PYMNTS
JULY 13, 2019
In this age of live multi-player online gaming, and virtual reality, and all things digital, it can be easy to think of board games as an artifact of the analog world. No doubt many households have a collection of board games in the closet or basement, but so many of them do nothing so much as collect dust, perhaps pulled out during the holidays after the presents are opened and the kids are getting fidgety.
PYMNTS
JULY 30, 2019
A former Amazon systems engineer working for Capital One is said to be the woman behind a breach that accessed the data of over 100 million people. Software engineer Paige Thompson, 33, allegedly boasted about the hack and left crumbs for investigators to follow, The New York Times reported. Thompson formerly worked for Amazon Web Services, which hosted the Capital One database that was breached.
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PYMNTS
JULY 8, 2019
The good old days of a two-year product development cycle are pretty much over. These days, no matter how creative, innovative and disruptive an idea a financial services player may have, the reality is they don’t have a lot of time to sit around developing it. “Speed to market is critical, more so today than it has ever been in history. In a couple of months, your great idea will have two or three competitors,” Joseph DeRosa, executive vice president of global sales at i2c , told PYMNTS in a re
PYMNTS
JULY 5, 2019
It’s been a little over two weeks since we all got our first look at Libra and Calibra. No doubt there will be countless news stories to come, and opinions on why it will or will not fly. Here are the things I will be watching for over the coming months, things that I think provide a useful framework for understanding how Libra and Calibra’s future takes shape: How many of the 28 Founding Association Members will pony up $10 million to remain members.
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PYMNTS
JULY 7, 2019
Are new bitcoin rules coming? According to The Wall Street Journal , “the Internal Revenue Service is expected to update its 2014 guidance on cryptocurrencies in coming weeks, following an April request from a bipartisan group of 20 lawmakers. It is part of a broader push to boost the nascent cryptocurrency industry.” Not only that, but the newspaper said the U.S.
PYMNTS
JULY 8, 2019
Many traditional banking institutions and governments have shown skepticism, silence and resistance to Facebook’s proposed cryptocurrency Libra, according to reports. . Though the currency could potentially alter the financial landscape for good, many banks have simply not responded to the issue. “We’re still learning what it is and trying to work out where we stand on it — are we an opponent, partner or do we ignore?
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 8, 2019
In the pre-digital age of financial services, AML/KYC was a very slow process. The government would put out their lists of sanctioned entities – hostile governments, drug kingpins, organized crime organizations and affiliates, etc. – and compliance teams would manually check onboarding customers to make sure their records were clear. The system has always had its flaws, noted Alain Meier, CEO of Cognito – but in a pre-digital banking world where onboarding was a multi-day process, it wasn’t comp
PYMNTS
JULY 15, 2019
Call it remittance on a global scale, or P2P without borders. PayPal said on Monday (July 15) that it is launching Xoom, its international digital money transfer service, in the United Kingdom and 31 markets spanning Europe. The company said “the service will benefit millions,” including more than nine million people living in the U.K., and will pay out remittances to other individuals living in Nigeria, India, China, the Philippines and beyond, across 130 countries.
PYMNTS
JULY 26, 2019
Despite some hiccups along the way with Goldman Sachs, the Apple credit card is on track for an August release, according to a report by Bloomberg. The collaboration between the two companies was sometimes tense and the stakes were high if it wasn’t successful. The Apple Card could be launched as early as the second half of August, which would meet its originally scheduled date for release when the card was announced in March.
PYMNTS
JULY 30, 2019
Global payments revenues are at an all-time high, and experts predict that they could even climb to be a $2 trillion industry by 2020. Cross-border payment revenues currently account for approximately $200 billion, a significant slice of the payments pie. Currently, there are 0.7 international transactions per capita every year, up from 0.5 in 2014.
