May, 2020

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Alabama Reopens And COVID-19 Cases Soar 300 Pct Month Over Month

PYMNTS

After Alabama reopened on May 1, the state has seen coronavirus cases surge by 300 percent month over month, with intensive care units (ICUs) at less than 4 percent capacity remaining and medical workers “exhausted physically and mentally,” Montgomery Mayor Steven Reed said on CNBC. Reed said his region has “improved marginally,” but that it is “not enough to get us out of this crisis moment.” “We can manage it, but we can’t sustain the trend that

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How To Receive PPP Forgiveness as a Sole Proprietor

xendoo

The Xendoo team has compiled many resources on the PPP to help small business owners everywhere. Check out our additional resources here: What do I need for my PPP application? Your Guide to PPP Loan Forgiveness. Paycheck Protection Program Guide. Many business owners that are sole proprietors are searching for information on how to make sure their PPP loan is fully forgiven.

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Webinar: Getting Back to Work: Considerations for Reopening Your Not-for-Profit

Katz,Sapper&Miller

As not-for-profit organizations plan their return to work, they face many legal and operational considerations. What factors should be top-of-mind? How can organizations protect their employees’ health and well-being while effectively reopening for those they serve?

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PPP Loan Forgiveness (Live Webinar)

CapataCPA

PPP Loan Forgiveness Webinar The webinar is now over: If you happened to miss the webinar, we don't want you to miss out on the valuable information about PPP Loan Forgiveness, you can now watch it at your convenience. Because of the amount of information regarding the PPP loans, we may not have had a. The post PPP Loan Forgiveness (Live Webinar) appeared first on CPA firm in Orange County, CA | CAPATA.

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Planning Your Restaurants 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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Ben’s Message

MazumaBusinessAccounting

June Newsletter. As a small business owner, I am constantly hiring new employees and am immersed in the hiring process. I love the beginning of the process, particularly looking through resumes. Each resume has a story. The single piece of paper has years of hard work, dedication, experience, and discipline. I often ponder at my own experience and wonder “what’s my story, and what’s the next chapter?

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Demand For Faster Payments Skyrockets

PYMNTS

If you want to know how consumers feel about faster payments, talk to the millions of Americans who still have not received stimulus money as of mid- to late-May. The U.S. real-time payments void has hurt commerce, too, as PYMNTS research finds that close to 39 percent of small to mid-sized businesses (SMBs) have reduced payrolls to help relieve cash flow stress, and nearly 30 percent simply went under.

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Visa Seeks Patent On System To Turn Government Currencies Into Digital Blockchain Versions

PYMNTS

Credit card giant Visa has filed an application for a U.S. patent on a computer system that would convert physical dollars and other fiat currencies into digital versions, complete with denominations and serial numbers and recorded via blockchain. The system would then remove the paper currency from circulation. “According to the [details] discussed herein, the payment ecosystem may become entirely (e.g. 100 percent) digital,” Visa wrote in its application, which was originally filed with the

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Georgia’s Push To Reopen Falls Flat As Consumers Stay Home

PYMNTS

The road to recovery after the coronavirus pandemic is widely expected to be a winding one as businesses, consumers and officials work to figure how to restart an economy intentionally shut down roughly two months ago. It is a situation complicated by the fact that a roughly comparable event hasn’t occurred in the U.S. in over a century, meaning there is no living expert with any practical expertise at managing the fallout from an incurable pandemic.

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Virtual Tellers And Workhorse ATMs: Banking’s New (Digital-First) Normal

PYMNTS

The prospect of restarting the economy of bringing all manner of everyday life in the U.S. back to some semblance of “normal” has challenges — and opportunities for banks, especially community banks and credit unions. The challenge lies with serving the needs of the individual who may be hesitant to go back to the old ways of banking — of walking up to teller windows, of handling cash in envelopes.

Start-ups 122
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JCB And TECHFUND Partner For Blockchain Payment System Ideas

PYMNTS

Japan-based credit card and payment firm JCB has announced a partnership with tech startup accelerator TECHFUND to explore the idea of a payment system with blockchain options, the company said on Friday (May 15). It is currently unknown whether the idea will focus on public blockchain or if the idea will just use the accelerator to access entrepreneurs.

