PYMNTS
NOVEMBER 13, 2020
Government-benefits fraud runs at about 10 percent even during normal times, but now that the pandemic has exponentially increased U.S. federal stimulus spending, the level of theft is on the rise, too. . “I think bad actors and fraudsters always follow the money,” Elizabeth Cronan , vice president of government relations at geolocation-based fraud prevention firm GeoGuard recently told PYMNTS. .
LyfeAccounting
NOVEMBER 13, 2020
?. Imagine you have a 20 dollar bill, and that money is earned by providing a service and as a result, the business has the freedom to spend it, invest it or save it. Regardless of what happens to that 20 dollars next, these transactions have started bookkeeping and accounting processes. But a lot of people are still confused when it comes to bookkeeping vs accounting.
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PYMNTS
NOVEMBER 13, 2020
Up until recently, QR might have been an acronym for: Quaint Relic. In the United States, anyway. The QR code is shorthand for the “quick response” barcode that was first designed in 1994, and which initially surfaced in Japan. QR codes had made some inroads here and there, and yet did not become the go-to repositories of data and information – scannable, naturally, across mobile devices – that some had predicted.
RitaKeller
NOVEMBER 13, 2020
“Respect is for those who deserve not for those who demand it.” – Paulo Coelho. In CPA management circles, we have talked and talked about how to deal with difficult clients. Here is a flashback post for this Friday that will give you some solutions. Upfront, be sure to train your clients. Of course, you know what the final solution is – help them find another accounting firm!
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PYMNTS
NOVEMBER 13, 2020
Target has canceled its subscription service, a foray into bulk discount purchasing launched seven years ago. Through the service, Target customers were able to automatically reorder items in bulk while earning a 5 percent discount, with the items shipped their homes. But Target recently discontinued the service, with a brief Q&A page notifying customers that they will receive items purchased before the November shutdown.
Withum
NOVEMBER 13, 2020
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
PYMNTS
NOVEMBER 13, 2020
Food now – and more to come. Maybe via drone. On Wall Street, the fine print and the filings can reveal much. To that end, DoorDash filed its IPO prospectus – officially known as an S-1 filing – with the Securities and Exchange Commission (SEC) on Friday (Nov. 13), which shows heady growth, continued but narrowing losses and a hyper-competitive business environment.
AccountingDepartment
NOVEMBER 13, 2020
As an update to our coverage on the Covid-19 updates affecting the business community, today we share the news that a judge ordered the Trump administration and SBA to provide additional details regarding the approximately $550+ billion in loans provided under the Paycheck Protection Program.
PYMNTS
NOVEMBER 13, 2020
Digital identity solutions have become increasingly widespread in recent years as alternatives or supplements to old-fashioned authentication methods like passwords. Multifactor authentication (MFA) and biometric scans are quickly becoming the norm in numerous fields, including online accounts for banks and other businesses. The telecommunications industry is but one of many sectors looking to more securely verify customers and avoid fraud, which remains a growing problem.
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.
PYMNTS
NOVEMBER 13, 2020
Silicon Valley’s Ripple , a blockchain payments startup, has filed a trademark with the U.S. Patent and Trademark Office (USPTO) for PayString, which will likely be a new offering, according to a report in CoinDesk on Friday (Nov. 13). Since its founding in 2012, Ripple has received funding totaling $293.8 million. Its frictionless blockchain payments platform enables users to send money around the world. .
PYMNTS
NOVEMBER 13, 2020
Walmart is extending most of its stores’ hours beginning Saturday (Nov. 14) – adding an hour or more of shopping time just in time for the holiday season. The retail giant disclosed via Twitter that it plans to keep most Walmart and Neighborhood Market locations open from 7 a.m. to 11 p.m. local time. “This will give customers more time to shop and help us disperse traffic throughout the day,” Walmart wrote in a tweet.
PYMNTS
NOVEMBER 13, 2020
The U.S. Securities and Exchange Commission ( SEC ) on Friday (Nov. 13) civilly charged former Wells Fargo CEO John Stumpf and Carrie Tolstedt, ex-head of Wells Fargo’s Community Bank, with allegedly misleading investors in connection with the bank’s unauthorized accounts scandal. Stumpf agreed to settle the charges by paying a $2.5 million penalty, but neither admitted nor denied wrongdoing, according to an SEC press release.
PYMNTS
NOVEMBER 13, 2020
With nearly $90 million in new funding landing at B2B FinTechs this week, investors showed off a diverse range of focuses, from procure-to-pay to small business payments. But it was a Banking-as-a-Service company that led the roundup this time, with one startup looking to expand into Credit Cards-as-a-Service with its latest investment. Paid. The $2.8 million in new funding for U.K.
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
PYMNTS
NOVEMBER 13, 2020
As government regulators in China increase tech industry oversight, Tencent said it will comply with new laws intended to curb antitrust activities and tighten FinTech acceleration, according to a Bloomberg report on Friday (Nov. 13), Beijing’s proposed new laws had a negative effect on the market value of the country’s tech leaders like Tencent and Alibaba , dropping some $290 million in two days.
PYMNTS
NOVEMBER 13, 2020
Google is integrating its Expedition 360 virtual reality (VR) tools to Google Arts & Culture app to allow teachers to keep offering students digital adventures as remote learning continues. Google announced on Friday (Nov. 13) that the Expeditions app will not be supported anymore and will be removed from the App Store and Google Play after June 30, 2021.
