PYMNTS

NOVEMBER 20, 2020

African FinTech Chipper Cash has landed a whale of an investor. Chipper CEO Ham Serunjogi confirmed on Twitter the startup, which got its initial foothold in the market as a peer-to-peer (P2P) payments service, has just wrapped up a $30 million Series B round of venture capital. And among the investors was none other than multibillionaire Amazon Founder and CEO Jeff Bezos, who participated through Bezos Expeditions, his personal venture capital fund.

Start-ups 132

Start-ups Retail 132

Katz,Sapper&Miller

NOVEMBER 20, 2020

This week, the IRS issued Revenue Ruling 2020-27, which dictates the timing of the non-deductible nature of eligible PPP loan expenses. Many had hoped that by delaying the loan forgiveness application – and, as a result, PPP loan forgiveness – until 2021, calendar-year taxpayers could shift the non-deductible event forward a year. We now have the IRS’ position on this issue: If there is a reasonable expectation of forgiveness, borrowers are out of luck.

98

98

PYMNTS

NOVEMBER 20, 2020

Credit unions (CUs) have witnessed plenty of positive developments in recent years. The space has experienced robust expansion, with one report noting that more than 17 million consumers around the globe joined CUs in 2019. Membership stood at a record 291 million across 118 countries last year, and research shows that these figures are poised to stay steady or grow.

Technology 101

Technology Indiana Michigan Start-ups 101

RitaKeller

NOVEMBER 20, 2020

“Don’t let the noise of others’ opinions drown out your own inner voice.” – Steve Jobs. It’s time for some Friday ramblings. Another week has passed by so quickly and things are changing at that same quick base. I enjoyed my time with PWB CPAs & Advisors in Minnesota this week. Of course, I wasn’t there in person but speaking to their entire team (via Teams) about CPA firm communication was still a joy for me.

Minnesota 40

Minnesota cpa firm cpas CPA 40

Advertiser: Paycor

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PYMNTS

NOVEMBER 20, 2020

Investors just delivered another $90 million into the coffers of Loadsmart , a digital freight startup, the company announced Friday (Nov. 20). BlackRock led the Series C funding round, which also included key industry investors like international shipping giant Maersk, which has been an investor since Loadsmart’s Series A round, and TFI International Inc.

Transportation 101

Transportation Legal Technology 101

Withum

NOVEMBER 20, 2020

59

59

KROST

NOVEMBER 20, 2020

A lot of people lost their jobs in 2020 when businesses were forced to shut down or had to furlough their employees due to COVID. To help Californians get back to work, California’s governor signed a new tax bill to give tax breaks to small businesses that increased hiring during the second half of 2020. Senate Bill 1447 was enacted on September 9, 2020, to offer new credit called Small Business Hiring Tax Credit to qualified California small business employers who can use it to offset state inc

California 82

California Tax Real Estate income tax 82

PYMNTS

NOVEMBER 20, 2020

It’s been a long slog since April 2020 when a harmonic convergence of bad financial news and a worsening global health crisis formed the “crater” of the pandemic. April was also the month that financial institutions (FIs) and Big Tech firms alike learned that mobile banking had become a much bigger, more important channel, virtually overnight. It took crashing the websites of a string of major banks and credit unions for the sector to grasp what happened.

Account 94

Account accountant accounted 94

ThomsonReuters

NOVEMBER 20, 2020

While President Donald Trump has filed numerous lawsuits challenging the election results, we will examine how a Joe Biden presidency could have a significant impact on employers. This is particularly true in the area of wage and hour, worker classification, and wage theft. Wage Theft. Biden noted on his official website as a campaign platform item that wage theft is a serious issue he intends to address.

payroll 105

payroll payroll tax Tax Legal 105

PYMNTS

NOVEMBER 20, 2020

If 2020 is the year that telemedicine went prime time, it’s no shock to the system that prescription pharmaceuticals are taking a similar, digital direct-to-consumer path. And as the prescription drug sector undergoes its own digital shift, PYMNTS’ November Provider Ranking of Prescription Apps is the ideal remedy for those who watch the movers and shakers in the category for telltale signs of the rising Rx super-apps of the day after tomorrow.

