May, 2016

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Forter Tops Gartner Cool Vendor List For Innovation In Fraud

PYMNTS

It’s no secret that, as fraudsters continue to evolve and increase the sophistication of their tactics, the­ fraud prevention landscape must do the same in order to stay one step ahead. In an effort to show some recognition to the “good guys” out there and the innovative efforts being made to disrupt their respective marketplaces, Gartner has identified the recipients of this year’s “Cool Vendor” recognitions.

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Uber In Dubai Now Includes Yachts

PYMNTS

Though it’s an officially discouraged practice among drivers, Uber has been burning rubber with ambitious partnerships and service expansions over the past few months. What happens when Uber runs out of road to innovate on, though? It goes aquatic. Uber confirmed to CNN on Friday (April 29) that it would embark on a new venture in Dubai over the weekend where a chartered yacht will ferry a lucky dozen riders through the Middle Eastern city’s waterways.

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Why Mobile Matters In Restaurant Payments

PYMNTS

When looking for evidence as to why in-store mobile payments haven’t taken off (a hot topic in Karen Webster’s column this week), there are a number of factors to consider but only one real guiding principle: certainty. Consumers need to know that they can use that method of payment where they like to shop and that it will work the same way each and every time.

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Walmart Thinking Small When It Comes To Tech

PYMNTS

Walmart is open — not just for business but to new technology ideas. After several years spent trying to infuse its multi-billion dollar business with more forward-thinking concepts with mixed results , last week, the retail giant announced that it will be conducting what amounts to an open call for tech innovation. It is looking to startups to potentially lead growth with big ideas and new technology solutions from small, agile 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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The ‘Nine Deadly Costs Of Fraud’

PYMNTS

Online merchants know very well that fraud costs them in many ways – in chargebacks, in false positives, in the friction that’s introduced at checkout that can cost a sale. But there’s nothing like putting the cost of fraud into the parlance that merchants know really well: units sold. Something that Kount says its data shows that merchants must make eight additional sales to make up for the cost of one fraudulent order.

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Online Fraud’s Biggest Problem: Scale

PYMNTS

Online fraud problem? What fraud problem? Judging from the latest Benchmark Report from CyberSource, online merchants are not only doing a great job of managing fraud, they are doing it across all online channels — and across all types of businesses. Doug Schwegman, Director of Market Intelligence at CyberSource, told MPD CEO Karen Webster that “what’s interesting is that trends are positive,” though Schwegman acknowledged that the study of 307 businesses was done last fall bef

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Bitcoin Creator Craig Wright Steps Forward

PYMNTS

After a few years of speculation — and a couple of fairly notable wrong guesses — the real creator of bitcoin has been identified — mostly because he identified himself. Australian entrepreneur Craig Wright has stepped forward and admitted to being the real “Satoshi Nakamoto.” Apart from the claim, Wright has also submitted proof in the form of coins known to be owned by bitcoin’s creator.

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What “60 Minutes” Missed About FinTech

PYMNTS

Over the weekend, CBS brought FinTech to prime time during a segment of its “60 Minutes” broadcast on Sunday (May 1). The program offered an exciting and broad overview of how startups in the space are using technology to innovate the delivery of payments and financial services. Lesley Stahl, who hosted the segment, used Stripe as an example of how FinTech is transforming payments and, in particular, how they simplify the process new merchants face when attempting to accept payments online.

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Daily Data Dive: Chip Card Migration Stats

PYMNTS

The latest stats released by MasterCard give more optimism about the U.S. EMV adoption rate by merchants and issuers. And for today’s Daily Data Dive 5-in-1, PYMNTS has broken those stats down: 1.2 Million | The number of chip-active merchant locations as of April 30, 2016. 121 | The percentage increase in EMV-enabled merchant locations since the Oct. 1 deadline. 67 | The percentage of U.S.

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Will AP Rise To The Challenge As A Strategic Function Of The Enterprise?

PYMNTS

If you think of the rise of corporate America over the last century, the function of the accounts payable department probably doesn’t come to mind as one of the main players. But something has happened over the last few years, according to Coupa VP of Strategy and Product Marketing Donna Wilczek: Technology has enabled AP professionals to become strategic and massively important to the success of any corporation, large or small.

