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The Australian Securities and Investments Commission has hit fintech Humm Group with an interim stop order barring it from issuing buy now, pay later products to new customers.
Payments processing company EML has hit back at a shareholder class action over its alleged failure to disclose Ireland central bank’s concerns about its anti-money laundering and counter terrorism financing compliance, claiming swathes of the case are liable to be struck out.
Buy now, pay later services will soon be regulated as credit products under proposed changes to the law flagged by the federal government amid concerns about financial risks the service poses to consumers.
IP Australia has rejected an application by US technology company Block to patent a mobile payment method, saying it does not describe a manner of manufacture -- the threshold requirement tripping up many claimed computer-implemented inventions.