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Read the Flash Payments articles on the topic: "Payments".

ASIC’s Greg Medcraft lashes bank ‘oligopoly’

ASIC’s Greg Medcraft lashes bank ‘oligopoly’

Chairman of the corporate watchdog Greg Medcraft lashed out at the banking “oligopoly” for chipping away at customer trust with sector-wide interest rate hikes out-of-cycle with the Reserve Bank of Australia. “I think every time you do an out-of-cycle increase you chip away that trust,” Mr Medcraft said. “It’s

Are you paying for your banker's $600 lunch?

International Money Transfers

Are you paying for your banker's $600 lunch?

Big banks are overcharging you by bouncing your money around the globe in a giant shell game while they collect fees and enjoy $600 lunches, on you. In this article, we’ll explore how to stop paying for your banker's lunch, by looking at two of the most

Discussing Trends in Global Payments at the GCC Financial Forum

Discussing Trends in Global Payments at the GCC Financial Forum

Hundreds of international financiers, business leaders and policymakers from around the world gathered in Bahrain to discuss the future of financing at last week’s sixth annual GCC Financial Forum, writes Amy Hirth for Ripple Insights. Watch the video here. Marcus Treacher, head of Ripple’s strategic accounts, spoke alongside

How much did your country send and receive in remittances?

How much did your country send and receive in remittances?

In 2015 Australia saw an outflow of remittances of US$16 billion, while it received around US$2 billion. Globally remittances totalled $582 billion according to World Bank figures. The largest source of remittances is probably not unexpectedly the United States which saw over US$133 billion leave the country.

Next Generation of Banknotes: $10 Design Reveal

Next Generation of Banknotes: $10 Design Reveal

The Reserve Bank has revealed the design of the new $10 banknote that will be issued into circulation from September 2017. The images show the basic design artwork on each side of the banknote. The Governor, Philip Lowe, said:‘The $10 banknote celebrates two famous Australian writers, Dame Mary Gilmore

Do Big Corporations Still Need Banks?

Do Big Corporations Still Need Banks?

The Wall Street Journal recently reported that Ant Financial, an affiliate of Alibaba, is involved in a deal to buy U.S. money-transfer business MoneyGram. This news comes just two days after TechCrunch reported that Airbnb is in talks to acquire Tilt, a payments startup that helps groups of people

How to send money overseas, without regret and unexpected costs

International Money Transfers

How to send money overseas, without regret and unexpected costs

whether you are an expat sending money home, whether you are a student paying overseas tuition, whether you are paying overseas invoices, if you are using a bank, you are leaving money on the table. A lot of money. It’s not your fault. An antiquated system of banks and

$582 billion in global remittances: interactive graph

$582 billion in global remittances: interactive graph

Remittances in 2015 totaled an estimated $582 billion according to World Bank figures. These cross-border payments make a huge impact in the countries that receive them. World Bank figures show that in 2015, remittances to Egypt were worth four times as much as revenues from the Suez Canal. In Nepal

Migrants sent over $500 billion home last year.

Migrants sent over $500 billion home last year.

There are now 244 million people living in a country other than the one they were born in, according to migration figures from the United Nations. Many of those people went overseas to find work, leaving their families behind. For a growing number of families, the money their relatives send

Cash Hangs On, survey suggests

Cash Hangs On, survey suggests

Despite what Silicon Valley may have you think, cash still registers. There are signs, however, that cash is losing ground to other payment types. In last year’s study, people used cash 32 per cent of the time. That’s a decline from the last Fed study in 2012, when

Foreign Exchange, primer

Foreign Exchange, primer

Every day around $5 trillion is traded in foreign exchange. While much of it is speculation (trading for the sake of making a profit), foreign currency transfers are essential to enabling global trade. There are many factors driving foreign currency values. Fundamentally it is about the demand and supply of

Big Bank FX - There is always another way...

Welcome to Big Bank FX money transfers. Learn about the ugly truth when sending money overseas. With Flash FX there is now another way. As one the latest entries into the currency transfer business Flash Payments, a cutting edge FinTech start-up based in Sydney Australia, is engineered from the ground

Expat annual forex remittances: $600 billion

Expat annual forex remittances: $600 billion

Foreign exchange transfers is big business. Roughly 250 million expats and migrants sent more than US$600 billion in remittances across the world last year according to the World Bank. In the United Kingdom alone, the export-earnings of small to medium sized businesses generated an extraordinary AU$6.4 billion