PYMNTS
OCTOBER 24, 2016
While hacks have been nearly endemic over the last several years, they have, at this point, mostly faded to the level of background noise for the average consumer. Sure, the aftermath of having a card compromised is often annoying and involves changing cards stored in digital wallets and with subscription sites, but consumers know that their bank has their back.
Katz,Sapper&Miller
OCTOBER 25, 2016
The Centers for Medicare and Medicaid Services (CMS) recently announced the long-awaited final regulations of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) law.
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PYMNTS
OCTOBER 24, 2016
Toasting new employment? Odds are increasingly good that you may be clinking your glass over your latest gig. The number of Americans working gig jobs — or short-term, ad hoc positions — grew at a rate of 50 percent from 2005 to 2010, while the gig economy gained 9.4 million new workers, outpacing the U.S. economy as a whole. But there is still much not known about this rapidly expanding portion of the economy, as the Bureau of Labor Statistics stopped collecting data on gigs in 2005 and won’t b
PYMNTS
OCTOBER 24, 2016
Coyote, bobcat, armadillo and … human skulls. Perhaps counterintuitively, Skulls Unlimited , a company that sells skulls — yes, animal and human skulls — sees its biggest uptick in purchases closer to Christmas, rather than before Halloween. “This time of year, we start getting in more orders. Halloween, not as much, but most people looking for Halloween decorations quickly realize that we’re not offering skulls for that purpose,” said Josh Villemarette , co-owner and son of the fou
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PYMNTS
OCTOBER 26, 2016
When one door closes, another (connected) one opens. At least that may be the mindset for the cybercriminals reportedly flocking to connected devices as an entry point into the networks and systems of businesses. From Wi-Fi hotspots to printers, unsecured routers to digital video recorders — connected devices can be vulnerable to hacks and, when compromised, are being used by hackers to launch significant distributed denial-of-service (DDoS) attacks.
PYMNTS
OCTOBER 26, 2016
Etsy buyers and sellers are about to get a boost in enhanced payment experience. Payments company Adyen announced crafting a global partnership with online marketplace Etsy, covering both the U.S. and European markets, as well as other key markets where Etsy maintains a presence. Peer-to-peer eCommerce site Etsy includes a marketplace of 1.7 million sellers offering unique, vintage and handmade items.
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PYMNTS
OCTOBER 25, 2016
Visa has its eyes set on an international prize, and it’s planning to take some cues from a new type of currency in order to win it. According to The Wall Street Journal , the company recently rolled out a new technology aimed at taking on a new market by offering international B2B payments. The product is called Visa B2B Connect and, according to recent reports, will use a network modeled after the one powering bitcoin to navigate the complex world of cross-border payments between two companies
PYMNTS
OCTOBER 27, 2016
Shoppers today just aren’t what they used to be. In fact, Google describes them as supershoppers — many of which utilize the power of their mobile devices to influence their shopping experience and, as a result, are more informed and efficient than ever before. According to recent data from Google, nearly 76 percent of shoppers who search for something nearby on their mobile device actually visit a related business within a day, and 28 percent of those searches lead to a purchase.
PYMNTS
OCTOBER 24, 2016
Given the shift from traditional payment methods to alternative payments, such as digital wallets, not to mention the growing number of customers paying for goods and services using their mobile devices, there is clearly room for steadier, sizable growth in mobile wallet adoption. But what will it take for widespread adoption to take place? The answer, as it turns out, may actually lie within merchant eCommerce experiences rather than the wallets themselves.
PYMNTS
OCTOBER 28, 2016
Is there a run on bitcoin? Before you panic, know that the answer is “certainly not yet.”. But after last week’s DDoS attack, there is some increased interest in hoarding them, specifically by banks. Some British banks are allegedly stockpiling bitcoin because they know that DDoS hackers will steer clear after being paid off. For the average consumer who may or not be aware of the value of the bitcoin — which today is hovering around $682 — or where they can access them, that could change.