Speaker: Victor C. Barnes, CPA, MBA
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
PYMNTS
JULY 24, 2019
To reinforce the Federal Reserve’s authority to create a real-time payments system and mandate that the Fed brings about its own process, two U.S. representatives and two U.S. senators have introduced the Payment Modernization Act of 2019. The legislation was brought forward by Congresswoman Ayanna Pressley (D-MA), Senators Chris Van Hollen (D-MD) and Elizabeth Warren (D-MA), and Congressman Jesús “Chuy” García (D-IL), according to an announcement.
PYMNTS
JULY 11, 2019
In a first-ever congressional hearing on marijuana law reform, the House Judiciary Subcommittee on Crime, Terrorism and Homeland Security convened July 10 to debate altering federal law around cannabis, CNBC reports. The consensus is that major cannabis reform is needed but disagreement still remains over what legislation should look like and the best strategy to advance it.
PYMNTS
JULY 2, 2019
Payment bottlenecks cause problems for all types of consumers and companies, not the least of which are small and medium-sized businesses (SMBs). But a new offering from PayPal and Visa could help ease those frustrations and hassles. The two payments firms announced on Tuesday (July 2) the launch of PayPal’s Instant Transfer in Canada for SMBs and individual consumers.
PYMNTS
JULY 28, 2019
Jack Ma ’s MYbank is aiming to change the way China lends to small businesses. The 4-year-old bank uses real-time payments data and a risk-management system that analyzes more than 3,000 variables to allow borrowers to apply for a loan on a smartphone and receive cash almost instantly if approved. The whole process takes three minutes. So far MYbank has lent 2 trillion yuan ($290 billion) to nearly 16 million small companies, with a default rate of only about 1 percent.
Speaker: Kim Beynon, CPA, CGMA, PMP
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
PYMNTS
JULY 9, 2019
Retailers surely have more than enough to worry about these days. For one, the pace of innovation keeps speeding up – and that holds true for all types of retail niches, from apparel to grocery to others. Closely tied to that is the increasing demand from consumers for all types of fuller, interconnected, omnichannel experiences – shopping and transactions that not only combine offline and online channels, but are frictionless while also being fun and even memorable.
PYMNTS
JULY 29, 2019
The common view about Africa – once found in recent PYMNTS coverage – is that the vast, varied and massively populated continent represents the next frontier for eCommerce. The middle-class and disposable incomes are growing in many African countries. Although consumers are still without formal access to traditional financial services, a growing number of them are closely tied to their mobiles phones, and all the commerce and payments opportunities offered by those devices.
PYMNTS
JULY 17, 2019
Visa said early Wednesday (July 17) that it has acquired Payworks , a payment gateway based in Germany focused on the point of sale (POS). The company said in a release that Payworks will be integrated into CyberSource ’s portfolio of services offered to clients. In its release, the company said that Payworks’ cloud-based solution for in-store payments processing will be brought together with the CyberSource digital payment management platform, which will create, in Visa’s words, “a fully integ
PYMNTS
JULY 26, 2019
A Japanese FinTech company is applying for a banking charter in the United States, according to a report by American Banker. The eCommerce firm Rakuten currently runs a shopper rewards program in the States, and said would file the necessary paperwork on Friday (July 26) with Federal Deposit Insurance Corp. (FDIC) and the state of Utah for an industrial loan company (ILC) charter.
Speaker: Mark Gilham, FCCA, CPP
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
PYMNTS
JULY 31, 2019
Visa and Billtrust are announcing a major new user for their Business Payments Network (BPN) as of today (July 31). JPMorgan has announced it will use the service to streamline the delivery of electronic B2B payments for its commercial card clients. Launched jointly last November by Visa and Billtrust, the BPN is an open buyer/supplier payments platform created, according to Billtrust CEO Flint Lane, as a “better highway to drive their payments on.
PYMNTS
JULY 31, 2019
Even in 2019, there persists this idea in the mainstream that invention stems from the epiphany and late-night toil of the solitary scientist. The image stems from about two or three centuries ago, when medieval superstitions were being seriously challenged by empirical thought, and the view has been reinforced countless times — even into the early 21st century if you look hard enough — by books, movies, TV shows and other methods of cultural communication.