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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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Preparing Merchants For The Coming Mobile Wallet Boost

PYMNTS

Call it the great shift. We’re still navigating the pandemic — which means doing what we used to do offline, increasingly, through digital means. As PYMNTS found in a recent consumer study, 40 percent of individuals are doing more of their daily retail and transactions online, partly because, well, there’s no other way to do it. And as many as 22 percent of the population surveyed said those habits would stick.

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Amazon Eyes JCPenney Buy

PYMNTS

Amazon could be in talks to acquire the bankrupt clothing retailer JCPenney , Fox Business reported, citing Women’s Wear Daily (WWD). JCPenney officially filed for bankruptcy late Friday (May 15), ending speculation as to the beleaguered former retail titan’s financial status. Now, Amazon could be moving in. One source, according to WWD as reported by Fox Business, was “in Plano as we speak,” referring to the Texas city where JCPenney is headquartered.

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Disrupting Traditional Payroll For A New Economic And Global Normal

PYMNTS

For all the human and business impacts caused by the global coronavirus pandemic, the crisis has also been instructive, particularly in illustrating the shortcomings in systems that worked just fine — until they didn’t. The massive and simultaneous global shift to digital has put a spotlight on traditional supply chains, antiquated paper-based processes and an aging payments infrastructure.

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Dubai Creating $870M Free Trading Zone For eCommerce

PYMNTS

The government of Dubai is planning to create an $870 million free trade zone for eCommerce named Dubai CommerCity (DCC). The development project will be located next to Dubai International Airport. . The project is being developed collaboratively with two state-owned enterprises — the Dubai Airport Freezone Authority ( DAFZA ) and the property firm wasl.

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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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Will Restaurants Ever Find A Way To Beat The Grocery Store?

PYMNTS

The fact that grocery stores are comprehensively winning the race to keep the American consumer fed shouldn’t be too surprising, considering grocery stores are by and large still open for business, and restaurants have been forced by statute in most places to close their doors. In the world of retail sales, it’s hard to find a bigger advantage than being open in the face of everyone else’s closure.

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How Banks Can Guide FinTechs Through Their First Economic Downturn

PYMNTS

From competitors to collaborators, the FinTech boom introduced a field of opportunity for traditional financial institutions to team up with an industry newcomer to become more agile and modern with their own product offerings. While FinTechs are, in many ways, useful allies to banks, traditional FIs can also be a critical partner to FinTechs that lack the resources or opportunity to acquire their own banking license.

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Why Unified Commerce Is Critical For Merchants — And Catnip For Fraudsters

PYMNTS

The shift to digital commerce is more urgent than ever — and so are some of the potential pitfalls as fraudsters recalibrate their attacks and eye card-not-present transactions as a new way to make off with ill-gotten gains. In an interview with Karen Webster, Carleigh Jaques, senior vice president and general manager of CyberSource , a Visa solution, said commerce is now different, especially for smaller enterprises.

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Improving Conversions While Navigating The Great Digital Shift

PYMNTS

When the pandemic is over, there will be thousands of books written about the ways the coronavirus changed daily life, globally. Among those will be – or should be – a tome on how the great shift to digital commerce drove merchants to connect to multiple services. In an interview with Karen Webster, Justin Benson, CEO of Spreedly , said the shift is a critical one, requiring merchants to rethink how they approach payments and, as a result, optimize revenues.

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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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Visa Leads Latest Funding For FinTech Startup Nium 

PYMNTS

FinTech payments startup Nium , based in Singapore, is getting a new round of funding led by new investors Visa and BRI Ventures. Nium, formerly known as InstaReM, has closed four funding rounds totaling $59 million since it was founded in 2014. The size of this latest round was not disclosed. Prajit Nanu, chief executive officer (CEO) and co-founder of Nium, said in a statement on Wednesday (May 6) that he is “thrilled” to get the backing of “prestigious” new investors like Visa and BRI Venture

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Payoneer CEO: eCommerce’s Surge And Brick-And-Mortar’s ‘Vicious Cycle’

PYMNTS

The coronavirus has spurred a seismic shift in commerce, moving shopping into the digital realm. . Consumers are buying anything (and seemingly everything) and conducting all manner of everyday business online because that is their only option. . In an interview with Karen Webster, Scott Galit, CEO of Payoneer , said the impact will continue to be global in scope and deeply felt across all avenues of commerce — giving new rise to cross-border commerce. .

