Pulse Alert – News Pulse for August 23, 2019

A daily download of SME, startup, fintech and tax news from around Australia.

Zip doubles transaction volumes, new customers surge

Retail financing company Zip Co has launched a new payments product for small businesses and said it would almost double customer numbers in 2020 as it seeks to “embed ourselves into every layer of the payments ecosystem”.

In the past year, Zip doubled transaction volumes, revenue and the size of its loan book, after lifting customer numbers by 80 per cent. It said it was just at the beginning of its growth journey, as it deepened commercial partnerships and invested in its customer app, which has been downloaded 1 million times since its launch last year.

‘It’s required courage’: Tim Reed on growing MYOB

Small businesses are struggling to get their foot in the door to land their first big corporate clients, according to the man tipped to be the next leader of the Business Council of Australia.

“There’s more I think for larger businesses in Australia to [do to] be open to working with startups,” outgoing chief executive of MYOB Tim Reed said.

ACCC continues to focus on supporting small business | ACCC

Unfair contract terms are a key focus in the ACCCAustralian Competition and Consumer Commission The ACCC is Australia's competition regulator and national consumer law champion.’s latest Small Business in Focus report.

The twice yearly report, which provides an update on key developments in the small business, franchising, and agriculture sectors, reports on the ACCCAustralian Competition and Consumer Commission The ACCC is Australia's competition regulator and national consumer law champion.’s continued actions to protect small businesses against terms in a standard form contract that may be considered unfair.

Unfair contract terms in small business sector under scrutiny by ACCC

Australia’s competition regulator the ACCCAustralian Competition and Consumer Commission The ACCC is Australia's competition regulator and national consumer law champion. says unfair contract terms are a big focus as it takes action and moves to ensure small businesses are not at a disadvantage because of one-sided ‘take it or leave it’ contracts.

The Australian Competition and Consumer Commission says it continues its focus on supporting small businesses in its Small Business in Focus report released on Thursday which provides an update on key developments in the small business, franchising, and agriculture sectors,

Experian acquires Australian fintech startup Look Who’s Charging

The Australian and New Zealand arm of global credit bureau services provider Experian has acquired Australian fintech startup Look Who’s Charging, in its sixth major APAC investment since 2017.

The acquisition will combine Experian’s global open data solutions with Look Who’s Charging enrichment capabilities to create an open data platform in Australia, following the recent open banking legislation.

‘Nudges and warnings’: ATO steps up super payments crackdown

The Australian Taxation Office (ATO Australian Taxation Office) will send more proactive “nudges and warnings” to employers who aren’t complying with their Superannuation Guarantee obligations under an enforcement technique enabled by the increasing availability of taxpayer data.

Detailed in a speech to the  Association of Superannuation Funds of Australia (ASFA)’s Policy Roadshow , ATO Australian Taxation Office deputy commissioner James O’Halloran said efforts to implement the program are already underway.

$50K on offer for start-ups in the 2019 Westpac Innovation Challenge

The Westpac Innovation Challenge has launched today, giving start-ups, scale-ups and entrepreneurs the chance to win $50,000 and professional support to grow their business.

The Challenge asks entrants to create a solution using data to solve a business problem specific to one of five different sectors: micro business, energy, insurance, aged care or government.

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