Speaker: James Kahler, COO of Full Course
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PYMNTS
OCTOBER 24, 2016
Picture this: It’s 8 a.m., and instead of waking up to the smell of your smart coffeemaker brewing a nice pot of coffee to start the day, your morning begins with an email from a hacker demanding $20 in bitcoin otherwise they’ll keep your coffee pot hostage until you do. It may sound a bit farfetched, but all you have to do is read the papers to realize that hackers are, literally, taking any connected device and turning it into a bot for their malicious botnet attacks — or holding them hostage
PYMNTS
OCTOBER 26, 2016
The brand new October 2016 Global Fraud Attack Index™ , a PYMNTS and Forter collaboration, has some scary news for retailers, and it has nothing to do with Halloween. According to data revealed inside the index, fraud is rising quickly. The rate of fraud attacks is up 39 percent in 2016 (through Q2), and the rate has risen 62 percent from Q3 2015. According to the latest data, 39 of every 1,000 transactions are subject to fraud, a 47 percent increase from Q4 2015 and a 14 percent increase from
PYMNTS
OCTOBER 24, 2016
The FinTech space is oversaturated with talk of blockchain technology. Today, industry players seem to agree that innovators are slowly moving from conceptualization towards testing actual solutions. But late last week, Visa announced that it will be rolling out Visa B2B Connect, a platform for banks to make payments and settle funds across borders using Chain Core, the blockchain infrastructure developed by Chain.
PYMNTS
OCTOBER 25, 2016
The movement toward secure banking and B2B transactions is one that embraces digital payments. One way to ensure security is, of course, for enterprises to adopt new technologies that verify the parties involved in a transaction are who they say they are. One cutting-edge technology that is gaining some traction among enterprises is biometric authentication.
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
OCTOBER 24, 2016
The U.K. has taken some of the most high-profile actions to combat late B2B payments, but it’s a global problem, as the latest research reveals. PYMNTS explores newly released data from across Europe, Asia-Pacific and Africa that uncovers how SMEs and suppliers manage their cash flow amid chronic late payers. Plus, take a look at the top 10 excuses used by companies when paying their suppliers late. 92% of South African SMEs are planning for growth next year , found a new report by the Nat
PYMNTS
OCTOBER 28, 2016
Vancouver may not be the largest city in Canada, but it packs a mighty startup punch. The city has earned top rankings for its startup ecosystem, passion for green living and supporting a thriving job economy. . In this week’s installment of PYMNTS’ Weekly Tech Center Roundup , we head back to Canada to check out the growing tech landscape and why it’s become a magnet for top talent.
PYMNTS
OCTOBER 27, 2016
Mastercard reportedly will be included as a payment option in a new intelligent dashboard that is being created by IBM Watson for General Motors. According to the report , the new platform, dubbed OnStar Go, will enable drivers to access merchants and brands so they can access shopping menus and purchase things using Mastercard’s Masterpass. The report noted that, with the new “cognitive mobility” platform, users can get gas and pay for it via the dashboard.
PYMNTS
OCTOBER 26, 2016
It’s been a busy 12 months since the last Money20/20, as new technologies and threats have disrupted the security space time and time again. As the conference kicked off in Las Vegas last October, merchants and retailers around the United States began dealing with the effects and fallout of October’s EMV liability shift, as the technology became the standard for all retail payments.
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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.
PYMNTS
OCTOBER 27, 2016
Investment bank UBS is reportedly teaming up with Amazon and its voice-enabled speaker, Echo, to let consumers ask Alexa financial questions. According to a report, the new service, dubbed “Ask UBS,” will let customers ask questions about financial terms, such as “what is inflation?” and “how is the economy faring?” The idea behind the service is to reach and engage new swaths of wealth management customers.
PYMNTS
OCTOBER 25, 2016
From ramping up free shipping offers to lowering prices on product offerings across multiple channels, merchants are constantly realigning their omnichannel strategy. What works well for merchants one quarter may not necessarily work the next. And what works successfully for one merchant may not work for another. Google, for example, is challenging the need for physical stores to sell its smartphone by pre-packing customer service on a support tab in its smartphone.