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EMQ Bolsters Global Payments With New Enterprise Settlement System

PYMNTS

To bolster global payments for businesses throughout the world, EMQ launched its new enterprise payment technology with same-day settlement functions in local currencies throughout eight countries. The nations include China, Indonesia, India, the Philippines, Malaysia, the United Kingdom, Singapore, and Japan, according to an announcement. . The enterprise settlement technology of EMQ lets companies, banks, and other licensed financial institutions access same-day settlement with more transpa

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Shopify To Launch New BNPL And Banking Tools For Merchants

PYMNTS

Shopify , an eCommerce company, hosted its first virtual event for members of its global community, the Canadian firm announced Wednesday (May 20). Dubbed “Reunite,” it gave attendees a glimpse into updates and new products designed to help entrepreneurs boost profits. “This is a difficult time to be an entrepreneur — the retail landscape is shifting under our feet, and the old way of doing things no longer works,” Shopify said in a statement.

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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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Alibaba Developing AI For Tmall Genie Smart Speakers

PYMNTS

China’s Alibaba Group is putting $1.4 billion into the development of artificial intelligence (AI) for its Tmall Genie smart speaker, the company said in a statement on Wednesday (May 20) following a press conference. The upgrade and innovation centered around its flagship Tmall Genie smart speaker will use proprietary technologies that combine AI and the Internet of Things (IoT).

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Using Sensors And IoT To Thwart Home Invasions (Of Privacy)

PYMNTS

To monitor a home and to make sure all is safe and secure means you have to monitor the people and the activities inside. How to do that without destroying privacy in the age of work from home, shop from home, do-everything from home? In the age of connected devices, it may be that the sensor can go a long way toward eliminating that all standby, the unblinking eye of the camera — always on, and perhaps intrusive.

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Why Cultivating Customer Loyalty Has Become The Crucial Commerce Capability

PYMNTS

Consumers are thinking about their commerce experience through an entirely different and largely safety-focused lens in a way they never have before. It’s a story told in the data — the PYMNTS COVID-19 Brief Series quantifies the myriad ways health and safety have become prime factors in consumers’ lifestyle choices. And it’s a story told in the subtle but noticeable shifts happening in all of our own lives anecdotally.

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Visa Expands Visa Token Service, Eyes eCommerce ‘Balancing Act’

PYMNTS

Visa said Wednesday (May 13) that 28 new partners — spanning a range of gateway acquirers and technology partners — are joining Visa Token Service as credential on file token requestors. The 28 additions add significantly to the 150 token requestor partners that had been included in Visa Token Service through the years since the service launched in 2014.

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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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NEW DATA: States Push To Reopen – Will Consumer Demand Follow?

PYMNTS

It has been almost two months since the World Health Organization (WHO) first declared the coronavirus a pandemic on March 11, and it has since taken an unprecedented toll on consumers’ wellbeing and livelihoods. Many policymakers are making a push to lift the restrictions that have been put in place to slow the spread of contagion in the hopes of reviving the battered economy.

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Why ?Dining Out? Is About To Become A Much More Literal Term

PYMNTS

Memorial Day weekend is upon us – which means here in the United States, summer is officially setting up to begin. Sort of. With the outbreak of an international pandemic, our summer plans have been rather modified, as consumers seem to be considering what the safest summer plans might be, and opting to tread a bit differently than they have in the past. .

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H1 Insights: Improving Patient Outcomes By Changing How Doctors, Pharma and Patients Find Each Other

PYMNTS

In healthcare, increasingly, data is critical for addressing inefficiencies in a system that is nearly 18 percent of U.S. GDP. And perhaps, most critically, matching patients with the right doctors, and various healthcare professionals with the right pharmaceutical companies during research and trials can speed treatments and new drugs as they move from concept to real-life therapies.

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Vista Equity Injects $1.5B Into India’s Jio Platforms

PYMNTS

Jio Platforms Ltd., India’s largest mobile operator, announced it is raising 113.67 billion rupees ($1.5 billion) from Vista Equity Partners, the U.S. private equity firm. The deal is the latest in a series of investments by the Mumbai-based firm to eliminate its debt, The Wall Street Journal reported. . Last month, PYMNTS reported that Facebook would invest $5.7 billion for a 10 percent stake in Jio Platforms, the digital technology arm of Indian billionaire Mukesh Ambani’s conglom

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"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.