Wed.Nov 11, 2020

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Bitcoin Daily: Bitcoin ATM Installations Jump By 85 Pct; Argentinian Lawmaker To Introduce Crypto Bill

PYMNTS

The count of bitcoin ATMs has jumped this year, rising by 85 percent to just under 11,800, CoinDesk reported. The border-free network of bitcoin allows for money to be easily moved in any amount internationally, according to the outlet, which noted that the rise in bitcoin ATMs shows that the digital currency is becoming more and more popular as a method of payment.

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New Coding Changes May Give Physicians a Raise

Katz,Sapper&Miller

Every year there are changes to current procedural terminology (CPT) coding that are generally minor text revisions, clarifications, code additions, and code deletions. While important for accurate coding, these annual changes don’t typically have a significant impact on provider compensation.

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Visa Unveils FinTech Partnership Program In Europe

PYMNTS

Visa is rolling out a new initiative aimed at connecting European financial institutions and merchants with cutting-edge digital payments services. Fintech Partner Connect will “support new ways for businesses and consumers to seamlessly and securely pay, get paid, send money and more,” a spokesperson for the credit card and financial services giant said in an email announcing the new program on Visa on Wednesday (Nov. 11).

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Using co-creating to strengthen your CPA advisory relationships

ThomsonReuters

As a leader in your firm, you are persistently looking for the key to strengthen your CPA advisory relationships and build those long-term clients. However, advisory services can often be met with certain resistance and fears. In this episode of Pulse of Practice “A Conversation with Angie Grissom”, Paul Miller, CPA from Business by Design , and I are joined by Angie Grissom, Owner and Chief Relationship Officer of The Rainmaker Companies.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Cloud Cybersecurity Platform SentinelOne Nets $267M; Now Valued At Over $3B

PYMNTS

Cloud-based cybersecurity platform SentinelOne has raised $267 million in a Series F funding round, the company announced in a press release. The new funding, led by Tiger Global Management, brings SentinelOne’s valuation to over $3 billion. Other investors included Sequoia Capital Global Equities and existing investors Insight Partners and Third Point Ventures, the release stated.

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KSM Presents FreightWaves 2021 FreightTech 25 Award Winners at Virtual Conference

Katz,Sapper&Miller

Katz, Sapper & Miller is pleased to once again participate as the independent accounting firm in managing the voting process and reporting the results for FreightWaves Research Institute’s prestigious FreightTech 100 Award. The award recognizes the most innovative and disruptive companies in freight and highlights the key organizations which have made significant technological or economic advancements to impact the transportation space.

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End of the Year Accounting Prep

SingleTrackAccounting

We are nearing the end of the year (can you believe it?) and 2020 has tested us. Let’s not make it any harder on ourselves by procrastinating our accounting. Even the most organized business owner can sometimes feel the crunch when approaching tax deadlines. We are here to make your life a little easier in the upcoming months. No one likes to cut a powder day short because they have a few hours left to file their 1099s.

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Back Office Is Front And Center In Optimization Wave

PYMNTS

How big of a problem is manual data entry and processing? Too big. “Fifty-one percent of participants in a recent study identified manual data entry and inefficient procedures as the biggest pain point they faced, with manual invoice routing, lost or missing invoices and invoice-to-payment matching taking second, third and fourth places at 37 percent, 33 percent and 31 percent, respectively,’” according to the new Back-Office Optimization Playbook done in collaboration with Coupa and TransferMat

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Financial Reporting in the COVID-19 Era for Accounting Professionals

ThomsonReuters

Financial Reporting in the COVID-19 Era: Technology Can Help Accounting Professionals Ask—and Answer—the Right Questions. To address the many accounting and financial reporting challenges triggered by COVID-19, accounting professionals must know what to watch for when preparing financial disclosure statements this year—and how technology can guide and empower them in the process.

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Chipotle Opening Digital-Only Kitchen Near West Point Academy

PYMNTS

Chipotle Mexican Grill is capitalizing on the surge in online demand and opening its first digital-only restaurant in Highland Falls, New York, just outside the gates of West Point military academy. “The Digital Kitchen incorporates innovative features that will complement our rapidly growing digital business, while delivering a convenient and frictionless experience for our guests,” Curt Garner , chief technology officer at Chipotle, said in a statement on Wednesday (Nov. 11).

