June, 2019

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Cybersecurity Turns To Crowdsourcing Amid Hiring Woes

PYMNTS

Cybersecurity is one of the main tasks in the world of digital commerce and payments, and it’s a task that is getting more attention from consumers, companies, regulators and others. But there’s a big problem in this realm — a shortage of cybersecurity experts, the people with the training and expertise to defend retail and payments from increasingly sophisticated online criminals.

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Uber Hooks Into FinTech To Expand Beyond Ride-Hailing

PYMNTS

Uber is expanding its services and moving toward providing financial products, according to a report by CNBC. The company has reportedly been hiring numerous product managers and engineers. Its new FinTech team could ultimately have more than 100 workers. Uber is taking advantage of New York’s talent pool in the financial department, which has more depth in the San Francisco sector.

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How FinTechs Tackle Interoperability With New Public Standards

PYMNTS

Sometimes there are two approaches to the same problem in FinTech: EMVCo’s recently released EMV Secure Remote Commerce (SRC) Specification version 1.0 promises to enable many more seamless retail transactions, and the World Wide Web Consortium ( W3C ) Payment Request application programming interface (API) aims to reduce checkout friction. Modo CEO Bruce Parker told PYMNTS.com in an interview that they are both looking to solve the same problem, “which is simply and securely gathering payment d

Retail 85
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Mastercard Introduces True Name Card

PYMNTS

To address a major pain point for the LGBTQIA+ community, Mastercard is introducing the True Name card. The product will allow for chosen names to appear on the front of the card, according to news from Mastercard. In an announcement, the company said, “For many in the LGBTQIA+ community, the name on their credit, debit or prepaid card does not reflect their true identity.

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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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Ripple Plans MoneyGram Investment Of Up To $50M

PYMNTS

In what could be one of the first investments by a crypto-based firm in a major U.S. firm that is publicly traded, Ripple Inc. has arranged to invest up to $50 million in MoneyGram International Inc. Ripple is the company behind the XRP digital currency, The Wall Street Journal reported. Ripple’s Chief Executive Brad Garlinghouse said, according to the newspaper, “This deal is a major milestone for the entire industry.

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Thai Bank Walks Back On Ripple XRP Plans

PYMNTS

Thailand’s Siam Commercial Bank won’t be using Ripple’s XRP technology despite earlier announcements of such plans. According to reports in BlockTribune on Monday (June 10), Siam Commercial Bank (SCB) retracted a previous statement that it was planning to integrate use of Ripple’s XRP token to power cross-border B2B payments.

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The Key To Open Banking? More Bank Participation

PYMNTS

It’s not just technology that moves the world. Culture plays a huge role — as well as the sparks that often come from the tension when cultures clash. That promises to be the case going forward with Open Banking, as financial institutions (FIs) pick partners and proof of concepts. Open Banking is a global effort that resets the relationships FIs have with FinTech firms, payment providers and financial service providers.

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Mastercard Launches Open Banking Platform To Further API Standards

PYMNTS

Lead, follow or get out of the way — that seems to apply to the rise of Open Banking, which promises more financial services innovation, along with greater financial transparency and flexibility. While nothing is inevitable, and even the best plans are always in danger of stalling out or being derailed, the energy behind Open Banking is gaining steam.

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Russia Joins The Faster Payments Revolution

PYMNTS

The rise of faster payment systems has become a global phenomenon. In the past few years, several global markets have invested resources into developing payment systems and infrastructure that enables funds to be delivered in real-time and that operate on a 24/7 cycle. The U.K., the U.S., Hong Kong, India and Australia are among just a few of the nations to launch their own local faster payment systems while a host of other countries are moving forward with their own plans to launch a faster pay

Legal 80
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Visa Buys Rambus Payments To Tokenize Any Transaction On Any Network

PYMNTS

In digital commerce, promise and peril co-exist. Payments fraud is continuously moving from offline settings into the online realm. To that end, Visa said this morning (June 25) that it has inked a deal to buy the token services and ticketing business of chipmaker Rambus. The assets acquired were formerly known as Bell ID and Ecebs Ltd. Financial terms were not disclosed.

