Visa launches program to help creators navigate NFTs

One-year immersion program will bring together a global cohort of creators interested in building their business with NFTs

Right now, some 50 million artists, musicians and creators of all stripes publish content as a full- or part-time source of income1. With an estimated market size of more than $100 billion2, the creator economy is one of the fastest-growing categories of small business3.

To support this growth, today, we’re launching the Visa Creator Program, an initiative that aims to help digital-first artists, musicians, fashion designers, and filmmakers accelerate their small business through non-fungible tokens (NFTs). Each cycle of the program will support a selected group of entrepreneurs looking to deepen their understanding of the technology and platforms underpinning NFT commerce.

Growing a business with NFTs

Because NFTs can establish ownership and authenticity of digital goods and media, like images, videos, and music, they can help creators generate revenue and grow their business.

“NFTs have the potential to become a powerful accelerator for the creator economy,” said Cuy Sheffield, head of crypto, Visa. “We’ve been studying the NFT ecosystem and its potential impacts on the future of commerce, retail and social media. Through the Visa Creator Program, we want to help this new breed of small and micro businesses tap into new mediums for digital commerce.”

Community, mentorship and access for emerging artists

The Visa Creator Program is geared towards entrepreneurs working in art, music, fashion and film who are serious about incorporating NFTs into their business model, whether they’ve just minted their first NFT or have several successful drops under their belt.

“In the early days of my NFT career, I relied on a community of NFT experts and advocates to ground me in this new world,” says Micah Johnson, former professional athlete, the artist behind Aku, and one of the first participants to work with the Visa Creator Program. “I’m excited to work with Visa in providing that same type of mentorship to emerging artists setting out on their NFT journey.”

Selected creators will join a cohort-driven program designed to build and deepen their fluency in crypto commerce and traditional payments. The program is focused on supporting creators in five key area:

  • Technical and product mentorship: Mentorship with Visa’s team of crypto product and strategy leaders, to cover topics including: evaluating tradeoffs between underlying blockchain networks, smart contracts, and NFT marketplaces.
  • Community building: The opportunity to exchange ideas and problem-solve with a community of creators in various stages of their NFT journey.
  • Access to thought leaders: Hear from leading edge thinkers and researchers working across digital commerce, web3, crypto and payments.
  • Exposure to Visa’s clients and partners: Opportunities to engage with companies across Visa’s network of clients and partners.
  • Stipend: One-time stipend to help creators kick-start the next phase of growth.

Supporting new forms of small business

The Visa Creator Program is part of Visa’s ongoing efforts to help small and micro businesses gain greater access to the digital economy. Through community-based initiatives like the Visa Creator Program and She’s Next, Visa is focused on digitally enabling small and micro businesses through opportunities to access funding, resources and expertise.

As the concept of ‘small business’ continues to expand and evolve, from mom-and-pop storefronts to content creators and gig economy workers, Visa is excited to support the next generation of entrepreneurs in scaling a business and getting paid.

To learn more about the Visa Creator Program and how to get involved, visit the Visa Creator Program.

GPS announces new partnership with Mastercard

Global Processing Services announces new partnership with Mastercard to power ‘Next Generation Payments’ technology to global fintechs

  • Mastercard deepens a decade long collaboration with GPS, launching and scaling hundreds of card programmes for some of the most successful fintechs in the world
  • GPS recently raised over US$400 million in new capital to accelerate investment in open API, cloud-based technology, driving global expansion into many of the world’s largest markets over the next three years

Global Processing Services (“GPS”), a leading global payment technology platform, today announced a new strategic partnership with Mastercard.

Today’s announcement expands on the two firms’ longstanding relationship stretching back over a decade. Together, GPS and Mastercard have worked in partnership to launch and scale hundreds of card programmes for some of the most successful and innovative fintechs in the world including RevolutStarling Bank and Curve, amongst many others across Europe and Asia-Pacific.

In January 2022, GPS announced a significant capital injection of over US$400 million providing GPS with a bench of experienced global growth investors including Advent International – through Advent Tech and affiliate Sunley House Capital – Viking Global InvestorsTemasek, the global investment company headquartered in Singapore; and MissionOG, a US-based growth equity firm.

GPS intends to invest strongly in international expansion and product development with an eye on new and fast-growing verticals where adoption continues to rise including digital banks, crypto, BNPL, open banking and cross border payments, and as a result, Mastercard has made a strategic investment into the company.

