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Payments

Global payments company TransferWise has become the first company in more than 10 years to be granted a Purchased Payment Facility (PPF) licence from APRA.

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The buy now, pay later segment has continued to soar, almost doubling the amount of credit it extended in the 2018-19 financial year, while personal credit cards saw close to no growth, according to new data.

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Westpac has sold its 10.7 per cent stake in Zip Co, after teaming up with buy now, pay later rival Afterpay.

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While Afterpay is still green behind the ears, co-founder Anthony Eisen is already thinking about how he’ll manage succession at the fintech heavy hitter.

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Bendigo Bank has signed ASX-listed fintech Tyro Payments as its exclusive merchant acquiring partner for its business banking customers.

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