensi aliran bitcoin ke dalam perusahaan mereka dengan nilai sebesar $ 100 juta per harinya secara berturut-turut dalam hitungan hari dan minggu.

“Aliran ke Grayscale Bitcoin Trust kemungkinan akan perlu mempertahankan kecepatannya sebesar US $ 100 juta per hari selama beberapa hari dan minggu mendatang agar terobosan seperti itu terjadi,” tulis para ahli strategi keuangan, dikutip Kanalcoin.com dari Cointelegraph.

Sejak bitcoin menembus harga $ 20 ribu per tokennya, bitcoin mengalami kenaikan harga yang luar biasa ekstrem dalam tiga minggu. Bitcoin mampu melonjak mencapai dua kali lipat hanya dalam waktu yang sangat singkat.

Salah satu faktor yang mempengaruhi hal tersebut memang disebut-sebut adalah Grayscale. Pengaruh Grayscale kepada naiknya harga bitcoin cukup besar sampai saat ini. Arus masuk mingguan rata-rata saja mampu menyentuh angka $ 250,7 juta pada kuartal keempat.

Angka tersebut merupakan yang paling tertinggi sepanjang masa dalam sejarah Grayscale. Padahal, sebelumnya Grayscale hanya menghasilkan arus masuk sebesar $ 217,1 juta rata-rata per minggu.

Naiknya arus masuk yang dialami Grayscale Bitcoin Trust tersebut bukan tanpa alasan. Hal tersebut dikarenakan Grayscale membuka kembali layanannya kepada para investor baru pada 13 Januari yang lalu.

(*)


Source: https://www.kanalcoin.com/jpmorgan-sebut-grayscale-jadi-kunci-stabilitas-harga-bitcoin-saat-ini/

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Blockchain

Mulai Rambah Dunia Bitcoin, PayPal Diprediksi Dapat Pemasukan hingga $ 2 Miliar

Kanalcoin.com –  Perusahaan keuangan dan pembayaran digital terbesar di dunia, PayPal, diperkirakan akan memperoleh pendapatan mencapai $ 2 miliar atau sekitar Rp 28,14 triliun dari bisnis bitcoin yang mulai mereka rambah beberapa waktu belakangan. Hal tersebut disampaikan oleh seorang analis dari Mizuho Securities, Don Dolev. Dolev menyampaikan kalau PayPal bisa saja mendapatkan pendapatan sebesar $ […]

The post Mulai Rambah Dunia Bitcoin, PayPal Diprediksi Dapat Pemasukan hingga $ 2 Miliar appeared first on Kanalcoin.

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Paypal Rambah Bitcoin


Kanalcoin.com –  Perusahaan keuangan dan pembayaran digital terbesar di dunia, PayPal, diperkirakan akan memperoleh pendapatan mencapai $ 2 miliar atau sekitar Rp 28,14 triliun dari bisnis bitcoin yang mulai mereka rambah beberapa waktu belakangan.

Hal tersebut disampaikan oleh seorang analis dari Mizuho Securities, Don Dolev. Dolev menyampaikan kalau PayPal bisa saja mendapatkan pendapatan sebesar $ 2 miliar dari bisnis bitcoin mereka pada 2023 mendatang.

Dolev menyampaikan kalau faktor yang mempengaruhi prediksinya tersebut adalah naiknya tingkat penggunaan aplikasi PayPal oleh para pengguna. Pasalnya, ada sekitar 50 persen pengguna mata uang kripto membuka aplikasi PayPal setiap harinya.

“Baik survei dan komentar manajemen kami mengungkap peningkatan dramatis dalam keterlibatan karena crypto,” ucap Dolev, dikutip Kanalcoin.com dari News.Bitcoin.com.

PayPal sendiri mengumumkan pada Oktober 2020 lalu kalau mereka saat ini mulai merambah ke dunia bitcoin. PayPal menyebut kalau 346 juta pengguna aplikasi mereka kini bisa membeli, menyimpan, dan menjual bitcoin dan aset digital lainnya melalui akun PayPal milik mereka.

PayPal menggunakan layanan pertukaran mata uang fiat ke mata uang kripto, yakni Paxos dan Itbit sebagai partner mereka. Sejak diumumkan, bisnis mata uang kripto PayPal mendapat respon positif dan banjir peminat.

Bahkan, survei yang dilakukan Dolev menyebutkan kalau para trader bitcoin (BTC) menggunakan aplikasi PayPal tiga kali lebih sering dibandingkan para pengguna yang tidak terlibat di dunia bitcoin. Hal tersebut terjadi setelah PayPal mengumumkan keikutsertaan mereka di dunia bitcoin.

