Five FinTechs on Friday 4

Innovation is the name of the game here in Australia. Today's series covers an electronic payments solutions provider, real-time payment specialists, a unique banking app to help Australians save on their home loan, a marketplace for third-party fintech payment services and a global privacy enhancing, data exchange technology service.Below are five fintechs you need to know about this week.

	Pax Technology Australia
	PAX Technology is the acknowledged global leader in Android O/S based electronic payment solutions in front of the established brands; Ingenico and VeriFone. PAX’s rapid surfacing in the payments industry is the result of being, first and foremost, an R&D company. They’ve proven the benefit of being agile in what is increasingly becoming a quickly evolving, fintech driven, payments space.They have the best user experience with their mobile phones – sleek design and intuitive interface. So with payment terminals, why subject customers & staff to old fashioned, outdated point of sale terminals?Whether you are in retail, hospitality, public services or entertainment, PAX has the ideal payment solution.
	Azupay
	Azupay are real-time payment specialists, delivering innovative, real-time payment solutions which leverage the New Payments Platform (NPP). Azupay removes the need for merchants to manage PayID's, streamlining the process so they receive instant confirmation of payment settlement, either online or at the point of sale. Azupay also handles complex payment disbursements which is ideal for simultaneously settling supplier payments.For consumers, Azupay is the closest alternative to real cash, as the payment is settled instantly. There’s no registration, no downloads and no sharing of personal or financial information required. And since no card of any kind is required, instances of fraud are drastically reduced.
	Finspo
	Finspo is a free service, designed to help Australians save on their banking. Their research shows that Australians with a home loan are spending around $4500 too much on their banking each year. The Finspo app, which will launch in mid-2020, will use customers’ actual data to give them a clearer picture of their banking, and provide smart insights to help them save.Users will be able to: Know what their banking is really costing them, and see it in a single, clear and easy-to-understand monthly bill Be alerted when their banks and lenders charge fees, or their interest rate changes; and, Receive ‘finsights’ that show them how much could be saved by banking differently Finspo's beta release - Rate my Rate - is already a hit, showing customers how their home loan rate compares.
	Verrency
	Verrency - founded in 2016 - believes the delivery of ubiquitous payment experiences is critical to driving changes in the way consumers pay. Verrency enables Banks and Payment Processors to rapidly deliver new payment innovations to market around the point of payment with no merchant integration required. Verrency’s customisable platform enables Banks to seamlessly deliver value-add services with limited capex spend, at speed, with standardised connections to Fintechs.During COVID-19, the team is working with clients to deliver services that enable greater spending power for consumers by enabling customisable benefits, merchant discounts/cashbacks and access to instalment lending at point of payment.
	ID Exchange
	ID Exchange offers global Privacy Enhancing, Consent and Data Exchange technologies in partnership with UK firm digi.me. During the COVID-19 crisis, demand for secure B2B2C or Me2B (consumer-centric) data facilitation has skyrocketed.Locally, ID Exchange is collaborating with market leaders DXC Technology and SISS Data Systems to provide affordable plug and play infrastructure to fast track key sectors. By placing the consumer at the centre of data controls, their decentralised technology enables Banks, ADI’s and FinTechs to rapidly unlock the value of Open Banking by mobilising richer, wider and consented personal data through 1000’s of interoperable data sources.