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Planning Your Restaurant's Path to Profitability

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.

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IRS Intends to Greenlight Full State Income Tax Deduction for Pass-Throughs

Withum

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Park Place Payments, NOW Corp Team For SMB Payments

PYMNTS

Park Place Payments , which provides payment processing to companies, and Atlanta-based NOW® Corp unveiled a collaboration that is meant to change how small and medium-sized businesses (SMBs) take payments, according to a Wednesday (Nov. 11) announcement. "The need for small and mid-sized businesses to get paid faster has never been greater," NOW® Corp CEO and President Lara Hodgson said in the announcement.

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Hiring & Managing People

RitaKeller

“Train people well enough so they can leave, treat them well enough so they don’t want to.” – Richard Branson. I certainly enjoyed being involved in the CPAFMA Accelerator Sessions this week. It was such an honor to be on the agenda both days with some very awesome people. The Accelerator sessions caused me to think about my own list of current issues and trends.

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Whirlpool Corporation Rolls Out Swash Laundry Detergent On Amazon

PYMNTS

Kitchen and laundry appliance company Whirlpool Corporation is rolling out its Swash liquid laundry detergent, which is now available exclusively through Amazon. The rollout of the product represents the firm’s entry into the liquid laundry detergent space, according to a Wednesday (Nov. 11) announcement. Swash dispenses the detergent for consumers with its “Precision Pour Cap.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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IRS Intends to Greenlight Full State Tax Deduction for Pass-Throughs

Withum

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Chinese Big Tech Value Plummets $280B Amid Regulatory Issues

PYMNTS

Big technology firms in China are suffering as regulatory issues continue, triggering falling share prices, according to a CNBC report on Wednesday (Nov. 11). Hong Kong shares of Alibaba dropped 9.8 percent; Tencent declined 7.39 percent; Smartphone maker Xiaomi dropped 8.18 percent; on-demand delivery services firm Meituan Dianping fell 9.67 percent; and eCommerce giant JD.com plummeted 9.2 percent.

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JPMorgan, Other Top Banks Brace For Defaults Amid Troubled Loans

PYMNTS

The number of troubled loans sitting on the books of the top U.S. banks remains high despite significant improvement over the past few months, a new report finds. A total of $90 billion in loans to businesses and individuals remained in forbearance, or about 5 percent of such loans, the Financial Times reports, citing regulatory filings by the four top lenders.

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EDPB Recommends Steps For Data Exporters To Ensure GDPR Compliance 

PYMNTS

The European Data Protection Board (EDPB) adopted recommendations to assist data exporters with evaluating countries to ensure that they are adhering to the bloc’s level of protection under the EU General Data Protection Regulation ( GDPR ) and finding further measures as needed. "Supervisory authorities will continue exercising their mandate to monitor the application of the GDPR and enforce it,” the EDPB said in its recommendations.

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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Amazon, Walmart Benefit As More Than 1 Million Food Stamp Shoppers Buy Online

PYMNTS

As online shopping becomes the norm, Amazon is courting food stamp shoppers, according to a report by Bloomberg. The eCommerce giant, along with Walmart and Wakefern Food Corp. ’s ShopRite stores, participates in a pilot program that lets EBT card users buy groceries online for delivery or pickup, Bloomberg reported. When Congress began allowing more food assistance due to the pandemic, the U.S.

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Today In Payments Around The World: LinkAja Closes Grab-Led $100M Series B; Kuda Lands $10M For Mobile-First Services

PYMNTS

In today’s top payments news around the world, Indonesian FinTech LinkAja closed a Series B funding round headed up by Grab, while Nigeria-based Kuda landed $10 million after a funding round. Plus, Canadian payment services company Interac is collaborating with Walmart Canada to expand debit card payment methods in store and online. Indonesian FinTech LinkAja Closes $100M Series B Led By Singapore Super App Grab.

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Paytronix Launches Subscription-Building Tool For Small Businesses

PYMNTS

Paytronix has launched Paytronix Subscriptions, a subscription-building product that will allow any restaurant or convenience store to set up and manage a subscription program for its customers, the company announced on Wednesday (Nov. 11). Paytronix Subscriptions will be a key component of its customer loyalty platform. The company said the product will help lower barriers to entry for smaller businesses to establish their own subscription programs.