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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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Online Retail Pumps New Fuel Into Warehouse Growth

PYMNTS

The rise of eCommerce has done much more than change the way consumers shop (which, in turn, has helped to change the way consumers think about payments). Online retail has had a tremendous impact on logistics, further evidence of which emerged on Monday (June 3). Blackstone Group reportedly is paying $18.7 billion for what Bloomberg calls “179 million square feet of urban logistics properties – the warehouses used by Amazon.com Inc. and other retailers to fulfill orders from online shoppers.

Retail 79
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MoneyGram Partners With Canada Post For Digital Money Transfers

PYMNTS

MoneyGram and Canada Post have teamed up for a digital money transfer service that allows users to complete transactions at select Canada Post locations all over the country, according to a release. “To initiate a transaction, consumers simply visit moneygram.ca, create a profile, start a transaction and choose the ‘Cash at a Location’ option,” the release said.

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P2P Payments Set The Stage For B2B RTP

PYMNTS

Is it prime time for real time, especially for B2B? The rise of Zelle , and any number of peer-to-peer (P2P) payment options, has increasingly brought consumers on board with the need for speed in payments — where settlement is marked by seconds and minutes, not hours or days. It’s a well-known fact, too, that corporate payments (the B2B kind) are ripe for digitization, and for a wholesale move away from the paper chase, where checks are still stubbornly tied to 50 percent of corporate transacti

B2B 78
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Open Banking Can Scale With Incentives And API Aggregation

PYMNTS

Open banking is nothing if not a lot of moving parts and complications. But could merchant incentives help fuel this ongoing effort at digital payments innovation? That was one of the questions raised in a new PYMNTS interview with Ireti Samuel-Ogbu, Citigroup ’s head of payments and receivables for Europe, Middle East and Africa. In a discussion with Karen Webster, Samuel-Ogbu talked about the role of API aggregation and how incentives can help to ignite open banking, one of the main efforts no

cma 78
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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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Why AI Is MIA In Most FI Fraud Departments

PYMNTS

In the old days, forged checks were the biggest problems that bank fraud departments had to manage. Today, financial institutions (FIs) face a barrage of cyberattacks from hackers operating around the world, continuously shifting their tactics. It is no wonder that fraud prevention is one of the problem areas that FIs hope artificial intelligence (AI) can help resolve.

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Lost Pet Posters Get An Upgrade For The Digital Age

PYMNTS

The traditional method of finding a lost pet worked well enough. A distraught owner might tape or staple some homemade signs around the neighborhood, knock on doors, put out some favorite treats on the porch or lawn, and perhaps even pray and check the bank account in hopes of offering a monetary reward. Still, that seems so old-fashioned in this digital age — at least according to Andrea Chavez, Founder of Pawscout , a company whose signature product is a Bluetooth-enabled tag that not only hel

Retail 77
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Visa Launches b.yond To Fast-Track EU Digital Payments Innovation

PYMNTS

To let businesses quickly deploy digital payment services, a consortium of major companies is rolling out a new financial innovation platform called b.yond. Global Processing Services , Pannovate , Cornercard , MeaWallet , Modulr , AllPay and W2 Global are founding partners of the consortium in collaboration with Visa , according to an announcement.

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G7 Raises Concerns Over Facebook’s Libra

PYMNTS

Facebook’s Tuesday (June 18) news of the launch of its Libra cryptocurrency was heard around the world, and the Group of Seven (G7) nations definitely noticed, with the coalition calling for an investigation into the supposed risks of cryptocurrencies and how they would affect the current financial system, according to a report by The Financial Times.

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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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How A Retail Incubator Could Produce The Next Big Innovation

PYMNTS

The myth of the lone (and possibly mad) scientist died out a long time ago, as the industrial age led to teams of researchers working together (or at healthy cross purposes) to enable innovation. Science and invention are collective pursuits. Imagination and epiphany still have their roles, but it’s less about “eureka moments” than the steady, data-focused march of daily progress.

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Cross-Border Efforts Ripple (Literally) Through Cryptos And Payments

PYMNTS

Facebook ’s cryptocurrency initiative grabbed its share of attention this past week, of course. The business model of offering the digital wallet Calibra to back Libra, and tie it all to real assets (along with the Libra Association), shone the spotlight on crypto’s role in eCommerce. However, beyond that deluge of headlines were ripples (literally) and continued cross-border, digital payment efforts from other firms.