PYMNTS
JULY 15, 2019
A group of companies in South Korea are collaborating on a blockchain network to be used for mobile authentication services, according to reports. . Samsung Electronics; banks KEB Hana Bank and Woori Bank ; telecom companies SK Telecom , LG Uplus and KT ; and Koscom , an IT service subsidiary from the Korea Exchange, are all part of the group. The companies want to let users protect their own data with the service, which will also allow people to save information from institutions as well as oth
PYMNTS
JULY 29, 2019
A company called Glint Pay has launched a debit card that’s backed by gold instead of currency, according to a report in The Denver Post. The company is London-based, and its U.S. office is in Boulder, Colorado. The card was released in the U.S. on Monday (July 29). Glint Pay was started by entrepreneur Jason Cozens. “We want gold to be considered like any other currency,” Cozens said.
Speaker: Frank Taliano
Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
PYMNTS
JULY 9, 2019
The questions that seem simplest tend to be the most complicated. The answers to such questions also usually end up having more significance than the answers to other inquiries. Excuse the detour into pop philosophy or Jedi teachings, but that is the case when it comes to the question “Who are you?” Those three words strike at the heart of identity, and mean so very much when it comes to the efficient operation of the global digital economy and its continuing growth, whether via retail, payments
PYMNTS
JULY 30, 2019
FinTech startup Flutterwave is teaming up with Alipay to offer digital payments between Alipay and African merchants. Founded in Nigeria, Flutterwave is a a payments API that makes it easier for banks and businesses to process payments across Africa. “We’ve managed to connect African countries…to each other, so it was about time we connected Africa to the world.
PYMNTS
JULY 31, 2019
American Express has announced that it plans to acquire acompay, a digital payment automation platform, from ACOM Solutions. Acompay, which helps business customers make supplier payments, manage business spending, and improve cash flow, “will be the newest addition to a series of B2B payment collaborations, strengthening our accounts payable automation capabilities and equipping our customers with the tools they need to improve the way they process and settle supplier payments,” Anna Marr
PYMNTS
JULY 31, 2019
Mastercard is collaborating with Bahrain’s Electronic Network for Financial Transactions ( BENEFIT ) to develop a blockchain-powered B2B payments solution, according to a press release Tuesday (July 30). Together, the firms are developing a platform to enable faster, more secure cross-border corporate payments that would allow companies to more seamlessly move funds to beneficiaries and banks to directly share payment data with each other without the need for intermediaries.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
PYMNTS
JULY 8, 2019
In B2B commerce’s pursuit of the “Amazon-like” experience, both buyers and vendors have quickly discovered that business-to-business cannot take the same path that the business-to-consumer market did. Navigating through a fragmented field of disparate platforms, systems and data requirements is among the largest challenges to B2B eCommerce adoption today.
PYMNTS
JULY 30, 2019
In the art and science of reaching a consumer, some things never change. The gold standard of marketing is, was and ever shall be the same: Put the right product in front of the right consumer at the right time. Though much has changed in how that is done, that basic tenant remains the same. “Digital has created a really interesting opportunity to engage the customer throughout their journey and make it possible to use the services that will help them have a better experience all around,” Franci
PYMNTS
JULY 29, 2019
There are all kinds of skin care startups on the market that promise to deliver some kind of epidermal miracle, particularly on one’s face. Sometimes the secret is in the ingredient list, such as collagen that will fill in the wrinkles. Other times the magic is in the routine — K Beauty regimens, for example, aren’t just about using the right products, but using a long list of the right product in the right order multiple times a day.
PYMNTS
JULY 26, 2019
Following a year-long pilot, WhatsApp is now officially introducing a payments utility in India. The Facebook-owned messaging app is responding to the increased demand for digital payments in its largest market, Reuters reported on Friday (July 26). “It’s a regulatory approval question in India at this point,” Facebook Chief Executive Mark Zuckerberg said on Thursday (July 25) during the company’s earnings conference. .
Advertiser: Paycor
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