PYMNTS
MAY 3, 2018
From mom-and-pop retail shops to the world’s largest companies, nearly every business is looking to offer the latest technology to its consumers. For many in the financial services world, though, implementing innovations is easier said than done. So, what’s standing in the way of FIs, the largest of which come to the table armed with big budgets and endless resources?
PYMNTS
MAY 1, 2018
A new survey by ACI Worldwide and Ovum found evidence that financial institutions (FIs) are more willing to open up their data via API and are embracing real-time payments initiatives. The report, published on Monday (April 30), found nearly three-quarters of banks surveyed (73 percent) said they would be willing to open up data to third-party developers via API.
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PYMNTS
MAY 25, 2018
As Europe’s General Data Protection Regulation (GDPR) comes into effect, Facebook privacy critic Max Schrems has filed four complaints over consent required to use online services. The complaints were filed against Facebook — along with its Instagram and WhatsApp services — and against Google ’s Android, TechCrunch reported. “It’s simple: Anything strictly necessary for a service does not need consent boxes anymore,” Schrems wrote in a statement.
PYMNTS
MAY 3, 2018
Its name is Hermyz. Its mission, which just won the official admiration of Visa , is to move small businesses away from checks and paper receipts by migrating invoice management online. Hermyz took the grand prize and the $10,000 that came with it at last weekend’s Small Business Hackathon, an inaugural event that took place in Washington, D.C., with the backing of Visa and the U.S.
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PYMNTS
MAY 25, 2018
Among the latest hopes for healthcare payments is blockchain. Touted by observers and industry players as one of the top trends that could impact medical billing and data management for 2018, the technology is increasingly being viewed as part of the path to better efficiency in payments. For instance, ConnectingCare , a company that helps far-flung practitioners view patient data across different points of care, wants to use blockchain for cost forecasting and to enable direct pay options for h
PYMNTS
MAY 28, 2018
Apple is reportedly gearing up to allow third-party developers to get full access to the Near-Field Communications (NFC) chip in the iPhone with iOS 12. Citing The Information, 9to5Mac reported that Apple is aiming for the iPhone to be used for more digital payments and other interactions, such as opening hotel room doors or as a virtual transit card for easier access to transportation.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
PYMNTS
MAY 10, 2018
Synchrony Financial announced today (May 10) that it will acquire Loop Commerce , the digital gifting platform used by retailers to make every product giftable. Using Loop’s GiftNow feature, consumers shopping for someone else at a participating retailer can send any product to any recipient using only their email address and then schedule a time for that item to be delivered, including in real time.
PYMNTS
MAY 11, 2018
Robots aren’t going to take over the world, but humans could use them for some scary stuff. That’s Amazon CEO Jeff Bezos’s take on artificial intelligence (AI), according to CNBC. And in the wake of Google ’s latest tech revelation, many experts are agreeing with him. Google revealed its human-sounding AI assistant Google Duplex during this week’s I/O conference.
PYMNTS
MAY 2, 2018
New technology and solutions powered by APIs are hitting the financial services market every day, brought on by new innovations or industry regulations. But introducing tech to stay compliant with new regulations and expecting easy adoption in a competitive space is a steep hill to climb – one made even tougher by outdated or legacy technology and IT infrastructure. .
PYMNTS
MAY 30, 2018
It’s not easy being a bank these days, and it’s often easy to overlook how many challenges traditional banking players face, on many fronts. “Banks are burdened with a lot of challenges that are not of their own making or design,” Gerhard Oosthuizen, CTO at Entersekt , said in a recent conversation. Banks, he noted, have to be compliant with a host of extremely stringent regulations, and often across multiple jurisdictions – all with different rules.
Speaker: James Kahler, COO of Full Course
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PYMNTS
MAY 22, 2018
Payments software company HPS is launching an API for other FinTech innovators to integrate into banking systems. The company announced news on Monday (May 21) that its PowerCARD Connect-Open API aims to help FinTech developers integrate mobile payment, tokenization, biometrics and other emerging banking technologies into their own solutions. The rollout follows a pilot version of the API launched last year, HPS noted, adding that the API can support “servicing” and “transacting,” enabling push
PYMNTS
MAY 29, 2018
In the early 1950s, an engineer named William Fair encountered a mathematician Earl Isaac who together decided to work out an automated credit scoring system for banks. In 1954, they came-up with the first version of the Fair Isaac credit score — or the FICO. It was a huge flop. Banks didn’t trust that an automated system could do nearly as good a job as personal bankers when it came to evaluating customers and their likelihood to repay.
PYMNTS
MAY 28, 2018
It was a long time coming, but it’s here. As the world knows by now, the European Union’s General Data Protection Regulation (GDPR) took effect on May 25. The mechanics of what firms have to do when it comes to collecting, managing and processing data has been well-publicized. Equally well-publicized has been the readiness — or lack of readiness — of firms to bring data under the control of the consumer.
PYMNTS
MAY 9, 2018
As restaurant operators seek to bolster sales in the face of weak traffic growth, Yum! Brands’ Pizza Hut is bringing beer delivery to approximately 100 of its restaurants in California and Arizona. The restaurant chain had begun testing the service in Phoenix back in December, Reuters reported. The new rollout will include cities such as Tucson, Prescott and Winslow in Arizona, and Los Angeles, Bakersfield, Sacramento and Santa Barbara in California.
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
MAY 30, 2018
PayPal announced Tuesday (May 29) that it has acquired Jetlore , the artificial intelligence-powered prediction platform. In a blog post , PayPal said Jetlore’s platform is used by some of the leading retailers around the globe. “With Jetlore’s talent and AI-powered technology, we will enhance and accelerate PayPal Marketing Solutions, adding new capabilities that continue to expand PayPal’s value proposition for merchants beyond the online checkout experience,” wrote PayPal in its blog post.