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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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Top Digital Banking Players Ranked

PYMNTS

The digital banking industry is heating up — and fast. That’s why, in the May edition of the PYMNTS Digital Banking Tracker™ , we’ve profiled 58 players from the FinTech and consumer banking space, including 10 additions to the Tracker: CashControl, CSI, Finex Banking Solutions, HelloWallet, Innofis, Kony, Money Lover, SilverWiz, The One Place Capital Limited and Q2 Software, Inc.

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B2B Deals Bust (And Zooz Raises Funds For International Moves )

PYMNTS

On the consumer end of an eCommerce transaction, these days, clicking the buy button is usually the end of the road. Usually, the transaction goes through, the widget goes into the mail and everyone goes to bed happy. Sometimes, the card gets declined, the consumer gets frustrated, moves on and the merchant misses the sale. Now, if there was legitimately something amiss with the card — it happened to be stolen, for example — then that rejection is a good thing, because, by rejecting the transact

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Trade Fraud Is ‘Ground Zero’ For Banks And Blockchain

PYMNTS

Banks may not always be up for overhauling their operations with a largely untested, disruptive technology, but new reports suggest the threat of fraud in one area of corporate finance is encouraging financial institutions to adopt distributed ledger technology in growing volumes. Reports by Bloomberg on Sunday (May 22) said banks are examining ways to protect themselves against fraud in the trade finance sector, worth $4 trillion in today’s market.

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Say ‘Hello’ To … Voice Banking?

PYMNTS

“Siri, help me find the nearest Starbucks.”. “Hey Cortana, play some yacht rock.”. “Alexa, pay cable bill.”. This month’s Digital Banking Tracker™ cover story features an interview with Ed Metzger, Santander UK’s Head of Innovation about their early feedback from incorporating a voice assistant into their student-focused SmartBank app – and what’s next for voice technology in banking.

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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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Artificial Intelligence Seeks Real Shoppers

PYMNTS

Let’s check in with who’s on the AI (artificial intelligence) train. Apple kicked things off this year, announcing back in January that it had purchased Emotient, an AI tech startup in the facial recognition business. Did Apple say why it bought that company? Of course, it did not ; mind your own business. Jump ahead to spring, and the next big company in the retail space (specifically, the biggest company in eCommerce) to make an AI-related move this year was Amazon.

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MasterCard Makes Robots Pay

PYMNTS

We don’t have to look far to see the ways in which cartoons and comics of the past – with their futuristic tools and services – are influencing the advancing technologies we see hitting the market today. Though we may not have reached the threshold of flying cars and warp drives just yet, robotics are quickly starting to change the ways in which humans approach many different aspects of our everyday lives.

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Should Obama ‘Heed The Call’ On Bitcoin?

PYMNTS

President Barack Obama and his administration get a lot of demands, to say the least. Stop ISIS, bring peace to the Middle East, clean up the economy, create more jobs, fix the education system, lower taxes, etc., etc. Of course, that’s just what comes with the territory. One thing that’s probably not higher on that rapidly growing list?

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This App Makes Credit Card Payments Automatic

PYMNTS

There’s a new app in town that wants to make it easier to remember to pay those credit cards. Or as its co-founder Jason Brown told Mashable : “It’s kind of like a self driving car for your credit card.” Yes, the apps have taken over. And it has one goal: making sure those credit card companies don’t slap the consumer with another late fee again.

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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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Making Strategy A Numbers Game

PYMNTS

Chief financial officers have a lot on their plate — from ensuring an entire company is financially viable to managing activities that make that company not only efficient but also profitable. A day in the life of the CFO in 2016 looks drastically different from just five or 10 years ago. With a significant shift away from manual processes and the onset of new technologies, a CFO’s responsibilities have broadened to encompass more than simply managing the P&L.