PYMNTS
NOVEMBER 13, 2020
Star Indonesian startup Gojek is moving closer to eventual profitability after staunching a tide of ink amid losses on core services like delivery and ride-hailing, according to a new report. Gojek saw annualized gross transactions cross the $12 billion mark at the end of September, a 10 percent jump over last year, the company’s two co-CEOs, Andre Soelistyo and Kevin Aluwi, told Bloomberg News in an interview.
PYMNTS
NOVEMBER 13, 2020
Managing inventory, B2B payments and a plethora of food and beverage vendors can be a headache for any kind of restaurant, bar or retailer. But in the alcohol beverage arena, unique regulations — many of which date back to the era of prohibition — have added an extra layer of complexity to the supply chain. Retailers that sell alcohol must be able to understand exactly which products they have in stock, and which products are generating the most revenue for the business.
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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.
PYMNTS
NOVEMBER 13, 2020
Given that 90 percent of new car purchases and half of used car purchases are financed, it’s no surprise that the lifestyle changes and digital shift brought on by the pandemic have disrupted auto loans, that age-old corner of the vehicle industry. Whether a car loan comes through a dealer, bank or manufacturer, new J.D. Power research shows that the number of customers doing their credit applications online has kicked into high gear.
PYMNTS
NOVEMBER 13, 2020
As real-time payments make their way to ubiquity in markets around the globe, more small- to medium-sized businesses ( SMBs ) are exploring how instant transactions may be able to add value to their own operations. In Canada , one of the most popular means of instant payments is the Interac eTransfer service, which facilitates real-time movement of funds from one account to another.
PYMNTS
NOVEMBER 13, 2020
Ozon , the Russian online retailer, is upping the ante and boosting its planned IPO by half, as it pushes closer to making its debut as a public company. With eCommerce surging amid the coronavirus pandemic, Russia’s answer to Amazon is now weighing plans for a $750 million IPO in the U.S. to raise money for expansion back home, Reuters reported , citing three financial market sources.
PYMNTS
NOVEMBER 13, 2020
In today’s top digital-first banking news, FISPAN has joined Mastercard’s Start Path accelerator program, while Wells Fargo & Co is looking to sell its private-label credit card and point-of-sale (POS) financing arm. Plus, European Central Bank (ECB) President Christine Lagarde said the bank could make its own digital currency within a few years.
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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.
PYMNTS
NOVEMBER 13, 2020
Small business eCommerce platform Shopify’s new marketplace connects businesses for sale with entrepreneurs and offers a feature to let people Gift A Business to an aspiring merchant, according to a report in Small Business Trends on Friday (Nov. 13). Gift A Business encourages people to buy an established eCommerce shop as a gift for small-business-minded friends or family.
PYMNTS
NOVEMBER 13, 2020
Consumers are flocking to shopping areas in India’s major cities and towns in advance of Diwali, India's festival of lights, this Saturday (Nov. 14), boosting optimism among business owners while also stoking concerns over the potential for a rise in coronavirus cases, reported AP News. India’s 70 million business owners expect to bring in $8 million in sales over the festival season, which also includes the Dussehra and Durga Puja celebrations.
PYMNTS
NOVEMBER 13, 2020
In today’s top news, people are still stocking their savings accounts despite low interest rates, and Instacart could file an IPO in early 2021. Plus, Amazon is expanding its in-garage delivery to 4,000 cities. People Keep Saving Despite Low Interest Rates. A Federal Reserve report indicated that commercial bank deposits were up roughly $13.2 trillion at the start of the year, hitting $15.9 trillion, despite a drop in interest rates on deposit accounts.
PYMNTS
NOVEMBER 13, 2020
Following a cyberattack that exposed patients’ mental health records last month, Finland is moving ahead with legislation that would let people change their personal identity codes in certain instances, according to an Associated Press (AP) report. Under the proposed new law, citizens would be able to change their ID number if a data breach would possibly expose them to identity theft.
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PYMNTS
NOVEMBER 13, 2020
We know the pandemic is very bad. Life goes on regardless, and some businesses are actually doing okay in the year of COVID. Subscription brands, for example, are looking good. “News publications are among those that have been enjoying robust international growth due in no small part to their digital subscription services,” according to PYMNTS’ latest Cross-Border Merchant Friction Index , done in partnership with FastSpring.
PYMNTS
NOVEMBER 13, 2020
Peer-to-peer car-sharing platform Getaround Inc. has secured a $25 million venture loan facility from Horizon Technology Finance Corp., a specialty finance company that provides secured loans to venture capital-backed companies. . "Getaround is changing the way people think about renting and sharing cars through their seamless and easy-to-use technology platform," Horizon President Gerald Michaud said in a press release announcing the deal.
PYMNTS
NOVEMBER 13, 2020
A department store reported a profitable Q3 this week. Really. The beleaguered sector, which has produced bankruptcies more than success stories, was redeemed by Dillard’s as it rode impressive cost controls and inventory management to post a profit. According to a statement from Dillard's CEO William T. Dillard II, the 285-store chain achieved a 249-basis-point gross margin improvement for Q3, with ending inventory down 22 percent.
PYMNTS
NOVEMBER 13, 2020
In a sign of a continued rise in gaming amid the pandemic, DraftKings Inc. reported on Friday (Nov. 13) as part of its Q3 results that Monthly Unique Payers (“MUPs”) for its business-to-consumer (B2C) operation surged 64 percent in contrast to Q3 2019. DraftKings reported that over a million monthly unique paying customers engaged with the firm each month during Q3 on average.
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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.
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