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Less than 20% of Australian businesses with sales of more than $1million per annum accept online payments. And some 17% doubt they need to, or have never even considered the possibility. These are two of the more remarkable results of a recent survey of some 2,500 Australian merchants conducted by Sydney based boutique banking research Click on the title to read more Banking analysts survey finds less than 20% of Australian retailers accept payments online. Paymate's home page Listed Australian company, Flexi-Group, has bought the local business of Internet payments company, Paymate. But the deal doesn’t include some of Paymate’s strategic assets, such as its prized position in the checkout at eBay’s US marketplaces. The deal does, however, include Paymate’s checkout position in the eBay Australian marketplace, where Click on the title to read more Flexi-Group buys Paymate’s local (i.e Au & NZ) assets from Paymate Global Inc Australia’s big four banks may have lost as much as $225million on the collapse of BPAY’s project MAMBO. And they may have precious little to show for it. Moreover they’ve embarrassed the Reserve Bank, and have cast renewed doubt over their ability to come up with an effective answer to the online invoicing and instant Click on the title to read more Australian banks to write-off $225million spent on failed Paypal killer – project MAMBO Mambo dancers In a remarkable and unusual fit of openness and transparency, the National Australia Bank (NAB) has announced it is giving up on BPAY’s project to develop a Paypal competitor, known as MAMBO (Me and My Bank Online). In a prepared media statement, the NAB said it could no longer see value for Click on the title to read more NAB gives up on BPAY’s Paypal killer – project MAMBO |
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