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Verifone CEO On Letting Go Of ‘Perfect Payments’

PYMNTS

“Too many people start to have an imagination about ‘nirvana’ or the ‘perfect transaction’ – but that’s a science experiment.” It’s true, the idea of perfection in payments may be a bit far-fetched, but if there’s no actual “nirvana” then what is everyone striving for? In a Fireside chat with MPD CEO Karen Webster at this year’s PYMNTS Innovation Project , Paul Galant, Verifone CEO , said it’s really about the day-to-day efforts of delivering efficiency,

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A Tale Of Two Payments Regions: UK And Germany

PYMNTS

The only way to predict what the emerging payments trends are for today is to seek out the one group of people who has the power to control the entire market: consumers. But, of course, no two consumers are exactly alike – especially when comparing consumers across different regions of the world. To truly understand how consumers think and act on a global scale, talking to them about their payments preferences is the only way to help those who’d like to influence that behavior seems pretty

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The Confusing State Of Small Business In America

PYMNTS

Some of the largest financial institutions came out this week with new statistics on small business sentiment in the U.S. Bank of America, Capital One, Wells Fargo, Chase and more published their findings — sometimes to contradicting conclusions. Small business sentiment is perhaps the most mixed and muddled metric. Chase reached some optimistic conclusions regarding how small business owners feel about the year ahead, while Capital One highlighted a 9 percent decline in SME optimism.

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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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The Wearable POS

PYMNTS

Bringing Wearables To The POS Frontline. What if merchants could wear the POS? No joke. Merchants have seen the benefits of “line busting” solutions that put mPOS tablets in the hands of a sales associate or employee. But in the May edition of the Developer Tracker, powered by Vantiv, Jeremy Feldman, CEO of stealth startup LibriSpark , shared his vision for how merchants can now take this to the very next level: making POS not only mobile, but wearable.

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Malware Tricks ATMs Into Skimming

PYMNTS

ATM skimming just got taken to the next level. Kaspersky Lab announced new research regarding a hacker collective, known as the Skimer group, that uses malware to essentially make an ATM steal users’ money. Instead of putting skimmer devices on the ATM, this group makes the entire ATM a skimming device. This program was first discovered in 2009, but researchers have now discovered that the malware is being reused to attack banks around the world.

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So Far, 2016 Is A Boom Year For Retail Bankruptcies

PYMNTS

This time last year, U.S. companies were going bankrupt at a rate nobody had seen in half a decade. More than 26,000 companies bit the bullet in Q1 2015, giving pundits reasonable cause to worry about the future solvency of the organizations that remained. Over the next several quarters, the overall pace of bankruptcies mercifully slowed. In fact, in Q1 2016, Chapter 11 filings from commercial companies actually fell 5 percent across the board.

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Regulations, Regulators And The High Cost Of Banking Compliance

PYMNTS

And the regulations just keep coming. In the banking industry, the mindset among compliance staff seems to be one where the expectation is to have a new rule governing new rules that govern new rules. As noted in The Wall Street Journal Tuesday , the fact remains that lenders are “awash in new regulations,” with swelling ranks of both interpreters and enforcers bringing “striking changes” to banks and their own internal day-to-day mindsets and operations.

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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.

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Giving Big Data Decision-Making A Real-Time Touch

PYMNTS

Big data, big data, big data. We all know the term, understand its significance and have seen plenty of examples across the industry of how businesses are utilizing massive amounts of data (and the applied analytics needed to make sense of it all) as a competitive edge in the market. But what if the way companies are going about big data and analytics is all wrong?

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Revel Brings Expense Reporting Straight To The POS

PYMNTS

Revel Systems wants to lessen the gap between a purchase and its appearance on a corporate expense sheet and has inked a partnership to do so. An announcement on Tuesday (May 24) said Revel is working with Expensify to connect its mobile point-of-sale solution into Expensify’s expense report creation and management tool. The move marks the first-ever POS company to integrate with Expensify, Revel said.

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Radial’s Fraud Combating Solution For eCommerce Growth

PYMNTS

Radial , an omnichannel and fraud solutions provider, is promising to take away merchant woes with a suite of solutions, which it says improves order conversion rates and helps eliminate fraud. “According to Forrester’s eCommerce Forecast 2014–2019 , eCommerce sales are expected to jump to $480 billion by 2019, and mobile purchases are expected to grow to $142 billion this year,” said Stefan Weitz, chief product and strategy officer at Radial.

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CVS Kisses The Paper Receipt Goodbye

PYMNTS

CVS Pharmacy has finally heard the many pleas of its customers who took to Twitter after Jimmy Kimmel called out the drugstore chain for its unwieldy receipts. In a surprise appearance on ABC Network’s “Jimmy Kimmel Live!” CVS President Helena Foulkes announced the launch of digital receipts , which the company says would soon let the members of its ExtraCare Rewards program collect receipts in their email.

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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.