Selain itu, para trader juga disebutkan memiliki jumlah saldo BTC lebih tinggi di Paypal daripada di dompet digital mereka selainnya.

Di sisi lain, seorang analis dari Moffett Nathanson, Lisa Ellis, memperkirakan PayPal akan memperoleh pendapatan mencapai $ 600 juta atau sekitar Rp 8,44 triliun dari lini bisnis bitcoin mereka pada 2021 ini. Selain itu, Ellis juga percaya kalau lini bisnis mata uang kripto yang dimiliki oleh PayPal saat ini bisa berkontribusi dalam keuangan jangka panjang perusahaan.

“Dalam jangka panjang, kami percaya inisiatif cryptocurrency Paypal memiliki nilai strategis yang signifikan,” ucap Ellis.

Selain mempengaruhi faktor keuangan, keputusan untuk masuk ke lini produksi bitcoin membuat PayPal menjadi aplikasi tujuan bagi para pelanggan sebagai layanan keuangan yang melayani berbagai kebutuhan.

PayPal nantinya juga akan diposisikan sebagai pihak yang membantu membentuk peran jangka panjang mata uang kripto dalam sistem pembayaran yang dilakukan oleh konsumen.

Sementara itu, saham PayPal sendiri saat ini diprediksi akan naik hingga menyentuh angka $ 350 yang semula hanya diperkirakan menyentuh angka $ 290. Selama setahun terakhir, saham PayPal sempat menyentuh harga tertinggi $ 249,85 dan terendah pada angka $ 82,07. Kenaikan harga saham PayPal tersebut juga diperkirakan berkat lini bisnis bitcoin.

(*)


Source: https://www.kanalcoin.com/mulai-rambah-dunia-bitcoin-paypal-diprediksi-dapat-pemasukan-hingga-2-miliar/

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AI

Trovata.io raises $20 million to aggregate enterprise bank accounts with AI

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Banking technology startup Trovata.io today announced it has raised $20 million in a series A round led by Wells Fargo Strategic Capital. The investment will be used to deliver new services and accelerate multi-bank APIs globally, the company says, and to add more bank distribution partners.

Trovata founder and CEO Brett Turner, who has spent time at Deloitte and Amazon, predicted that the rise of consumer bank aggregators driving fintech would lead to direct APIs for commercial banking and treasury services from banks globally. These prebuilt bank integrations, he believed, would remove enterprises’ need for legacy implementations or IT support and enable self-setup.

Turner launched 35-employee Trovata in 2019 in anticipation of the transformation, with a platform to aggregate companies’ bank balances and transactions natively on wholesale banking APIs. Using AI and machine learning, Trovata can automate cash-centric workflows such as cash reporting, analysis, and forecasting, allowing companies to see how much cash they have in real time while managing cash flow and building and maintaining forecasts.

Trovata acts as a high-performance data lake to store and manage bank data in a scalable multi-bank environment. The platform collects and normalizes data and then generates a forecast, leveraging machine learning to establish a baseline and analyze historical trends to increase forecast accuracy.

Trovata lets customers including Square tag data by region, entity, division, or arbitrary label. It also translates all non-USD denominated amounts into USD equivalents, offering the ability to drill down and generate forecasts for subsidiaries individually. A Google-like natural language search tool with a 300 millisecond response rate lets users find and tag key vendors, customers, and partners across millions of transactions.

“The tipping point is near, and … Trovata can play [a profound role] in wholesale banking and treasury services. The pandemic has spurned the need for better cash visibility, bank data in real time, and more proactive cash forecasting. Companies growing and contracting are in need of these things which have only accelerated interest,” Turner said in a statement. “Revenue is confidential, but our average deal size is roughly $25,00 and we’ve grown from 0 to nearly 100 mid-market and small enterprise customers in 18 months. We’ll be announcing a new up-market product for the enterprise later this month and expect to grow 4 times to 5 times this year.”

“We are keen on how technology is reinventing the treasury function into a modern, insight-driven operation that helps our clients deliver on their business strategy,” Wells Fargo Strategic Capital managing director Basil Darwish added. “Trovata provides distinctive technology and a client-centric approach to automating treasury services, and we’re excited to support their ongoing growth with this investment.”

Capital One Ventures and Pivot Investment Partners also participated in Trovata’s series A announced today, as well as existing early investors J.P. Morgan and Fintop Capital. This brings the San Diego-based company’s total raised to over $30 million, following seed and venture rounds totaling $10.6 million.

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Source: https://venturebeat.com/2021/01/19/trovata-io-raises-20-million-to-aggregate-enterprise-bank-accounts-with-ai/

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