Retail 76
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Amazon Launches Card For Prime Users With Bad Credit

PYMNTS

Amazon is linking with Synchrony Financial to offer a new credit card for Amazon Prime members who have bad credit. As reported Monday (June 10), the card, known as “Amazon Credit Builder” will let users build up their credit profiles through the use of a secured card, and the firms also will offer budgeting tools. Upon establishing credit, those users can obtain other Amazon cards, which may be unsecured cards.

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IMF’s Lagarde Calls Out FinTech As Industry Disruptors

PYMNTS

International Monetary Fund Managing Director Christine Lagarde issued a warning over the weekend about the impact artificial intelligence may have on the financial system across the globe. Reuters reported Lagarde said that technology companies’ use of big data and AI i ncreases big tech companies’ dominance in the mobile payments market, which could result in policymakers around the world rethinking how they regulate the banking system and how they ensure financial settlements are made safely

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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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The Evolving Terrain Of Fighting Fraud

PYMNTS

Intro: Consumers undeniably want all of their transactions faster – and there is a penalty to be paid for making them wai t. But fast is no substitute for safe, which means the future of speed is really all about authentication on the quick. Artificial intelligence and machine learning can do a lot of that heavy lifting, if operators are using the real deal and not something merely AI-ish.

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Western Union’s Playbook For Balancing Cash And Digital Payments

PYMNTS

Despite the dreams and expectations among all kinds of people during the rise of eCommerce and digital payments, cash isn’t really going away. Sure, one may find numerous instances and specific markets in which cash use has given way to payment cards or mobile wallets, but, for various reasons, physical coins and bills endure, and will likely do so for quite some time.

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 Visa B2B Connect Goes Global

PYMNTS

Visa and Mastercard each made headlines in the payments infrastructure and cross-border realms, eyeing digital payments and B2B payments. As reported earlier in the week, Visa launched B2B Connect , a network focused on enabling financial institutions (FIs) to help their clients make B2B payments across borders. As reported, the launch covers 30 markets globally.

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Alipay Merchants Triple In Europe

PYMNTS

Alipay has tripled its number of merchants in Europe to “tens of thousands” in the past year. “We’re talking about tens of thousands of merchants who are really excited about the opportunity that Alipay provides them to tap into those wealthy and middle-class consumers, who are traveling to see the world and want to buy great brands from Europe,” said Roland Palmer, head of Europe for Alipay, according to CNBC.

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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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Why PayPal Agreed To Take A Seat At Libra’s Table

PYMNTS

In the aftermath of Facebook ’s unveiling of Libra and its Calibra wallet, among the many questions raised was how it managed to get so many of the “who’s who” in payments at the table. That was the question Karen Webster had for PayPal Chief Operating Officer Bill Ready when she learned that PayPal was one of those players. The vision, she agreed, is undeniably big, bold and targeted at a worthy goal: the inclusion of the 1.7 million people worldwide who are unbanked, and exist on the financial

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Amazon Eyes ‘Surveillance As A Service’ With Drone Patent

PYMNTS

To offer “surveillance as a service,” Amazon earned a U.S. patent for an “unmanned aerial vehicle.” It was granted on June 4 after its filing approximately four years ago on June 12, 2015, Quartz reported. An “unmanned aerial vehicle” is drone’s technical terminology, according to the report. It “may perform a surveillance action at a property of an authorized party” as well as “image the property to generate surveillance images.

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The Data Breach Case Against Facebook Is Moving Forward

PYMNTS

Facebook is still legally on the hook for a September data breach that affected 30 million of their customers. Hackers were reportedly able to exploit several software failings in order to obtain login access to consumer accounts. Facebook had moved to have the case dismissed — but a federal appeals judge has shot down that argument, saying the case against Facebook for negligence and for failing to secure users’ data will proceed.

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Mastercard Bets On Biometric Cards To Advance Inclusion

PYMNTS

In early May, Mastercard , in partnership with SEDESSON, the Mexico state agency for social benefits, and Edenred Bank, announced a first-of-its-kind test in Mexico’s Sonora state – the first regional test of biometric card technology in national history. It was a launch supported by background efforts in developing biometric cards that have been three or four years in the making, as Mastercard’s Executive Vice President of Identity Solutions Bob Reany told Karen Webster in a recent conversation

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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.