article thumbnail

Report: Using Digital AP To Build Faster Subcontractor Payments Flows

PYMNTS

Accounts payable (AP) teams are now taking a fresh look at the potential of tools such as virtual cards to ease their transaction frictions. The digital methods suit remote purchasing environments and offer security features that can make it difficult for fraudsters to use stolen card details.

article thumbnail

Troubled NMC Health Suspected Of Faking Drug Orders

PYMNTS

Today’s Financial Times article states: “NMC allegedly used fake documents to simulate orders for pharmaceutical supplies from Neopharma, and its joint venture Nexgen, to obtain credit from banks and factoring agents that financed the fabricated sales.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Corporate Fraud Reveals The Breadth Of Scammer Tactics

PYMNTS

The Federal Trade Commission recently filed a complaint against Yellowstone Capital, Fundry and their officers, alleging the merchant cash advance companies had been withdrawing funds from small business bank accounts. 300,000 was stolen by an accountant in Australia , according to ABC.net.au

article thumbnail

Cannabis Logistics Finds Opportunity In Uncharted Territory: WAYV

PYMNTS

Take, for example, markets like the food and beverage, pharmaceutical and medical supplies space. With legal cannabis a fast-growing market, the industry has a unique opportunity to innovate and adopt technologies from scratch — adopting best practices from the get-go, rather than trying to fix another industry’s strategy.

Legal 49
article thumbnail

Startup Roundup: New Innovations In Bloom

PYMNTS

NetSuite has its own PO creation capability, but the integration enables users to streamline their complete accounts payable (AP) workflow. CMO Rob Israch said the multi-entity capability is what differentiates Tipalti, enabling customers to run their entire payables operations across borders and brands from a single touchpoint.

article thumbnail

The Multibillion-Dollar Problem Of B2B Payments Friction

PYMNTS

Every single survey respondent in the telecoms, oil & gas, travel & leisure, pharmaceuticals & biotech and personal goods industries said they accidentally misdirected or duplicated a supplier payment. Nearly half (49 percent) of survey respondents overall said they made this kind of supplier payment mistake “on occasion.”.

B2B 47