GPS plays a crucial role in enabling fintech customers of networks such as Mastercard to deliver a trusted and dynamic digital commerce experience to billions of consumers who use physical and virtual cards – innovatively, quickly, and securely.

Through GPS’s modern and agile cloud-based technology, fintechs can access a diverse and expanding suite of modern open APIs that enable ambitious and disruptive players to scale at speed. Fintechs can also access GPS’s unique ecosystem of international partners, freeing them up to focus their time and resources on what truly matters to them – delivering an exceptional customer experience and continuous product innovation that disrupts and advances traditional banking, payment and lending services.

Jason Lane, Executive Vice President Market Development Europe, Mastercard, said: “We are excited to be formalising our partnership with GPS, working with them to build the fintechs of the future. Mastercard has a long history of partnering with fintechs, ensuring we have the programmes, products and tools that every innovative financial company needs even as the sector continues to evolve. We provide the solutions and expertise to iterate with fintech companies at each stage, transform together and achieve scale at pace.”

Joanne Dewar, Chief Executive Officer at GPS, said: “Our partnership with Mastercard is a resounding endorsement of our API-first payment technology platform and our bold vision for the future of payments. Together, for over a decade, we have helped to reliably scale many customers at speed. We welcome them as a GPS investor and we are ready to support many more future Mastercard fintech customers to scale into global businesses with the innovation, speed, and security they expect.”


Louisa Bartoszek / Sumeet Vermani

GST reform in post COVID-19 Australia

Since Australia’s Goods and Services Tax (GST) was introduced in 2000, there have been numerous opinions over the years on what role GST has in the tax reform agenda.

This report highlights views from tax experts on broadening the base or increasing the rate.

In a post COVID-19 environment, GST reform has returned to the fore as a means through which to achieve economic growth – generate revenue to support ongoing government expenditure.

Whether it’s broadening the base to remove exemptions or increasing the rate, GST reform has been a politically sensitive topic for years.

However, given the pandemic induced deficit and long-term economic impacts, GST reform may well have a central role to play in providing sustainable revenue growth and productivity gains through the abolition of less efficient taxes


  1. The case for GST reform in Australia
  2. The background for reform globally
  3. Local calls for reform
  4. Broadening the base, reducing inequality
  5. Ways to remove complexity

This report presents the varied perspectives and viewpoints of key tax specialists around the country on proposed GST tax reform.

Download the report here

PSC Insurance Brokers joins FinTech Australia’s partnership program

PSC Insurance Brokers (PSC), part of PSC Insurance Group an Australian-owned multi-national ASX listed insurance broker, has joined FinTech Australia’s partnership program offering industry boards and management teams access to experienced insurance advice and global broking solutions.

FinTech Australia’s ecosystem partnership program helps companies collaborate with the fintech sector and foster relationships with its key players.

The addition of PSC as a corporate partner of FinTech Australia comes after PSC’s launch of a joint initiative with PSC’s UK portfolio business, Paragon International Insurance Brokers (Paragon), aimed at specialist risk advice to the Australian professional, technology and financial services sectors. Paragon’s expertise is across Directors & Officers, Financial Technology Errors & Omissions, Cyber and Mergers & Acquisitions insurance.

Rhys James, a Managing Principal with PSC, said: “We are thrilled to partner with FinTech Australia as we have worked for over a decade negotiating cover for growth stage start-up and public fintech clients in Australia, United Kingdom and the United States.  This partnership will help deliver targeted insurance services and resources for Australian fintech boards and management teams.”

FinTech Australia’s Head of Strategic Partnerships Rehan D’Almeida added: “Insurance is vital in building any financial business, yet there is work to be done in raising awareness across our members of various products and new trends in the industry. We welcome Rhys and PSC colleagues in Sydney, Melbourne, as well as each Australian capital city, as an insurance partner of FinTech Australia.”

Key Contacts

PSC Insurance Brokers
Rhys James, Managing Principal at PSC
0498 365 377

FinTech Australia
Harrison Polites
0409 623 618

About PSC Insurance Group

PSC Insurance Group is a high-growth international insurance platform that harnesses the energy and successes of its portfolio businesses. With operations in Australia, New Zealand, United Kingdom and Hong Kong, PSC is an Australian owned multi-national ASX listed insurance broker and has an annual premium volume over AUD $2Billion.

