PYMNTS
MAY 18, 2016
Like many developing areas, Latin America holds promise for payments companies and the burgeoning movement to digital transactions in lieu of coins and paper bills. In an interview with PYMNTS, Alexander Sjogren, YellowPepper’s CTO, stated that his firm has evolved beyond its initial underpinnings in the mobile banking services segment focusing on underbanked and underserved populations.
Katz,Sapper&Miller
MAY 17, 2016
Eight hundred new jobs and $40 million in capital investment. Based on these stats alone, Salesforce’s announcement to expand into the Chase (soon-to-be Salesforce) Tower is a monstrous economic development project worthy of the attention it has garnered. But beyond the numbers, Salesforce’s decision could have profound impacts statewide for a generation to come.
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PYMNTS
MAY 20, 2016
“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.
PYMNTS
MAY 19, 2016
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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PYMNTS
MAY 19, 2016
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.
PYMNTS
MAY 19, 2016
Now that the traditional swipe credit card is starting to fall out of favor in the face of EMV and mobile payments, software developers are scrambling to develop updated ways of authenticating consumers’ identities at the point of sale. Among the proposed methods, facial recognition has long been a pie-in-the-sky solution, but Illinois is the latest state to show that there’s a future in the tech.
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PYMNTS
MAY 20, 2016
Remember that LinkedIn data breach in 2012? Well, it turns out it was much worse than the company initially thought. The company announced this week that it’s recently been discovered that email and password information for more than 100 million LinkedIn members has been released as part of the data breach that was initially believed to have only impacted 6.5 million accounts.
PYMNTS
MAY 19, 2016
SEC Chair Mary Jo White made it clear that cybersecurity remains the biggest threat facing the financial system. At the Reuters Financial Regulation Summit in Washington, D.C, White gave a candid assessment of the risk digital attacks pose to Wall Street and voiced her concerns over major financial entities not being prepared to handle the cybersecurity risks in front of them, Reuters reported on Wednesday (May 18). “What we found, as a general matter so far, is a lot of preparedness, a lo
PYMNTS
MAY 20, 2016
It wouldn’t be the end of the business week in the payments industry if there weren’t another batch of news items relating to cybersecurity, data breaches and hackers. This week’s news flow included a story about a ransomware group who turned over the key, updates on LinkedIn’s massive data breach, a bitcoin-loving vigilante hacker, and a fast food chain that thinks it may have been breached.
PYMNTS
MAY 19, 2016
If there’s one thing merchants and consumers can agree on, it’s the value of convenience. In the early part of the 20 th century, this shared desire for efficiency gave rise to curbside car hops, which was eventually eclipsed by the emergence of drive-thrus. Now, however, omnichannel solutions have merchants and developers revisiting the curbside concept in new, tech-driven ways.
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.
PYMNTS
MAY 17, 2016
Today, the mobile payments field has been reduced by one. A statement released by MCX CEO Brian Mooney late yesterday (May 16), via their PR rep, said that MCX and its CurrentC mobile payments product is folding its tent. The decision, said the written statement, was the result of feedback from its CurrentC pilot and their need to focus on “other priorities,” including its work with Chase and Chase Pay.
PYMNTS
MAY 17, 2016
The online marketplace is such a ubiquitous part of modern retail that it rarely warrants a detailed look into how the format effects sales. Hundreds, if not thousands, of items from differing and often competing brands displayed side by side might even seem like the natural translation of a store full of shelves to a webpage full of clickable links, and if uniformity in the customer experience isn’t just lip service among omnichannel retailers, the marketplace concept should be the way fo
PYMNTS
MAY 19, 2016
When Amazon CFO Brian Olsavsky noted how full Amazon’s warehouses were during the fourth quarter, thanks to the growth of Fulfillment By Amazon, it might have been a sign of things to come. Fulfillment By Amazon is the service that allows marketplace sellers to have Amazon sell and ship their goods for them. And the cost of service is going up, sort of.
PYMNTS
MAY 17, 2016
While hard to imagine now — a week off of another round of disastrous earnings and falling share prices — Sears at one time and for a long time was probably the most innovative retailer in America, if not the world. The Sears of today may have attracted the unfortunate moniker of “dead retailer walking,” but for much of its 130 years of operation what Sears has actually been best known for is being the most cutting-edge retailer out there.
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 16, 2016
Between treasury management, accounting, invoicing, cash management and all the other money tools corporates have access to today, it’s a wonder CFOs can keep their heads on straight. Making matters even more complex is the need for this accounts payable automation system to work with that ERP system or for that cash management software to integrate into this data analytics tools.
PYMNTS
MAY 20, 2016
Clients of Amazon Fulfillment services — which allows marketplaces sellers to place their goods for storage and shipment from Amazon’s warehouse system — are facing big price hikes this holiday season (preceded by minor price lowering in October) if they want to stay part of the program during the warehouse’s busiest time of year. Retailers – at least some – so far are less than fully enthused for the change.
PYMNTS
MAY 20, 2016
The adoption of technology has any number of triggers: ease of use, interest in time-saving features or simply the “wow” factor that comes with sleek hardware. But, in B2B, technology adoption is, at times, slow and, at other times, painstaking. And time, as it turns out, is a luxury that many SMBs do not have, especially when it comes to managing supply chains and all the moving parts therein.