PYMNTS
MAY 17, 2018
Revolut announced Thursday (May 17) the full release of its Open API for business customers, which it started testing roughly a month ago. In a blog post , Revolut said the response from the business community has been “nothing short of amazing,” and that the community is already using the API to make payments easier, saving time and removing frustration.
PYMNTS
MAY 15, 2018
The Amazon Go store is getting ready to expand into San Francisco and Chicago. The first cashierless Amazon Go store opened in January in Seattle after being in development for five years. It’s located on the ground floor of the eCommerce giant’s new headquarters. Customers are able to choose from pre-made salads, sandwiches, snacks and meals, as wells as beer, wine and other beverages.
PYMNTS
MAY 29, 2018
New research from Kaspersky Lab shows that the average cost of experiencing a data breach globally is on the rise. The annual Kaspersky Lab Corporate IT Security Risks survey is a worldwide survey of IT business decision makers, which this year had a total of 6,614 respondents from 29 countries. The company found that breaches now amount to $1.23 million on average for enterprises (up 24 percent from $992K in 2017), and $120,000 on average for small and medium-sized businesses (up 36 percent fro
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PYMNTS
MAY 17, 2018
It’s happened again. Wells Fargo on Thursday (May 17) was facing accusations that its employees altered customer data, this time in a business banking unit, according to The Wall Street Journal. The paper, citing unnamed sources, reported that bank employees “improperly altered information on documents related to corporate customers.”. There is no evidence that any data involved creating fictitious accounts for retail consumers, as was the case in the scandal from about two years ago.
PYMNTS
MAY 10, 2018
Wells Fargo announced news on Thursday (May 10) of the launch of Pay with Wells Fargo, a new service for its mobile app that brings payment options to the home screen of the app before a customer must log in. In a press release , the bank said customers can select their most commonly used payment method, including Zelle , mobile wallets, Card-Free ATM Access code and transfers, without having to sign into the app.
PYMNTS
MAY 2, 2018
Millennials love to share. Ridesharing, home-sharing, bike-sharing — you name it, they probably share it. They are proportionally comfortable using gig economy services that provide these things, with about a third of millennials working some sort of gig position themselves. This generation also loves to travel, and many delay starting families (or forego it altogether) to continue exploring the world or otherwise pursue self-fulfillment.
PYMNTS
MAY 1, 2018
“Machine learning is the answer to the financial inclusion problem.”. So said Douglas Merrill, founder of ZestFinance. It’s a bold statement, considering that the lending space is still trying to articulate what, exactly, the financial inclusion problem is — and everyone else is still trying to figure out what, exactly, “machine learning” means and why it matters to them.
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PYMNTS
MAY 18, 2018
In today’s digitally connected global economy, employers don’t need to think local when hiring freelancers – but thinking local still applies when paying the freelancers they employ. Gig workers , whether working for an employer in the same country or across the globe, prefer payments in their local currencies and for funds to be quickly deposited into their bank accounts.
PYMNTS
MAY 14, 2018
If one were to play a word association game and throw the term “cable home shopping” into the mix, more likely than not the two most frequent responses would be “QVC” or “HSN,” the two leading players in the space. Classifying them as two separate players is a bit outdated, though, since QVC’s parent firm, Liberty Interactive Corp , purchased the remainder of HSN’s parent, HSNi, in July of last year.
PYMNTS
MAY 30, 2018
It’s an experience that almost every American adult can relate to: the holiday trip to an emergency room with an injured or sick child that becomes a half-day experience. It’s usually prompted by a just serious enough medical emergency that doesn’t quite require an ambulance, but does require a higher order of care than the typical urgent care clinic – and something that can’t wait for normal office hours the next day.
PYMNTS
MAY 29, 2018
More than half of all drivers think they are better than average at driving — a fact that mathematical possibility cannot approve. Some of those people are certainly wrong but, though it is fun to judge, the fact is that knowing what one doesn’t know — and where to fill in the gaps — is not easy. It’s especially difficult when one is adapting to a new regulatory order , building to the API-driven future , creating a C-suite team or even underwriting a loan for a rarefied population like soldiers
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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.
PYMNTS
MAY 17, 2018
Days after iZettle said it planned to seek a listing on the NASDAQ Stockholm stock exchange, PayPal Holdings Inc. has announced that it is acquiring the Swedish payments company for $2.2 billion in cash. With the deal, which may close in the third quarter, iZettle’s co-founder and CEO, Jacob de Geer, will reportedly continue on with iZettle, TechCrunch reported.
PYMNTS
MAY 17, 2018
Sometime around the year 2000, small business (SMB) owners woke up one day and realized they needed a website. The case for SMBs having their own websites is so clear as to be moot today, but that wasn’t the case in the early days of the World Wide Web. Businesses could be forgiven for failing to see the value of staking a claim on their corner of the web.
PYMNTS
MAY 18, 2018
JPMorgan , it seems, is underway with inching into cryptocurrencies. Among the first shots across the bow of making things official? Creating an official position. Fortune , citing Financial News, reported Thursday (May 17) that the firm has established a position to be known as “Head of Crypto-Assets Strategy.” The first executive named to the role is Oliver Harris, who had been at the helm of the “in residence” program for FinTech startups.
PYMNTS
MAY 3, 2018
Customer service matters in all walks of business, to consumers and businesses alike, but especially so in payments. Troubleshooting issues when they arise, or anticipating them before they happen, can make all the difference in ensuring transactions and other business processes flow smoothly and voluminously. In an interview with PYMNTS, Latiffa Sharpe, vice president of merchant services for First American Payment Systems , said that merchants, in establishing relationships with their payment
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