About Paragon International Insurance Brokers

Paragon is a specialist insurance broker, operating in the Lloyd’s of London, Bermuda, European and International Specialty markets. Paragon has market-leading capabilities and experience in the Financial, Professional and Casualty Lines sectors. With a broad, independent platform, Paragon delivers the best services and resources for clients, to deliver risk transfer solutions, claims advocacy and risk management services. Its bespoke, highly-personalised approach is unique in the insurance industry.

About FinTech Australia

FinTech Australia is a national association for the Australian fintech startup community. Our vision is to make Australia the leading market for fintech innovation and investment by working with both sides of government, industry and the Australian fintech community to create a supportive environment and partner ecosystem in Australia and abroad.

Paragon: Guide to Insurance Support for Start-ups and Scale-ups

PSC Insurance Brokers and Paragon International Insurance Brokers are part of PSC Insurance Group (ASX: PSI)

Paragon is a specialist insurance broker, operating in the Lloyd’s of London, Bermuda, European and International Specialty markets. We have market-leading capabilities and experience in the Financial, Professional and Casualty Lines sectors.

With a broad, independent platform, we can deliver the best services and resources for our clients and broker partners.


FinTech Australia welcomes Temenos to its corporate partner program

Global banking software company Temenos has joined FinTech Australia’s corporate partner program. It joins Facebook, Xero, Amazon Web Services (AWS) and over 21 others as the latest company to join the program.

FinTech Australia’s ecosystem partnership program helps companies collaborate with the fintech sector and foster relationships with its key players. Last year marked a new record for the program, with over 14 major companies signing up in 12 months.

A specialist in creating bank-ready technology, Temenos helps fintechs embed their solutions within major financial institutions. The company recently launched its Temenos Exchange marketplace, aimed at accelerating bank and fintech integrations.

“We welcome this partnership with Temenos as bank partnerships play an instrumental role in Australia’s fintech ecosystem. Yet ensuring emerging fintech technology is bank-grade upon launch remains a challenge for the sector,” FinTech Australia Head of Strategic Partnerships Rehan D’Almeida said.

“Temenos is tackling a key issue in the global fintech industry. So we welcome their engagement with FinTech Australia and our local ecosystem and look forward to working closely with them.”

Phillip Finnegan, Managing Director – Pacific Region, Temenos, said: “We are pleased to join FinTech Australia and are committed to open collaboration and innovation in the banking ecosystem. Temenos has developed the industry’s standard banking platform, open to fintechs in Australia to easily create solutions on top and scale across a vast banking audience that serves the banking needs of 1.2 billion people worldwide.”

Media contact
Harrison Polites
0409 623 618

About FinTech Australia

FinTech Australia is a national association for the Australian FinTech Startup community. Our vision is to make Australia the leading market for FinTech Innovation and Investment by working with both sides of Government, Industry and the Australian FinTech community to create a supportive environment and partner ecosystem in Australia and abroad.

New Economist Intelligence Unit Report: Capturing Value In The Cloud

The Economist Intelligence Unit (EIU), supported by Temenos, surveyed over 200 global banking IT executives, to understand their experiences with cloud. Download the report today for insights on the state of cloud-based banking and its future.

Cloud adoption by banks has accelerated since the start of the pandemic, as banks seek to cut costs and ramp up digital transformation projects. But challenges around security, governance and skills remain. What is the state of cloud-based banking in 2021? What are banks’ drivers and strategy for cloud adoption and what barriers do they still need to overcome?

Temenos and the Economist Intelligence Unit have sought the answers to these questions and more in a new report: Capturing Value in the Cloud, incorporating data from over 200 global banking IT executives.

Key Findings


  1. 72% of IT executives at banks report that incorporating the cloud into their organisation’s products and services will help them to achieve their business priorities, with nearly half (47% saying it will do so “to a great extent”).
  2. Business agility, elasticity and scalability are together cited by 40% of respondents as top drivers of cloud adoption.
  3. 82% of IT executives say they have a clear strategy for adopting cloud technology
  4. 81% of respondents agreed that a multi-cloud strategy will become a regulatory prerequisite by 2025

Read full report here

DNX Solutions joins FinTech Australia corporate partner program

Cloud technology provider DNX Solutions has joined FinTech Australia’s corporate partnership program. It joins other major technology companies such as Facebook, Google, Amazon Web Services (AWS) and Xero, all of whom have become members in the past 12 months.

FinTech Australia’s ecosystem partnership program helps foster relationships with the fintech industry’s key players and help companies better collaborate with the sector. The program has grown exponentially in 2021, signing over 14 partners in the past 12 months.

In joining the program, DNX Solutions said it wanted to level the playing field for emerging fintechs with cloud solutions.