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MercadoLibre Banking License Hints At New Arrow In Quiver Vs. Amazon

PYMNTS

It’s conventional wisdom that Amazon , eventually, gets its hands into everything, everywhere. And for players in eCommerce — especially larger ones in markets that are booming — the Amazon threat is real and ever present. It might make sense, then, that as companies craft ecosystems, they want to keep as much as they can in house as possible, including sellers and buyers on their platforms.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Amazon Teams With Barclaycard Germany On Installment Financing

PYMNTS

Barclaycard Germany is teaming up with Amazon to offer a new installment financing plan to customers of the online retail giant. The German credit card operator, a branch of Barclays Bank Ireland PL, said Wednesday a new partnership with Amazon.de to provide financing for purchases above 100 euros (or roughly $117.57) made through the online retailer’s platform.

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Today In Digital-First Banking: MercadoLibre Gets License From Brazil, Alacriti Collaborates With Glia On Customer Service

PYMNTS

In today’s top digital-first banking news, MercadoLibre has been granted a license from Brazil’s central bank, while payments FinTech Alacriti has teamed with Glia on new customer service options for payments needs. Plus, payment startup SumUp has been granted a new electronic money license from Ireland’s central bank. MercadoLibre Granted License From Brazil's Central Bank.

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Purple's D2C Revenue Jumps 97.5 Pct

PYMNTS

Digitally native sleep brand Purple Innovation, Inc. reported as part of its Q3 results that its direct-to-consumer (D2C) revenue surged 97.5 percent and its wholesale revenue rose 6.9 percent compared to Q3 2019, according to an announcement. "The investments we made earlier this year to expand our manufacturing capacity helped support strong year-over-year growth in our direct-to-consumer mattress business, as well as a resurgence in our wholesale channel as our retail partners experienced imp

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Deutsche Bank Debuts Cash Management In Australia

PYMNTS

Deutsche Bank has opened a new cash management business in Australia, which will add to its global portfolio, according to a press release. Deutsche Bank now operates a global network of cash management services in 35 locations with 14 in the Asia Pacific, the release stated. There were 14 new jobs added to support the new Australia location, including John Godlonton of Deutsche Bank Singapore, who will act as the head of cash product for Australia.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Kount Debuts New Bot Detection Solution

PYMNTS

Kount , which works in fraud prevention and identity trust, has rolled out its new Event-Based Bot Detection solution, which will provide a more comprehensive level of security for eCommerce, according to a press release emailed to PYMNTS. The new program will work to protect from fraud at all stages of the customer journey from account creation to login, coupon or point redemption and on through to payment.

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Lemonade Posts Narrowed Q3 Loss, Issues Outlook Above Street Estimates

PYMNTS

Lemonade reported improved third-quarter earnings on Wednesday (Nov. 11), despite a dip in revenue that it attributed in part to an accounting change. For the quarter ended Sept. 30, 2020, Lemonade reported a net loss of $30.9 million, or $0.57 a share, compared with a net loss of $31.1 million, or $2.78 a share, for the same quarter in 2019. Adjusted EBITDA for the 2020 quarter was a loss of $27.6 million, compared with a loss of $30.4 million for the year-ago period.

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Bright Spots In Retail, eCommerce And International Banking 

PYMNTS

Simon Properties keeps defying the odds, registering a pandemic-depleted yet profitable Q3. The mall and outlet center real estate investment trust posted a profit even without filling all of its space or collecting all of its rents. In cross-border payments , a number of features can go a long way toward helping digital product merchants bolster their conversion rates in other countries.

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Lyft And Uber Ramp Up Competition As Ridesharing Rebounds

PYMNTS

Having survived the worst of COVID-19’s economic upheaval so far, top U.S. ridesharing companies Uber and Lyft have shifted from survival mode to being competitive rivals once again. Both are rolling out new initiatives aimed at swiping customers from each other. The two San Francisco-based transportation companies — whose headquarters are only about a mile apart — both reported sharply improved earnings in the past week.

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.