Pharmaceutical 91

Pharmaceutical Healthcare 91

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

ThomsonReuters

NOVEMBER 20, 2020

While President Donald Trump has filed numerous lawsuits challenging the election results, we will examine how a Joe Biden presidency could have a significant impact on employers. This is particularly true in the area of wage and hour, worker classification, and wage theft. Wage Theft. Biden noted on his official website as a campaign platform item that wage theft is a serious issue he intends to address.

payroll 52

payroll payroll tax Tax Legal 52

PYMNTS

NOVEMBER 20, 2020

Physical banking was already on the decline before the COVID-19 pandemic put much of the physical economy into the deep freeze for a year and left customers scrambling to digitize their day-to-day lives as much as possible and as fast as possible. Consumers were already shifting an increasing number of their account management activities to online sites and mobile apps.

Massachusetts 88

Massachusetts accounting and finance Construction Finance 88

PYMNTS

NOVEMBER 20, 2020

The name of the game is digitization for organizations across all industries, thanks to the "new normal" of working from home amid the pandemic. But what does the process of digital adoption actually look like from the vantage point of the CFO? For Andy Brown , CFO at education technology company Chegg , there was a plethora of opportunities to embrace by collaborating with third-party FinTech partners.

NetSuite 87

NetSuite Education auditor accounting and finance 87

PYMNTS

NOVEMBER 20, 2020

The digital shift has been well-documented in many categories but arguably none have been as dramatic as the consumer packaged goods (CPG) category. Research shows it has gone from 3 percent of total sales before the pandemic to 15 percent at its current rate. It’s no wonder that some of the world’s leading CPG companies have a keen interest in the channel, for now and the future.

Sales 85

Sales Retail Start-ups Legal 85

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

Technology

PYMNTS

NOVEMBER 20, 2020

Winter is around the corner, bringing colder temperatures and prompting many restaurants to question whether their operations can survive the season. Many quick-service restaurants (QSRs) have taken their dine-in services outdoors since the pandemic began to better adhere to social distancing protocols and capacity limits on indoor seating. As the warm weather fades, however, they are now being forced to get creative — from providing electric heaters to setting up geodesic domes — to keep custom

Sales 84

Sales Technology 84

PYMNTS

NOVEMBER 20, 2020

The holidays are here. So, too, is a spike in COVID-19 cases. With a resurgence in public health concerns, it makes sense that commerce would increasingly skew digital, with the comfort of … well, touching as little as possible. Consumers want to pay by mobile means, headed into what is arguably the traditional “make or break” period for retailers that lasts from Thanksgiving through the end of the year.

Retail 81

Retail Sales 81

PYMNTS

NOVEMBER 20, 2020

Companies with global workforces need to overcome numerous challenges to quickly and easily pay their employees. Providing prompt compensation is critical because workers’ loyalty could be damaged if frictions affect their paychecks. Employees’ payment preferences and access to financial tools can vary, however. . Firms recognize that not all employees can receive payments into bank accounts, and these companies must therefore provide secure, convenient alternatives.

payroll 78

payroll accounts payable Account accountant 78

PYMNTS

NOVEMBER 20, 2020

A growing wave of coronavirus cases and related restrictions could trigger a decline in first-quarter gross domestic product (GDP), J.P. Morgan economists said in a new forecast, CNBC reported Friday (Nov. 20). "This winter will be grim, and we believe the economy will contract again in 1Q," the economists wrote. “We think the trends in the labor market should roughly follow what we expect for consumer spending — job growth should weaken noticeably around the turn of the year as the virus weighs

Start-ups 78

Start-ups 78

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Technology

PYMNTS

NOVEMBER 20, 2020

Today in B2B payments, Wells Fargo rolls out its virtual card services for B2B payments, while PayPal Ventures makes a B2B payments investment. Plus, Simfoni lands on Vroozi's procure-to-pay platform, Kyrbia collaborates with an Italian bank on supply chain financing, and the EU's digital chief will discuss rules with tech giants. Wells Fargo Debuts Digital Supplier Payment Tool.

B2B 78

B2B Procure to Pay Platform accounting and finance Finance 78

PYMNTS

NOVEMBER 20, 2020

The airline industry is once again taking a beating as accelerating coronavirus cases prompt the Centers for Disease Control (CDC) to ask that people stay home for Thanksgiving, leading to a drop in reservations. "Certainly with the increase in infection rates really throughout the country we've seen a dampening of demand," American Airlines President Robert Isom said during the Skift Aviation Forum , per a Friday (Nov. 20) CNBC report. .

Hospitality 73

Hospitality New York Start-ups 73

PYMNTS

NOVEMBER 20, 2020

There are about 328 million people in the U.S., so it might come as a surprise that these same people belong to 3.8 billion loyalty programs, an average of 14.8 per person. And it probably won’t come as a surprise that they only actively use about half of them at 6.7 per person. One of the reasons for the high number of participants in loyalty programs and the relatively low usage rate is the rewards available.