“Our goal is to democratize cloud technology. We want companies to have the most modern and secure solutions available in the market,” Allan Denot, CTO from DNX Solutions said.

“We’re focused on compliance and security, which we know are crucial for the fintech industry. This is why we’re keen to further engage with the fintech sector and ensure they are getting the most out of their cloud solution.”

FinTech Australia Head of Strategic Partnerships Rehan D’Almeida said: “Cloud technology underpins the growth and development of all startups, but it plays a particularly important role in fintech, where it can work to support regulatory compliance.

“As such, we welcome DNX Solutions’s involvement with the sector, and look forward to working with them as part of our partnership program.”

Media contact
Harrison Polites
0409 623 618

Airwallex bolsters ASEAN presence with regulatory approval in Singapore

Airwallex, a global fintech platform, today announced at Singapore FinTech Festival that its Singapore entity, Airwallex (Singapore) Pte Ltd, has been granted a Major Payment Institution License by the Monetary Authority of Singapore (MAS) under the Payment Services Act. Airwallex is permitted to provide a suite of payment services including account issuance, domestic money transfer, cross-border money transfer, merchant acquisition and e-money issuance. 

Airwallex will progressively introduce a suite of product and service offerings that will enable businesses in Singapore to operate and grow across the ASEAN region and globally. This includes a modern global business account, multi-currency wallet, company and employee cards, spend management, online payments, international collection & transfer and other value-add solutions for Small and Medium-sized businesses, as well as an API for larger enterprise businesses that require embedded payments and financial services. 

Jack Zhang, CEO and Co-founder of Airwallex said, “We are pleased to have received regulatory approval in Singapore as we continue to make steady progress in Southeast Asia, scaling our payment offerings and solutions in the region for our customers. Receiving this approval reflects our robust policies, compliance framework and risk management systems we have put in place. We will continue to work closely with regulators and partners to ensure we facilitate a safe, effective and transparent way to manage their cross-border financial transaction needs. We look forward to launching our services in Singapore next year and enabling businesses in Singapore to operate globally without borders.” 

Founded in 2015, Airwallex is one of the fastest growing financial technology companies today. The company has nearly doubled its headcount in 2021 to over 1,000 employees today across 19 locations globally, including Singapore. In September, the company also announced its entry in Southeast Asia after securing a money service business (MSB) license in Malaysia, followed by news of a US$200 million Series E fundraising round, raising its valuation to US$4 billion as it continues to focus on its regional and global expansion.

For more information:

Gina Daryanani

About Airwallex

Airwallex is a global payments platform with a mission to empower businesses of all sizes to grow without borders, and by doing so, contribute to the global economy. With technology at its core, Airwallex has built a financial infrastructure and platform to help businesses manage online payments, treasury and payout globally, without the constraints of the traditional financial system. Airwallex has secured over US$700 million since it was established in 2015, and is backed by world-leading investors. Today, the business operates with a team of over 1,000 employees across 19 locations globally. For more information, please visit

As the Australian borders open, Open Banking gets ready for take off

Frollo’s ‘State of Open Banking 2021’ shows Open Banking is at a tipping point, with a wave of new use cases expected in the next 12 months

Australian Open Banking provider Frollo has published the second edition of its yearly industry report, ‘The State of Open Banking 2021’. The report shows an industry that’s ready for take-off, as data availability has accelerated, APIs have proven to be fast and reliable, and people are more excited than ever to get started with Open Banking.

Ready for take off

Over the last 18 months the Open Banking ecosystem has improved measurably, and now delivers the coverage and performance required to build great user experiences. 

In the first 10 months of 2021, 70 banks started sharing consumer data and 14 businesses became Accredited Data Recipients. This is an increase from just 5 Data Holders and 5 Data Recipients in 2020. 

And significantly, more are getting ready: The industry survey shows 62% of respondents plan to use Open Banking data within the next 12 months, and 38% within the next 6 months.

The new CDR access models announced by the Treasury earlier this year will likely help fintech’s, brokers and financial advisers get started, although there’s still a lot of uncertainty about what these models really mean. 1 in 3 respondents have no idea which of these models they would consider for their business.