PYMNTS
OCTOBER 27, 2016
Danish payment processor Nets notified local banks and international card schemes on Wednesday (Oct. 26) that it was the victim of a data breach that could have impacted 100,000 credit cards. According to a report , Nets thinks the breach was linked to one internet retailer overseas. It has alerted local banks to replace the cards. “By replacing possibly compromised cards preemptively, banks and shops can save an amount in the triple-digit million (Danish crowns) range, which they could su
PYMNTS
OCTOBER 25, 2016
The age of interconnected devices may be dawning, if Mastercard has anything to say about it. Mastercard is unveiling an artificial intelligence bot platform that will let users monitor and control their financial lives through social media. Dubbed the Conversational Commerce Service, launched with bot developer Kasisto, the service will be available in early 2017.
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PYMNTS
OCTOBER 27, 2016
Between the rise of blockchain technology, the market debuts of faster payments initiatives and the advancements in virtual card capabilities, small businesses have more choice and power when it comes to their payments needs. But B2B payment habits continue to stifle suppliers’ growth plans across the globe, found the latest Working Capital Outlook Survey released by C2FO this month.
PYMNTS
OCTOBER 27, 2016
Blockchain technology could have major implications for B2B payments, and some of the top use cases for distributed ledger include cross-border payments and smart contracts. B2B payments company PayStand has another possibility for the tool. An announcement Wednesday (Oct. 26) said PayStand now supports certification and notarization of payments using blockchain technology, allowing businesses to access an independent and secure way to verify that a payment has been made and that the information
PYMNTS
OCTOBER 24, 2016
John Sculley, former CEO of Apple, has some advice to offer the big financial services firms facing the big digital transition. Speaking at the annual Money 20/20 conference, Sculley’s message was nothing if not dire — he noted that the incumbent financial services firms are in a big race now, and if they can’t keep pace, they’re going to be nonexistent in short order.
PYMNTS
OCTOBER 27, 2016
Last year, merchants and banks felt fraud losses reach $21.84 billion on all credit, debit and prepaid general-purpose and private-label payment cards issued globally. According to The Nilson Report stated, this means that for every $100 in volume, 6.97 cents was fraudulent. The number doesn’t come at too much of a surprise considering fraud itself grew by 20.6 percent in 2015, outpacing the growing global card volume.
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PYMNTS
OCTOBER 27, 2016
ID Analytics, a consumer risk management company, announced Wednesday (Oct. 26) new research that revealed over six out of 10 millennials declined for credit are not seen applying again for at least 12 months. In a press release , the company said the study found that millennials often apply for credit but are declined due either to their lack of credit history or to low credit scores, despite often having an ability to repay, according to data from the ID Analytics ID Network, one of the nation
PYMNTS
OCTOBER 24, 2016
FinTech players are beginning to develop and integrate biometric authentication technologies into digital banking and finance platforms. And while the tool is seen as a more sophisticated way for corporate clients to ensure security in their digital transactions, for some, biometric authentication is too futuristic and complex for real-world use. A new partnership between biometric authentication companies BioConnect and VoiceVault aims to reduce the friction and confusion associated with implem
PYMNTS
OCTOBER 27, 2016
When a loved one is working overseas and sending money back to their family, it hasn’t always been a quick relay. That’s why, seven years ago, WorldRemit decided to tackle a global problem: sending money to developing countries via an app or website. Making instant and secure money transfers any time of day, shamelessly skipping out on the lines in front of brick-and-mortar agents.
PYMNTS
OCTOBER 25, 2016
The gig economy is on the rise. Today, more people are finding themselves employed in short term, ad hoc positions and it’s having a huge impact. Not only has this new sector of the workforce continued to grow, the growth rate is actually outpacing the U.S. economy as a whole. The inaugural PYMNTS Gig Economy Index™ in collaboration with Hyperwallet launched this week to shed light on the people working these gigs and why, as well as insights into the growing number of companies employing
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