Retail 72

Retail 72

PYMNTS

NOVEMBER 20, 2020

Loyalty and rewards programs have long been a common way for banks to persuade consumers to sign up for and use their credit and debit cards, but a surprisingly few number of cardholders say they are offered the types of rewards programs they really want. Only one in four credit card holders and one in 10 debit card holders say their banks provide that option.

Account 70

Account accountant accounted Maine 70

Advertiser: Paycor

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PYMNTS

NOVEMBER 20, 2020

Silicon Valley global eCommerce unicorn Wish has filed for a $1 billion initial public offering (IPO) on Nasdaq, according to a U.S. Securities and Exchange (SEC) filing on Friday (Nov. 20). Goldman Sachs, J.P. Morgan Chase and Bank of America are leading the IPO for Wish’s parent company, ContextLogic. Additional participants include Citigroup, Deutsche Bank, UBS Group, RBC Capital Markets and Credit Suisse Group.

Technology 63

Technology Sales Retail 63

PYMNTS

NOVEMBER 20, 2020

Amazon has agreed to postpone its Black Friday sales in France if officials will allow the reopening of non-essential businesses by Nov. 27, Bloomberg reported. Other retailers, such as Galeries Lafayette and Showroomprivé, also agreed to the delay, which pushes the sales holiday back a week to Dec. 4. “Today, as many other French retailers and following the government’s recommendation, we decided to postpone Black Friday if this enables retailers to reopen before Dec. 1,” Frederic Duval, gene

Sales 63

Sales Retail Finance 63

PYMNTS

NOVEMBER 20, 2020

The world is flattening for businesses of all sizes that now find it easier than ever to expand across borders. Whether that means establishing subsidiaries abroad, acquiring customers in new geographic markets, or stepping into a new space via mergers and acquisitions (M&A), even small companies are often global ones. While expanding internationally is the easy part, the challenge often comes in the back-office financials like invoicing , cross-border payments, accounting and reconciliation

accounting and finance 61

accounting and finance Technology audit Finance 61

PYMNTS

NOVEMBER 20, 2020

Wearable device sales have shot up at least 30 percent this year as consumers looked to technology to help them monitor their health during the ongoing global pandemic, according to a top Samsung executive. “Although a majority of consumers plan to spend less this year due to the pandemic, wearable device sales have grown by 30 percent or more compared to last year,” said Taejong Jay Yang , senior vice president for Samsung Electronics , in a CNBC interview on Friday (Nov. 20).

Sales 60

Sales Healthcare Technology Account 60

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Finance

PYMNTS

NOVEMBER 20, 2020

The cost of the traditional Thanksgiving centerpiece, the turkey, is at its lowest since 2010, as retailers try to push product for another holiday that’s falling victim to the coronavirus pandemic. The CDC released a warning Thursday (Nov. 19) urging people not to travel for Thanksgiving, as officials worry the holiday could proliferate the second wave of the coronavirus.

Retail 57

Retail 57

PYMNTS

NOVEMBER 20, 2020

The Competition Commission of India (CCI) approved a $3.4 billion deal between the country’s two retail giants — Reliance Retail and Future Group — despite protests by Amazon. Under the terms of the deal, Reliance will acquire Future’s retail, wholesale, logistics, and warehouse businesses, according to a report in Mint on Friday (Nov. 20). The CCI has concluded that the deal will not negatively impact competition.

Retail 57

Retail 57

PYMNTS

NOVEMBER 20, 2020

In today’s top news, Citi partners with Mastercard to power its Google Pay Plex accounts, and PayPal upgraded Xoom’s money transfer services. Plus, the CFO of Walgreens doesn’t feel threatened by Amazon’s foray into the pharmacy industry. Citi Partners With Mastercard For Google Pay Plex Accounts. Citi and Mastercard are teaming up as network partners for the digital checking and savings account Citi Plex on Google Pay, available for both Android and iOS.

Pharmaceutical 56

Pharmaceutical Account accountant accounted 56

PYMNTS

NOVEMBER 20, 2020

What’s next for Ant Group – and by extension, Jack Ma? . In China, the battle of the regulators versus FinTech behemoth has seemingly been joined. . To that end, Howard Yu , LEGO Professor of Management and Innovation and director of IMD’s signature program, Advanced Management Program (AMP), told Karen Webster that a restructuring may be on the horizon. .

B2B 94

B2B Sales Account accountant 94

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"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.

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