The most popular use cases can be grouped into three categories:

  • Lending: Income & Expense verification (highly valued by 59% of respondents) and credit scoring algorithms (37%)
  • Money management: Multibank aggregation (50%) and Personal Finance Management (50%)
  • Verification: Customer onboarding (49%), Identity verification (38%), account verification (34%) and balance checks (30%) 

Room for improvement

Although the survey shows a lot of growth, there’s still room for improvement. The biggest challenges that respondents see to achieving their CDR objectives are consumer education & uptake (32%), complexity & clarity of the rules (23%) and cost (18%). The latter two could in part be solved with the new CDR access models like the Affiliate, Representative and Trusted adviser model. 

The former is in line with how respondents rate the Federal Government’s consumer education efforts to date (3.9/10) and will likely improve when more use cases are launched and the government starts its consumer awareness campaign early next year.

What’s next?

The Consumer Data Right will cover much more than just accessing the banking products that are currently available. Respondents are keen to see this expansion, especially with various other financial products, and of course Open Banking payments and financial product switching – both of which could be part of what is called ‘Action Initiation’ on the CDR roadmap.

The most popular additions to the CDR roadmap are:

  • Financial product switching (83% would find this valuable for their organisation)
  • Open Banking payments (78%)
  • Sharing data from superannuation products (75%)
  • Sharing data from investment products (72%)
  • Sharing data from the insurance sector (71%)

Other sectors attract less interest, but over 50% of respondents would still find them valuable for their organisations:

  • Sharing Government data, for example health, and Government payments (66%)
  • Sharing data from the energy sector (55%)
  • Sharing data from the telco sector (53%)


Looking back, year one of the Consumer Data Right could be considered one big Proof of Concept, in which the ecosystem proved capable of building and delivering engaging Open Banking use cases.

With many of the regulatory, data and technological building blocks in place, the time is right to start building Open Banking powered consumer experiences. Year Two will see access to Open Banking increasing with many more consumers able to access Open Banking in many more places.

Learn more

The full report, The State of Open Banking 2021, includes many more insights, visualised and broken down by organisation type. It also includes interviews with Open Banking innovators Nick Malham (Bank of Queensland), James Wyper (P&N Group), John Sanger (AFG) and Tony Carn (NextGen.Net) about how their organisations use Open Banking and what we can expect in the next 12 months.

Download the report and visuals here:

The numbers


  • 76% of Fintechs want to start using Open Banking in the next 12 months
  • The Affiliate model is most popular with fintechs – 36% would consider it for their business – yet the Representative model would only be considered by 16%
  • Fintechs are most interested in multibank aggregation (68%), Personal Finance Management (64%) and customer onboarding (60%)
  • More than two thirds of fintechs (68%) are planning to invest in CDR, but expected investments are generally lower as 40% indicate they’re going to invest up to $100,000 over the next 12 months.

Trusted advisers

  • Most trusted advisers are familiar with Open Banking (81%), up from 25% last year
  • Most trusted advisers either don’t know (44%), expect to spend nothing (13%) or up to $100,000 (19%). This is a clear contrast with 63% of trusted advisers saying they intend to use CDR data in the next 12 months.
  • Most popular Open Banking use cases for trusted advisers are Income & Expense verification (63%) and identity verification (56%)
  • 38% of trusted advisers think multibank aggregation and Personal Finance Management would be valuable use cases for their business

Banks & lenders

  • 89% of banks are familiar with Open Banking, only 44% of lenders
  • Banks and lenders place most value in Income & Expense verification (77%), credit scoring algorithms (62%) and Personal Finance Management (57%)
  • Unrestricted ADR is most popular (38%), especially with banks & lenders (53%) and technology providers (57%).
  • 66% of banks and lenders are planning to use CDR data within the next 12 months

About Frollo

Frollo is a purpose driven fintech and Australia’s first Open Banking intermediary. We help businesses use Open Banking data to deliver better customer outcomes. From reducing debt and increasing savings, to providing a better, more personalised customer experience.

Our modular, end-to-end Open Banking platform enables businesses to bring Open Banking powered use cases to market quickly by leveraging Australia’s most advanced and reliable CDR Gateway, with plug & play access to lending, personal finance management and customer onboarding solutions.

Trusted by clients like ANZ, Volt Bank, REA Group, P&N Bank, bcu and Bank of Queensland, Frollo is an Australian market leader in Open Banking.

For media enquiries
Piet van den Boer
0468 375783 

Upcoming Events

There are no upcoming events at this time.


Ep 2: Fintechs Acceleration of Growth Since COVID

Ep 1: The Evolution of Payments

Scaling Product Globally


Lee Hatton – Afterpay: FinTech Australia Podcast

Anthony Jones – Visa AUS/NZ

Tim Cameron – TransferWise