PYMNTS
MAY 20, 2016
Good intentions gone bad? “Robin Hood Hacker Donates $11,000 of Stolen Bitcoin to Help Fight ISIS.”. This is a real story and that was an actual headline. Those bitcoins were reportedly given by a person described as a “vigilante hacker,” who then gave that bitcoin donation to a group in the Kurdish region of Syria. You might say that this is a worthy cause.
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PYMNTS
MAY 17, 2016
With the boom of any industry comes the rise of equal — and sometimes greater — cottage industries. For eCommerce, this has meant breathing life back into the once-lagging business of warehouse. A recent article in The Wall Street Journal notes that rental rates for warehouse space in the U.S. jumped 9.9 percent from 2014 to 2015, according to real estate brokerage firm CBRE.
PYMNTS
MAY 16, 2016
Procurement remains one of the most basic building blocks of corporate activity and one that can dramatically impact day-to-day operations and, ultimately, margins. After all, the continuous act of sourcing, buying and maintaining an eye on costs tied to goods and services is one that directly ties into expenses, which can, of course, add up if inefficiencies creep into the process.
PYMNTS
MAY 20, 2016
In a mobile payments environment that is frequently likened to a war, an era of peace and good feeling has broken out between two of the competitors. Samsung has announced a final deal that will make China’s most popular mobile payments platform — the Alibaba-backed Alipay — available to Samsung users through Samsung Pay. The deal is particularly important as various mobile competitors are descending on China of late, and Alipay is China’s most formidable competitor, with hundreds of
PYMNTS
MAY 20, 2016
Google’s parent company Alphabet has put itself in quite the conundrum. Earlier this month, Google announced its plans to ban payday lender ads , citing the number of controversies surrounding pitches by financial loan services, particularly payday loan companies, that have been viewed as deceptive. Now, however, Google has found itself in a bit of an awkward position.
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PYMNTS
MAY 20, 2016
The concept of curbside pickup is nothing new in the world of omnichannel offerings. In fact, the concept dates back to 1921 in Dallas, where motor vehicles were booming in popularity and two entrepreneurs realized that drivers might like the convenience of having food brought to their cars instead of having to park them and go inside to eat. What followed over the next four decades was the evolution of a once familiar retail fixture – the carhop – who first walked, and then later roller skated
PYMNTS
MAY 20, 2016
Perhaps no one wants to note this but it should be noted: At banks, at least some of them, loan loss reserves are creeping up. As noted in a research report by DA Davidson analyst Kevin Reevey, and cited in Seeking Alpha, “the days of negative provisioning are pretty much dead.” At its most basic definition negative provisioning is a practice wherein loss allowances are estimated at a given period end to be lower than had been previously estimated, thus incurring lower bad debt expense.
PYMNTS
MAY 20, 2016
As June rolls up — and Christmas suddenly presents itself as a problem that will have to be solved in six months — many Americans will resolve that, instead of hitting the plastic this year, they will start saving a little bit here and there, so as to make sure their holiday account is ready to roll. One summer vacation, a few trips to a farmers’ market, an amusement park, a few museums, a summer camp bill and a lot of big, dumb, loud blockbusters (with a lot of buttery $20 popcorn) later
PYMNTS
MAY 20, 2016
The U.K. Cards Association announced on Thursday (May 19) that the monthly spending on contactless cards reached a record £1.5 billion in March 2016. In Nov. 2015, monthly contactless spending hit £1 billion. Today, one in seven of all card transactions that take place in the U.K. are contactless, compared to just one in 16 last year. In a news release , Richard Koch, U.K.
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PYMNTS
MAY 19, 2016
Normally focused on exercise, Fitbit appears to be considering the (business) health benefits of mobile payments. Reuters reports that the fitness wearables company has purchased wearable technology assets from Coin, a startup in the business of NFC devices (and who, earlier this year, struck a deal with MasterCard as part of the latter’s efforts in the realm of connected commerce).
PYMNTS
MAY 16, 2016
Amazon released its one-click, one-purchase Dash Buttons and its voice-activated Echo just months apart in 2015, but the latter has emerged as not only the media darling of the two but the vastly more versatile form of in-home commerce for the online giant. In addition to Amazon-developed apps that stretch Alexa’s capabilities far beyond its original scope, third-party developers are scrambling to get their own voice-activated portals up and running on the device so consumers can say the w
PYMNTS
MAY 20, 2016
Restaurant chain Noodles & Company is probing a credit card breach that is said to have hit several of its 500 stores. The revelation comes after several financial institutions reportedly saw a pattern of fraudulent charges on customer cards, which were used between January of this year and now, Krebs on Security reported. “We are currently investigating some unusual activity reported to us Tuesday, May 16, 2016, by our credit card processor.
PYMNTS
MAY 18, 2016
What’s a millennial to do? They want to have those valuable life experiences (like Coachella or a weekend in Costa Rica), but they just don’t seem to have the cash. Well, now, they can have their experience now and pay for it later, without the pesky nuisance of credit card debt. According to recent statements made at Shoptalk and reported by TechCrunch , lending company Affirm will be partnering with Expedia and Eventbrite to offer extended payment plans (that’s three, six or 12 months) for int
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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.
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